Towards A Unified Zakat System

Ministry of Finance & National Economy,Zakat & Income Tax DepartmentBranch:.........No.DateNotification on assessment of taxable elements on imports and contractsMr ..................As your financial year has ended and payment of tax is due on your activity forthe year ................And after reviewing your file, we detail hereunder the elements on which tax isassessed for the said year.SR15% profit on imports totalling ()..............10% profit on imports totalling ()...........5% profit on imports totalling ()Profits from other activities totalling ()..............-----------Total ProfitsExemptionTaxable incomeTax Paid on account, atbalance dueTax account10,000 x 5% _-------------20,000 x 10% _ ------------30,000 x 20% _ ------------over 30.000 x 30% _-------You are requested to pay the above amount' i. e. (SR) and we will be pleased toreceive your comments on the estimated value of imports or sales, within onemonth from receipt of this notice so that we may be able to review yourfile inAccordance with the documents submitted. Rates of profits are not subject toreview because these are prescribed in accordance with the Council of Minister'sResolution on profits on imports, and in accordance with paragraph 2 of Article4 of income tax regulations on\profits form activities other than imports.If the Branch does not receive your comments on the value of imports or saleswithin one month of this notice, it will be considered as the final assessment oftax to which will be added the delay penalty legally prescribed.