Saudi's Zakat department to be independent

29 June 2010

Saudi Arabia's Shoura Council has approved a motion to allow the department of Zakat and Income Tax to function as a separate authority, Arab News has reported. The council also recommended that private sector firms whose capital exceeds SR500,000 ($133,000) should be compelled to maintain their book of accounts to show income and pay Zakat accordingly. Currently, the department functions under the department of the ministry of finance.

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