The Minister of Finance and Chairman of the Board of Directors of the General Authority of Zakat and Tax (GAZT) Muhammad Al-Jadaan has approved that the state bear the Zakat and income tax ensuing from investing in Sukuk (bonds) and debentures that are issued by the Minister of Finance locally in Saudi riyals until their due date.
According to the decision, which Okaz has seen, the state will bear the tax if the Sukuk or debentures holder submits his undertaking during the legal period in line with GAZT procedures.
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