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Al Gassim Investment Holding Co. Announces an update on Previous letters received from the Zakat, Tax and Customs Authority amending the zakat returns for the years 2014 to 2018 and requesting the payment of additional amounts
| Element List | Explanation |
|---|---|
| Introduction | Subsequent to the previous announcement on receiving letters of amendment to the zakat declarations for the years 2014-2018G, and to the company objection to these amendments, and escalation of the dispute to the General Secretariat of Tax Committees. ALGASSIM INVESTMENT HOLDING CO. points out to its announcement on the Tadawul website on December 02, 2021G regarding its receipt of a decision issued by the First Circuit for Settlement of Income Tax Violations and Disputes in the city of Riyadh for accepting the formal appeal submitted by Zakat, Tax and Customs Authority and not accepting the lawsuit filed against Zakat, Tax and Customs Authority regarding the year 2018G, the company would like to explain that it received from Zakat advisor of the company on 23/01/2023G a decision from the Appellate Department stating that the appeal was accepted in form and rejected in subject, and accordingly the company intends to submit a petition to reconsider the decision within a period of 30 days from date of receiving it. The company will announce any development in this concern. |
| Previous Announcement | Previous letters received from the Zakat, Tax and Customs Authority amending the zakat returns for the years 2014 to 2018 and requesting the payment of additional amounts |
| Date of Previous Announcement on Tadawul's Website | 2021-12-02 Corresponding to 1443-04-27 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Not applicable |
| Reasons for Exceeding the Announced End Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | As mentioned in previous announcements |
| Impact of the Delay on the Company's Financial Results | N/A |
| Additional Information | N/A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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