TAX ALERT FEBRUARY 2025 | EXTENSION OF THE APPLICATION OF THE ZAKAT REGULATION FOR THE YEAR 1445 TO FINANCIAL YEARS BEGINNING BEFORE JANUARY 1 2024

Extension of the Application of the Zakat Regulation for the year 1445 to Financial Years Beginning Before January 1, 2024.

The Minister of Finance issued Resolution No. 947 on 27/07/1446, amending the duration mentioned in paragraph (D/1) of Section Four of Ministerial Resolution No. 1007 dated 19/08/1445, concerning the application of the provisions of the Zakat Regulation for the year 1445 to financial years that begin before 01/01/2024, according to the following conditions:

• The application must be submitted within a period not exceeding April 30, 2025.
• The conditions mentioned in Ministerial Resolution No. 1007 dated 19/08/1445 must be adhered to.
• The exception mentioned in the ministerial Resolution, which allows the Zakat payer to apply within 60 days from the date of notification by the Authority of its intention to start reviewing financial years that start after Ministerial Resolution No. 1007 became effective, remains unchanged.

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