Zain KSA announced that a claim of SAR219mn in withholding taxes was revoked by General Authority of Zakat and Income Tax (GAZT), after the latter had entirely revoked an amount of SAR352mn related to zakat. The company had appealed the claim from the GAZT, requesting additional payment of SAR619mn, of which SAR352mn are related to zakat and SAR267mn to withholding tax for 2009, 2010 and 2011. Zain will continue with its appeal of the remaining withholding tax of SAR48mn, after issuing a bank guarantee for SAR43mn related to the penalty generated from the delay in paying the said tax.
Zain KSA: SAR6.04 as of 19 Nov. 2017, Rating: Neutral, TP: SAR6.56/share, MCap: USD940mn, ZAINKSA AB/7030.SE
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.