Saudi Arabian Amiantit Co. Announces an update on Announcement of Saudi Arabian Amiantit by receiving the letters of the Zakat, Tax and Customs Authority
| Element List | Explanation |
|---|---|
| Introduction | Reference to the announcement of Saudi Arabian Amiantit company on TADAWUL platform on 05-05-1442H, corresponding to 20-12-2020G by receiving the letters of the Zakat, Tax and Customs Authority dated 05-05-1442H, corresponding to 20-12-2020G includes the claim for payment of zakat differences of SAR 231,117,518.17 for the years 2015G To 2018G and the company has objected on these amendments and the challenge was escalated to the General Secretariat of Tax Committees and in reference to the announcement on 21-10-1443H corresponding to 22-05-2022G about the issuance of the Authority's preliminary decision to accept some of the company's objections on the items mentioned in the objections and the rejection of some other items and a reference to the announcement dated 08-11-1443H corresponding to 07-06-2022G of receipt of the above-mentioned decision.
Saudi Arabian Amiantit Company announces that it has received decisions from the First Appeals Circuit for Income Tax Violations and Disputes on 18-08-1444H corresponding to 10-03-2023G accepting the appeal of the Zakat, Tax and Customs Authority and repealing the decision of the First Circuit that has been issued by the First Appeals Circuit for Income Tax Violations and Disputes regarding the item of loans for the years 2015G to 2018G and the item of other liabilities for the years 2015G, 2016G and 2018G and its amendment for the year 2017G, and accepting the company's appeal regarding the item of spare parts inventory for the year 2017G and the item of provisions adjustments for the year 2018G, and the end of the dispute regarding the comprehensive income profit item for the year 2017G, rejecting the appeal of the company and the Authority regarding the rest of the items in claim, and upholding the decisions of the First Circuit for the years from 2015G to 2018G. The company is in the process of submitting a petition to the General Secretariat of Tax Committees for review of the decisions. The financial impact will be determined later, and the company will study the suitable solutions and any updates regarding this matter will be announced. |
| Previous Announcement | Announcement of Saudi Arabian Amiantit by receiving the letters of the Zakat, Tax and Customs Authority |
| Date of Previous Announcement on Tadawul's Website | 2022-06-07 Corresponding to 1443-11-08 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Not applicable |
| Reasons for Exceeding the Announced End Date | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Impact of the Delay on the Company's Financial Results | Not applicable |
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