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 Saudi Arabian Amiantit Company’s announcement on Tadawul website on 05/05/1442H corresponding to 20/12/2020G that it received letters from the Zakat, Tax and Customs Authority on 05/05/1442H corresponding to 20/12/2020G, and the company’s announcement on 21/10/1443H corresponding to 22/05/2022G regarding the issuance of the First Department For Resolving On The Income Tax Disputes And Violations decision to settle income tax violations and disputes, accepting some of the company’s objections to the items mentioned in the objections and rejecting some other items.
The company would like to announce that it received the decision on the evening of date 07/11/1443H, corresponding to 06/06/2022G, and after reviewing this decision, the company found that the total amounts that the first department approved of the company’s objection amounted to approximately 150 million Saudi riyals. It is worth mentioning that the company has already formed a provision for the amounts which are not approved the objections of the company by the first department. |
| 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 | 2022-05-22 Corresponding to 1443-10-21 |
| 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 |
| Additional Information | The company would like to draw the attention that this decision is subject to appeal by both parties within 30 days from the date of receiving the decision, i.e., from 07/11/1443H, corresponding to 06/06/2022G, and accordingly, the company will do its best and appeal the items that were not approved by the first department.
The company will define and announce the exact financial impact and any material developments in due course. |
Comments