Tax Alert: MoF decision #228/1 dated 22nd June 2020 - Settlement of VAT and withheld taxes due till 31/12/2018 by installments

Tax Alert: MoF decision #228/1 dated 22nd June 2020 - Settlement of VAT and withheld taxes due till 31/12/2018 by installments

Dear All,

Please be informed about the Ministry of Finance (MoF) decision #228/1 dated 22^nd 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 31^st 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,