Amiantit says objection to SAR 150 mln Zakat claims approved

Headquarters of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. said the income tax and dispute resolution department at the Zakat, Tax and Customs Authority (ZATCA) approved its objection to Zakat claims of nearly SAR 150 million for previous years.

Amiantit received this decision on June 6, according to a statement to Tadawul.

The company has allocated a provision for the other amounts claimed by ZATCA.

The decision can be appealed by both parties within 30 days from the decision date. Accordingly, Amiantit will appeal the items rejected by the dispute resolution department.

On the other hand, Amiantit will duly determine and disclose the final financial impact and any other material developments.

In May, the Tadawul-listed company announced ZATCA’s decision to accept some of the company's objections to Zakat differences worth SAR 231.12 million, Argaam earlier reported.

In December 2020, Amiantit received letters from the tax authority, ordering it to amend Zakat declarations submitted from 2015 to 2018.