Business & Money | Saturday 16 November, 2019 4:44 am |

The leading Saudi Company for Exchanging Digital Information (Tabadul), and its Integrated import and export platform (Fasah) participated in the Zakat and Tax Conference, which was held at the Ritz-Carlton Hotel in Riyadh 13 – 14 November.

 

During the conference, where the most important challenges facing the economic sector and the latest changes in the field of international taxation were reviewed, Tabadul focused on its role in developing its services to the logistics and economic sectors and its projects in general, while Fasah showcased the most recently launched services, especially the online payment service ‘Fasah Pay,’ which offers financial solutions based on flexibility and reliability.

 

Abdul Aziz Al Shamsi, CEO of Tabadul said: “Tabadul and its electronic window, Fasah, are participating in this event, which was held for the first time in the Kingdom of Saudi Arabia (KSA), whereby we presented our vision, objectives, and achievements through our pavilion — in line with the Kingdom's Vision 2030 — to a wide range of international and local organisations, specialists in the field of Zakat and tax, and those interested in the accounting sector as well as introduced them to our innovative contributions that are expected to make a qualitative leap in the Kingdom.”

 

At the conference, Tabadul informed its visitors about its latest initiatives and services as well as showcased the services that Fasah and Fasah Pay offered, which was organised for the first time by the General Authority for Zakat and Income, under the patronage of the Minister of Finance and Chairman of the Zakat Authority Mohammed bin Abdullah Al-Jadaan. Participants discussed the legislation related to regulations in the Kingdom and abroad.

 

Al Shamsi concluded: “This event was important for us as it allowed us to observe the latest tax developments at the national, regional, and global levels as well as their effects on economic activities and the ways to overcome the challenges related to the methods of calculating Zakat and accounting standards. We are witnessing major developments that are expected to bring about radical tax changes, regionally and globally, that will help us be better prepared to take the necessary steps to cope with the emerging requirements."

 

The conference attracted commissioners and heads of international tax authorities and was also attended by representatives of a number of government entities interested in the fields of Zakat and tax, including accountants and financial managers as well as specialists in the Value Added Tax (VAT). The conference also attracted the attention of academics, relevant regulatory and legislative bodies, and many specialists in the field from inside and outside the KSA.