Tax Alert: MoF decision #228/1 dated 22nd June 2020 - Settlement of VAT and withheld taxes due till 31/12/2018 by installmentsJune 26, 2020
Tax Alert: MoF decision #228/1 dated 22nd June 2020 - Settlement of VAT and withheld taxes due till 31/12/2018 by installments
Please be informed about the Ministry of Finance (MoF) decision #228/1 dated 22nd June 2020 (attached a scanned copy) on the possibility to settle the unpaid Value Added Tax (VAT) and the withheld taxes (tax on salaries, tax on interest, etc.) and penalties due till 31st December 2018 by installments. The first installment should represent at least 15% of the due taxes and the installment period should not exceed 3 years. Any delay in the settlement of any, then all installments will be due and will subject the remaining unsettled balance to an additional 12% delay interest.
We remain at your disposal should you need any further clarification or information on this subject.
Best regards,DAHER & PARTNERS