AlBabtain Food says tax audit reveals SAR 6M discrepancy

08/12/2024 Argaam

AlBabtain Food says tax audit reveals SAR 6M discrepancy

Logo of Al-Babtain Power and Telecommunication Co.

Abdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food) announced that the Zakat, Tax, and Customs Authority (ZATCA) performed a tax audit on selective goods imports from January 2019 to December 2022, resulting in tax discrepancies of SAR 6 million.
 
 
 

In a statement to Tadawul, the company explained that it will appeal the decision before the General Secretariat of Tax Committees (GSTC) and will take all necessary measures to challenge the audit report issued by the authority on Dec. 1, 2024.

 

AlBabtain Food stated that it would set aside provisions, pending ZATCA’s final decision.

 

Any significant developments in this regard will be announced in due course, the statement added.

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