Among the most important contributions of NSCSA to social activities are the following: • Support a campaign about Diabetic Patients conducted by the Health Awareness Committee; • Support swine flu (H1N1) awareness campaign organized by the Health Awareness Committee; • Support to theDownSyndromeCharityAssociation (DSCA); • Support to the Charitable Society for Orphans (Ensan); • Sponsorship of certain Islamic awareness publications.
In line with its national mission and stated objectives, it is the conviction of NSCSA that social work constitutes an important success factor, and promotes the concept of national affiliation at the level of the company and its employees. For this reason, the company is interested to participate in various social events, conferences and exhibitions that serve the objective of establishing an active presence in the field of social responsibility. NSCSAalways adheres to religious and ethical values and pays special attention to social, humanitarian and advocacy activities at the local level besides its economic and developmental role and as such, NSCSA has earmarked a special provision in its budget for social and scientific activities, awareness- raising and general development projects.
Zakat & Tax
did not receive any zakat and tax assessments for the period from 2005 to 2008. NSCSA and its affiliate allocated what they believe to be a sufficient provision to meet any zakat and tax claims for these periods. The zakat and tax provisions shown in the statement of financial position covers zakat and tax claims by the DZIT or related committees.
NSCSA and its affiliate (National Chemical Carriers) compute and file Zakat returns at the end of each year, and pay the applicable zakat dues in a timely manner. All tax deductions on payments to non- resident foreign parties are also paid on a regular periodic basis pursuant to applicable regulations. NSCSA has not received any zakat assessments from the Department of Zakat & Income Tax (DZIT) for the period from 2001 to 2008 and tax assessments for the period 2001-2004. Additionally, NSCSA’s affiliate
Tax Claims Zakat Claims
Case closed and payments are being made in semi-annual installments. This amount represents the final payment which is due in June 2010.
In Thousands Saudi Riyals
Annual Report 2009 The National Shipping Company of Saudi Arabia
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