Insights

Summary of tax amendments and new taxes and duties as per Law No. 64 dated 26 October 2017 (official gazette no. 50)

Since the Law mentioned above has been issued in the official Gazette on 21 August 2017 and the new rate has been set at 7% instead of 5%, we provide with our opinion on the method of calculating tax on interest based on the new tax rate.

Summary of tax amendments and new taxes and duties as per Law no. 45 dated 21 August 2017 (official gazette no. 37) 

Article 4 of the above memo addresses the increase in and settlement of the sickness and maternity scheme contributions as follows:

Increase in contributions

Starting from 16 February 2017, the employer and employee contributions towards the social security sickness and maternity scheme have increased from 9% to 11% of a maximum LBP 2,500,000 as follows: