GAZT, SOCPA ink cooperation agreement on professional Zakat, tax project
The Saudi Organization for Certified Public Accountants (SOCPA) has signed a cooperation agreement with the General Authority of Zakat and Tax (GAZT) to train young accountants in order to start their career as Zakat and tax accountants in the public and private sectors.
As per the Cooperation agreement, the two parties will cooperate in the field of training for employment with the aim of getting the young accountants trained and prepared to work for the GAZT.
In a ceremony at the headquarters of the Ministry of Commerce and Industry, the Cooperation agreement was signed by HE GAZT’s Governor Suhail bin Mohammed Abanmi and SOCPA Secretary General Ahmed bin Abdullah Al Moghames. GAZT employees and others who wish to start their career path as Zakat and tax accountants, will go through professional aptitude tests. The SOCPA will set up rules to regulate all aspects of such tests, including their content as well as terms and conditions of applying for, organizing and passing the tests. The Cooperation agreement includes cooperation in the fields of professional consultation, research, studies on Zakat and tax accounting, and organization of conferences, meetings, panel discussions and workshops to discuss issues related to Zakat and tax accounting and identify the latest developments in the profession.
Al Moghames hoped that the efforts exerted by the SOCPA in light of cooperation with GAZT will be successful to serve the profession and employees across the KSA. He stressed the importance of developing strong relationship with governmental bodies, allowing either party to utilize the experience of the other hoping that the parties can reach agreement in order to exchange experiences. SOCPA is committed to instruct offices of certified accountants and auditors to cooperate with and provide GAZT with all the information and data needed for GAZT examination of the files of registered taxpayers and enable its employees to view client files at the offices of public accountants in order to link the files at the offices to the taxpayers' books and accounts that need to be checked, Al Moghames said. Coordination between SOCPA and GAZT will be seen in case of any violation by any accounting office, he said pointing out that, in such case, the two parties will co-inspect the respective office.
For his part, Mr. Abanmi expressed happiness for signing the memorandum, labeling it as "key and vital". SOCPA is one of the key partners in achieving GAZT’s objectives that include offering high-quality services to taxpayers, who are the source of Zakat and tax revenues, in order to satisfy them. This objective can be achieved by fair assessment of the Zakat, flexible payment and quick and easy finalization of the Zakat and tax procedures, said Mr. Abanmi.
"Our human resources are the cornerstone in our pursuit of taxpayer satisfaction and duly implementation of our tasks in light of the expansion of economic activities in all fields and the development of modern financial and commercial transactions. This requires a modern and strong institution with vast mandate, highly qualified human resources, modern technological systems, and adequate flexibility in treatment, position taking and decision making" the GAZT head said.
Abanmi stressed that the plans to qualify GAZT cadres and recruit/qualify competent young people in cooperation with SOCPA will allow the GAZT to enhance productivity and quality and satisfy the taxpayer and all parties concerned.
The expansion of taxpayers' business, whether major or small, is in the best interest of GAZT, as its revenues, poured into the country's treasury or the social security account, increase and are used in supporting KSA's financial sustainability plans, Abanmi said.
"GAZT will exert the utmost effort to satisfy the taxpayers, allow them to calculate the Zakat and tax and streamline the payment of tax", he said. "Our qualified and highly trained employees, who are supported by cutting-edge electronic systems, will do their best to quickly, efficiently, respectfully and confidently carry out the taxpayers' transactions."
SOCPA will play a major role in achieving the objectives of GAZT by qualifying our resources and by enabling us to optimally cooperate with all SOCPA-licensed accounting offices, Abanmi concluded.
GAZT - SOCPA Cooperation Agreement
1- Provide and train specialists in accounting and tax sectors and equip them with the skills needed for the job market
2- Recruit talents through training for employment and set rules for selecting and preparing the talents to work for the GAZT
3- Conduct professional aptitude tests for the GAZT and other accountants who are willing to practice Zakat and tax accounting
4- Cooperate in professional consultation, research and studies