Question

Ajyal Foreign Company (a resident money company) ends its tax year on 31/31/2019 and submitted its tax return according to the approved form by the company where it violates ( dissent )the form that approved by the Zakat and Income government on 29/6/2020 with payment of the full tax due to link the net income.

Noted that its net revenue is 800,000 and its tax-acceptable expenses are equal to 600,000 Saudi riyals, so how much is the total paid to the government? ( its Islamic rules )

Answer 1

If compnay does not violates the dorm approved by Zakat than rate of tax will be 2.5%% but now, due to violation of form approved by Zakat, Rate of tax will be 20%.

Net Revenue = 800,000

Less:- Tax Acceptable expense = 600,000

Net Taxble Income = 200,000

Tax @20% of 200,000 is 20,000

it will be paid to government.