Retailing and Operation Division

Saudi Automotive Services Co. (SASCO) announces the latest updates of Receiving letters from the General Authority for Zakat and tax amending zakat declarations for the years from 2014 to 2018 and to demanding of extra payments

27 October 2021
Retailing and Operation Division

ELEMENT LIST

EXPLANATION

Introduction

SASCO refers to its announcement at Tadawul website on December 13 2020, regarding receiving letters from the General Authority of Zakat and Income to amend the zakat declarations for years 2014 to 2018 and demanding additional payments that worth 12.33 million riyals, SASCO reports that it has received on October 26, 2021, the results of the session held on October 25, 2021 from company’s zakat consultant, in addition receiving an email from the General Secretariat of the Tax Committees stating that the case has been dismissed due to submitting the grievance to the special committee after the statutory period. The department has set thirty days as a deadline for receiving a copy of the decision, and the company has the right to appeal within 30 days of receiving the copy of the decision. Accordingly, the company will appeal the decision within the statutory period, the financial impact will be determined later.

Previous Announcement

Receiving letters from the General Authority for Zakat and tax amending zakat declarations for the years from 2014 to 2018 and to demanding of extra payments

Date of Previous Announcement on Tadawul's Website

2020-12-13 Corresponding to 1442-04-28

Percentage of fulfilled achievement

Not applicable

Event's Expected Completion Date

During 3 months

The costs associated with the event, and if they have changed or not with indication of the reasons.

Impact cannot be determined currently

Additional Information

SASCO will announce any updates regarding this matter.