Zain Saudi to appeal $165m zakat, tax order
RIYADH, July 12, 2015
Zain Saudi will appeal an order from Saudi Arabia's Department of Zakat and Income Tax for extra payments worth SR619 million ($165.1 million) for the years 2009-2011, the kingdom's number three telecommunications operator said.
The payments, consisting of SR352 million of zakat and SR267 million of withholding tax, would be appealed within the 60-day period allowed, Zain Saudi said in a bourse filing.
Zain Saudi added there was no need for any provisions, based on advice from its advisers and auditors.
Zakat is a charitable contribution which is mandatory for all Muslims to pay. - Reuters