Zen: the ruling in favor of the Iraqi Ministry of finance in the case of "I'm on drugs."


11 August 2016 10:09 am


Kuwait-mobile telecommunications company said direct: (Zain ZAIN), Kuwait Stock Exchange-listed company raised Iraq Communications Ltd, a subsidiary of the company, was informed on 10 August 2016 Iraqi court resolutions on 26 June (without the presence of the parties, as is the nature of the actions in Iraq).

"Zen" in informing the stock exchange, said Thursday that the resolution cited "impact" in previous resolutions supported guaranteed ruled dismissed by the latter against the Ministry of Finance of the Republic of Iraq on the capital gains tax which try to tax authority in Iraq imposed on sale "iraqna" to "observations".

Zain said, that impact "will advance to the Iraqi court for correct judgement referred to, as a group, the Iraqi Ministry of finance in the negotiation phase with the aim of resolving this dispute at present, in addition to tax disputes with the General Commission for taxes.

Zen noted in informing the stock exchange, the financial impact of the previous sentence can not currently selected, so that the overall "will advance to the Iraqi court for correct judgement referred to.

Zain shares have settled on the price of 335 penny, after the first hour of the hearing today Kuwait stock exchange through circulation of 1.1 million shares, valued at 367.15 thousand dinars.


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