Al-Gassim Investment Holding Announces Latest Developments of Zakat Declarations

Al-Gassim Investment Holding Co., Jacko, received the judgment rendered by the first chamber for adjudication of tax dispute and violation cases in Riyadh city, where the court has overruled the company’s objections to the declarations of Zakat, Tax and Customs Authority for 2017 and 2016.

The judgment included a stipulation that the company shall be entitled to appeal within thirty days after receiving such a ruling. The company is determent to proceed further with the case within the statutory period.

In 2014 and 2018, the company received letters of amendment to the false declarations, and it opposed these amendments, so the dispute escalated to the General Secretariat of Tax Committees.

The earlier incident occurred, the letters received from the Zakat, Tax and Customs Authority, amending the false declarations for 2014 to 2018 and requiring additional payments.