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Revenue from zakat, tax hit SR23.5bn in 2012
- Saudi Arabia: Monday, January 07 - 2013 at 04:13
Saudi Arabia's Zakat and Revenue Department has posted an 18% increase in its revenue in 2012 to SR23.5bn, Arab News has reported. Revenue earned through Zakat of trade amounted to more than SR11bn, while revenue from taxes imposed on foreign companies reached SR12bn. The department said the revenue from Zakat is transferred daily to the account in Saudi Arabian Monetary Agency for payment to the poor beneficiaries of social insurance.
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