Kuwait-Mubasher: Mobile Telecommunications (Zain) said that its claim against the undersecretary of the Kuwaiti finance ministry has been rejected by the court of first instance which also obliged the operator to pay KWD 64,728 as part of a sub-case.
Commenting on the court’s unfavourable decision in the sub-case, Zain released a bourse statement on Thursday stressing it will be challenged.
The rejected lawsuit was filed by the telco to overturn a decision earlier taken by the ministry’s tax committee to alter the company’s taxes, and instead invoke the tax endorsed by Zain in its adjusted tax report for the fiscal year ended 31 December 2007.
Separately, another verdict is anticipated by the telecom company this month, as the undersecretary of Kuwait’s transportation ministry had sued the mobile operator to provide the number of its subscribers, another case already challenged by Zain.
Nine-month profits of the company retreated 26.6% to KWD 118.19 million.
