Net Workers get 12.87M VAT from Zakat Authority
Networkers Saudi Services Company has announced that it has received a notice from the Zakat, Tax, and Customs Authority regarding the audit results for Value Added Tax (VAT) for the year 2024. The notice includes a tax assessment amounting to 12.867 million riyals and fines reaching up to 3.69 million riyals. The company confirmed its acceptance of the tax differences and is working to complete the necessary procedures, noting that the penalty waiver period might apply according to the applicable conditions. Additionally, the company has allocated financial provisions for this assessment in its 2025 financial statements. It does not currently expect any material additional financial impact, as it awaits further clarification on the possible application of the waiver to the fines.
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