Zamil ordered to pay additional Zakat of SAR 61M

Logo of Zamil Industrial Investment Co.

Zamil Industrial Investment Co. announced receiving the final Zakat assessment letter for 2015 to 2018, based on the decision by the Zakat, Tax and Customs Authority (ZATCA), seeking additional payment of SAR 61.05 million.

According to a statement to Tadawul, the amount of the claim, subject to objection, was SAR 185.56 million.

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The company has sufficient provisions to pay the final differences that were calculated, the statement said, adding that there will be no material impact on the company's financials.

According to data available on Argaam, Zamil announced in July receiving the final letter from ZATCA, requiring it to adjust its Zakat reports for 2014 and pay Zakat differences worth SAR 7.32 million.

In December 2020, Zamil received letters from ZATCA seeking revision of Zakat reports from 2014 to 2018 and payment of an additional SAR 229.3 million, Argaam reported.