Memorandum of understanding between the SOCPA and the Zakat and Income Authority to Ensure complianc

On June 23, 2020, SOCPA signed a memorandum of understanding with the General Authority of Zakat and Income to establish a framework for cooperation between the two entities to enhance the compliance with the requirements of Zakat and tax returns.

The memorandum aims to cooperate in field visits to accounting offices to ensure compliance with the requirements of Zakat and income, as well as requirements of SOCPA's professional performance quality control program.

The memorandum also stipulated encouraging accounting offices to participate in specialized courses and workshops held by the Zakat and Income Authority.

This memorandum, which will extend over a period of three years, is part of the General Authority of Zakat and Income and other government agencies efforts to enhance the requirements of Zakat and tax review and ensure compliance with the instructions and controls issued by the SOCPA with respect to the collection of Zakat and tax.