"Law 66": Some circulars have been approved by the parliament and published at the official gazette
Majzoub and Partners, CPAs "Nexia International” would like to share with you some circulars "Law 66”that have been approved by the parliament and published at the official gazette
An abstract of these circulars are as follows:
- Reduction of penalties 85%.
- Reduction of collecting fines, municipal and mechanical 90%, until 28-2-2018.
- Tax Exemption.
- Additional time to object taxes in case of payment the 25% of the tax.
- Registration in VAT is mandatory when importing or exporting and if revenues exceed 100 Million
- Revaluation of fixed assets With a 5% tax under conditions