The General Authority of Zakat and Tax (GAZT) requested Al Gassim Investment Holding Co. (GACO) to settle Zakat claims for the years 2014-2018 at a total value of SAR 13.26 million, according to a bourse filing on Monday.

 

GACO received a letter from GAZT amending the Zakat declarations submitted for the period from 2014 to 2018. The company had already paid Zakat for the period, based on the reports of external auditors.

 

The Saudi company is entitled to refute these amendments within 60 days of GAZT’s decision.

 

The relevant financial impact will be disclosed in due course, the statement added.

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