Al Gassim Investment Holding Co. Announces an update on the latest developments regarding the Authority’s amendment of the company’s zakat returns for the years 2014 to 2018 AD and a request for additional payments.
| Element List | Explanation |
|---|---|
| Introduction | Algassim Investment Holding Company refers to its announcement on the Tadawul website dated October 5, 2023, concerning the company's petition against the committee's decisions related to the obligation of the company to pay additional amounts for the years 2016-2017. In this context, the company declares that it received from its Zakat advisor on April 21, 2024, decisions from the appellate division indicating the rejection of the petition for reconsideration of the committee's decisions and the obligation of the company to pay additional amounts for the years 2016-2017 totaling 6,498,741 Saudi Riyals.
It should be noted that the company had previously paid 1,732,997 Riyals of these obligations. There will be no impact on the financial statements for the year 2024, as a Zakat provision for this purpose was established in previous years. |
| Previous Announcement | Al-Qassim Investment Holding Company announces the latest developments regarding the Authority’s amendment of the company’s zakat returns for the years 2014 to 2018 AD and a request for additional payments. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-10-05 Corresponding to 1445-03-20 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | N/A |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | N/A |
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