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Is a company, which fully owns several subsidiary companies outside Saudi Arabia, required to introduce the business results of such subsidiaries within the accounts of the parent company?

A holding company, and its wholly-owned subsidiary companies whether they are registered inside or outside Saudi Arabia and whether they are its direct or indirect property, will be required to submit consolidated accounts and zakat returns and it will be charged on the basis of their results based upon a unified zakat base.

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Last Update: 04 Sep 2020 06:06 PM Saudi Arabia Time