Al-Baha Investment and Development Co. (ABDICO) is planning to contest an order by Saudi Arabia's Department of Zakat and Income Tax (DZIT) requiring it to pay SAR 16.85 million in Zakat for the 2000-2010 period.

 

ABDICO will file an objection to the department on within sixty days as per maket rules, the company said in a statement to Tadawul.

 

The financial impact will be assessed after the appeal is finalized by the firm's Zakat advisor.

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