Mubasher: The Commercial Real Estate (Al Tijaria) announced that the zakat and tax consultancy office has notified Al Tijaria’s associate, Hajar Tower Real Estate, that the Saudi General Authority of Zakat and Tax (GAZT) – Jeddah branch has canceled SAR 9.84 million ($2.63 million) from the authority’s claim to Hajar.
The GAZT clarified that Hajar Tower has repaid tax differences worth SAR 7.46 million due to the authority, according to a bourse statement issued on Sunday.
Thus, the total canceled amount stands at approximately SAR 17.3 million.
Al Tijaria noted that the tax consultant advised the company to obtain a provision worth SAR 9.67 million.
The Kuwaiti firm said it still declines all the remaining claims by the GAZT, and that the financial impact cannot be determined in the current time.