The National Shipping Company of Saudi Arabia
Annual Report 2008
NSCSA is keen to participate in various events, conferences and exhibitions which foster its presence in social activities. NSCSA 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. NSCSA has earmarked a special provision in its budget for social activities, awareness programs and general development projects in addition to its contribution to several activities in this regard. In 2008, among other events, NSCSA participated in the following social activities: Arranged breakfast reception for Ensan (Human Being) Charitable Society
Supported the Community Health magazine of the National Guard Subscribed to the Drug Combat Directory Subscribed to the Directory of Riyadh Specialized Center for the Disabled Supported the Down's Syndrome Charitable Association "DSCA" (Social activity)
Zakat & Tax
NSCSA and its affiliate (National Chemical Carriers) prepare Zakat returns at the end of each year, and pay their zakat dues based on those returns promptly. All the tax deductions on payments to non- resident foreign parties are paid on a regular periodic basis pursuant to applicable regulations. NSCSA did not receive any zakat assessments from the Zakat & Income Tax Department for the period from
2001 until 2007 and for its affiliate for the period from 2005 until 2007.
The Zakat and Tax provision shown in the balance sheet includes Zakat and Tax claims by the Zakat and Income Tax Department that have not been decided by the Appeals Committee to this date.
Case closed and payments are being made in semi-annual installments. Decisions # (11, 12, 13, 14, and 15) were issued by the Primary Objection Committee and NSCSA appealed these decisions which are being deliberated by the Appeals Committee but no decision has been issued yet.
1982-1995 1989-1995 1996-1998 1999-2000 Total
- 37.687 19.225 4.176 61.088
6.000 - 2.198 9.678 17.876
1991-1993 1994-1996 1997-2004 Total
15.825 7.236 12.035 35.096
12.585 12.218 24.718 49.521
NCC objections are still pending with the ZITD and no decision has been issued to this date.
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