Tax Alert - Annual lump sum tax suspended for 3 years till 2021

December 7, 2018

Tax Alert - Annual lump sum tax suspended for 3 years till 2021

Dear clients,

Please be informed that the Law #108 dated 30th November 2018 and published in the Official Gazette #52 on the 6th December 2018 (attached a scanned copy) has suspended for 3 years the implementation of the annual lump sum tax (article 39 of the Law #173/2000) that had to be initially paid by all taxpayers before the 30th September 2018 for the current year. The 3 years suspension is effective from the date of this Law i.e. till 30th November 2021. The taxpayers who already paid this annual lump sum tax can claim it back from the Ministry of Finance according to a procedure to be defined by the latter within a month following the publication date of this Law.                                                                       

We remain at your disposal should you need any further clarification or information on this subject.

Best regards,

DAHER & PARTNERS

Office:     +961.4.721.333

Fax:          +961.4.721.444