Riyadh Development pays SAR 6.3M Zakat discrepancies for 2015-2018

05/01/2025 Argaam Back

Riyadh Development pays SAR 6.3M Zakat discrepancies for 2015-2018

Logo of Riyadh Development Co. 

Riyadh Development Co. settled Zakat discrepancies for 2015 to 2018 with the Zakat, Tax, and Customs Authority (ZATCA) at SAR 6.3 million, down from the initial estimate of SAR 103.1 million.

 

In a statement to Tadawul, the company said the settlement was concluded after the final reconciliation with ZATCA, adding that sufficient provisions had been set aside to meet these discrepancies.

 

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Zakat assessment with ZATCA has been completed and all dues for previous years until the end of 2023 have been settled, the developer said.

 

According to data available with Argaam, Riyadh Development announced receiving letters from ZATCA in December 2020, requesting amendments to its Zakat returns for 2015 to 2018, and demanding payment of Zakat discrepancies amounting to SAR 103.14 million.

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