SZTAC 30/2021/IR; 1582/2018/ZIW

Recommended investments in local companies subject to investment are deducted from the base of company investing in those companies.

Background

First: To admit the objection in form.

Second: On merits:

To approve GAZT’s point of view to not deduct investments from Zakat base for 2000 and 2001
Dispute about this item were resolved by GAZT’s approval of the taxpayer’s view.
To approve GAZT’s point of view to subject the capital increase amount to the legal Zakat for 2004.
To approve GAZT’s point of view to subject the insurance premium amount to the withholding tax.
To approve GAZT’s point of view to disapprove the recovery application of zakat and tax resulting from non-considering the transfer of insurance portfolio for 2008.

Whereas this decision was not accepted by the taxpayer (…. Company), it submitted to the Appeals Chamber a memorandum of appeal including in summary: