The Department of Zakat and Income Tax has announced an increase in its revenues for the fiscal year 1434/1435 AH (2013) by more than 25 billion Saudi riyals, up 6%, compared to its revenues in the previous year; as Zakat on trade offers amounted to about 12.8 billion riyals. A report issued by the department said that Zakat proceeds are being paid to Zakat beneficiaries by the Social Security Agency of Ministry of Social Affairs, noting that revenue tax on foreign firms except tax of companies operating in the oil sector amounted to about 12.3 billion Saudi riyals.
