Nama Chemicals: 140 million riyal zakat obligations for 21 years

Today, Sunday, Nama Chemicals Company announced developments in the company’s 21-year zakat status, which spans the period 2000-2020.

The company stated, in a statement on the site web of the Saudi stock exchange “Tadawul”, today, Sunday, that: The final appraisal value of the zakat From 2000 to 2020 it amounted to 140.02 million riyals.

He added that the total amount paid for the zakat valuations for these twenty years to 2020 amounted to 73.36 million riyals, meaning the additional zakat valuations amounted to 76.82 million riyals.

Indicates that the value of the provisions recorded in the company’s books until the end of 2020, equal to 29.53 million riyals, and on the basis of the decision received from the General Secretariat of the Tax Commissions, which provides for the complete cancellation of the additional claim, equal to aa 38.8 million riyals for the years from 2000 to 2011, and the professional opinion received by the advisor zakat relating to the provision Required for the years after 2011 to become 8.5 million riyals.

Nama Chemicals pointed out that the company has decided to reverse the additional provisions in Zakat for previous years, amounting to 21.04 million riyals, the positive impact of which will appear on the lists for the fourth quarter of 2021.

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