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

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

Dear clients,

Please be informed that the Law #108 dated 30^th November 2018 and published in the Official Gazette #52 on the 6^th 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 30^th September 2018 for the current year. The 3 years suspension is effective from the date of this Law i.e. till 30^th 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

Fax:          +961.4.721.444