SZTAC 18/2021/IR;2018/1880/Z

It is determined that if the intention hesitates between acquisition and trading, the intention of acquisition is more likely.

Background

On Thursday 15/06/1442 AH the first appeals chamber for Income Tax Interventions and Disputes in Riyadh convened a meeting in its location in Riyadh city. To consider the Appeal that has been submitted on 23/01/1437 AH from the General authority for Zakat and Income on the decision of the second primary Zakat tax objection committee in Riyadh No. 36 for the year 1436 AH that has been issued in the objection No. (23/36) from the …. Taxpayer/ company towards the public authority for Zakat and Income in regards of Zakat assessment from 2006 AD to 2010 AD. And the primary decision is the following:

The objection from the… Taxpayer/company was accepted in form to be submitted during the regular period and from authorised person.

In merits, the dispute in the clause of difference of net fixed assets was ended, for the reasons stated in the decision.

The dispute in the clause of a rounded dividend difference was ended, for the reasons stated in the decision.