GACO says appeal against ZATCA decisions rejected in form

 The appeal was related to the company's objections to the decisions of the Zakat, Tax, and Customs Authority (ZATCA) on Zakat declarations for the years 2019 and 2020, according to a Tadawul statement.

GACO intends to file a petition to reconsider the decision, noting that any developments in this regard will be announced in due course.

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The company stated in March 2023 that the First Circuit for Adjudication of Income Tax Violations and Disputes rejected its objection to ZATCA's decisions on the assessment of Zakat returns for 2019 and 2020, according to data available on Argaam.

GACO then indicated that it will appeal against the said decisions within the specified period.

In September 202, GACO received letters from ZATCA, requiring it to adjust its Zakat reports for 2019 and 2020 and pay Zakat differences worth SAR 7.87 million.