Important Update: Ministerial Resolutions on Zakat Obligations

Specifically, these resolutions allow:

• Late Submissions: Zakat payers who haven't yet submitted Zakat returns for prior years can now do so in accordance with the 1445H regulations.
• Revisions: Even if you've already submitted returns based on initial draft or audited financial statements, you can consider submitting revised returns reflecting the new 1445H regulations.
• Revisions: Even if you have already submitted returns based on the audited financial statements, you may consider submitting revised returns that reflect the new 1445H regulations. This will streamline the ZATCA examination process, increase the possibility of the return's acceptance, and reduce the risk of additional zakat liabilities in future assessments.

We strongly recommend assessing whether applying the new regulations would be advantageous for your organization.  If so, you can request approval from the Zakat, Tax and Customs Authority (ZATCA) to resubmit your returns. 

Please note that all Zakat returns must be based on audited financial statements.

To help you navigate these changes, we offer the following support services:

• Zakat Calculation: We can calculate your Zakat liability based on the new 1445H regulations.
• ZATCA Communication: If the revised calculation is beneficial, we can assist you in communicating with ZATCA and obtaining their approval for the revised return.
• Return Preparation & Filing: We can prepare and file your revised Zakat return.

We understand that these changes may require careful consideration.  We're here to assist you in determining the best course of action.  Please don't hesitate to contact us at adaglas@sa.gt.com if you'd like to discuss this further or require our assistance.