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Net Workers owed 12.87M riyals VAT from Zakat Authority
Saudi-based Networkers Services Company announced that it has received a notification regarding the results of its 2024 Value Added Tax (VAT) declarations review. The notice included a tax assessment of 12.87 million SAR and fines totaling 3.69 million SAR. The company clarified that it has accepted the tax discrepancies and is in the process of completing the necessary procedures. It also indicated that the fines are covered by the exemption initiative applicable once the conditions are met. Additionally, the company stated that it has allocated financial provisions to face potential liabilities and does not currently expect any material financial impact. The company will continue to study the situation and will announce any future developments.
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