Baazeem agrees zakat claims settlement of SR2,3 mln with GAZT

Baazeem announced in a stamen that it has agreed with the General Authority of Zakat and Tax (GAZT) on the settlement of zakat claims for the period of fiscal years from 2014 until the end of the fiscal year 2018 for payment of SR (2,366,405.)

“The company would like to clarify that it already paid SR (2,693,841) from the initial claimed amount which makes the total amount to be SR (5,060,246.)”, the statement read.

The founder shareholders of the company will cover 55% of the claims, which reduces the impact on the company financials.

“The company will pay to GAZT SR (2,277,111) to settle the claim and this amount will impact company financial.” it added.