Article No. 1
The texts of the two definitions mentioned next to the phrases “reality company” and “associated person” of Article 1 of the Income Tax Law promulgated by Law No. 91 of 2005, and the texts of Articles 3 / Items B – J, 4, 8, 13 / Items 1, 22, shall be replaced.
Item 2, 33 / fourth paragraph, 46 bis, 46 bis 2 / first paragraph, 46 bis 3 / first paragraph, 46 bis 4, 46 bis 5, 50, 52 / item 1, 56 / third paragraph, 56 bis, 58 / Paragraph 2, 139, the following texts:
- Reality company: A company that is established or continues between natural persons without fulfilling the procedures for convening or registering, and it is not considered a company in reality of the sole proprietorship that has been inherited, provided that one declaration is submitted on it including the share of each heir in it.
- Linked person: Every person related to a taxpayer by a relationship that affects the determination of the tax base, directly or indirectly, whether through management, control or ownership. or suggestions, or the will of the other person, or a third person.
The following persons are treated as related persons:
- Husband and wife, assets and branches.
- A company of persons, joint partners and trustees.
- A capital company and the person who owns, directly or indirectly, at least 50% of the voting or management rights in the company, or the rights to distribute profits, or the capital rights.
- Any two or more companies in which another person owns at least 50% of the voting or management rights, the rights to distribute profits, or the capital rights in the two or more companies.
When applying clauses 2, 3 or 4 of the previous paragraph, the possession that is attributed to a person by a related person may not be attributed to another related person.
Two persons are not considered related simply because one of them is considered a worker or agent for the other person, or both of them are considered workers or agents for a third person, unless this connection affects the determination of the tax base, directly or indirectly.
Article 3
Clause B – Y:
(b) Income borne by an employer residing in Egypt, even if the work is performed abroad.
(j) Rent, licensing fees and royalties borne by a person residing in Egypt, or borne by a permanent establishment in Egypt even if its owner is not a resident there.
Article 4
In the application of the provisions of this law, the permanent establishment means every fixed place of business through which all or some of the project works of a non-resident person in Egypt are carried out, and include in particular:
- Management place.
- branch.
- the desk .
- the factory .
- The workshop.
- Mine, oil field, gas well, quarry, or any other place of extraction of natural resources including timber or any other production from forests.
- farm or plantation.
- Buildings, facilities and stores used as outlets for sale.
- A building or construction site, installation or assembly project, or supervisory activities related thereto, in the event that the site, project, or activities continue in Egypt for a period or periods in total that exceed ninety days during any twelve-month period.
The following shall be considered as a permanent establishment:
- Any activities carried out in Egypt in connection with the exploration, extraction or exploitation of natural resources, including the use or installation of substantial equipment,
This is for a period or periods totaling more than ninety days during any twelve-month period.
- The performance of services, including advisory services provided by a project through employees or other individuals whom the project uses for this purpose, in the event that the service continues to be performed for the same project or a project related to it in Egypt for a period or periods exceeding in total more than ninety days during any period Duration of twelve months.
- An insurance project affiliated to one of the countries, with the exception of what is related to reinsurance, if it collects premiums in Egypt or insures existing risks through a person other than the independent agent.
- If a person in Egypt on behalf of an enterprise in another country carries on business in Egypt, as an independent agent and works for the enterprise within the limits of his usual business, however if that person acts exclusively or almost exclusively on behalf of one or more enterprises with which he is closely associated, he shall not He is considered an independent agent within the meaning of this paragraph in relation to any such project.
- A person who works for a subordinate project when he has the authority to conclude contracts in the name of the project and to approve unless his activities are limited to purchasing goods or merchandise for the project, and also if this person usually concludes contracts, or usually plays the main role in concluding contracts that are concluded repeatedly without Substantial modification
By the project these contracts were:
1- The name of the project.
2- To transfer ownership, or to grant the right to use the property owned by the project or which it has the right to use.
3- To provide the services provided by the project.
- f) Projects or activities with a duration of more than ninety days, if:
1- A project of a non-resident company carries out activities in Egypt in a place that constitutes a building site, construction or installation project, or another specific project mentioned in the first paragraph of this article, or carries out supervisory or advisory activities related to this place.
2- The related activities were carried out in Egypt at the same building site, construction project, installation, or any other place mentioned in the first paragraph of this Article applicable to related supervisory or advisory activities, during different periods of time, by one or more projects closely related to the project.
These different periods of time shall be added to the total period of time during which the first-mentioned project carries out its activities at the construction site, construction or installation project, or any other place referred to in the first paragraph of this article.
Article No. 8
The tax rate on net income is as follows:
- Net income that did not exceed 600,000 pounds
- Net income that exceeds 600,000 pounds and did not exceed 700,000 pounds
- Net income that exceeds 700,000 pounds and did not exceed 800,000 pounds
- Net income that exceeds 800,000 pounds and did not exceed 900,000 pounds
- Net income that exceeds 900,000 pounds and did not exceed 1,200,000 pounds
- Net income more than one million two hundred thousand pounds 1,200,000
The tax rate is:
- 0.00% from 1 EGP to 21.00 EGP
- From EGP 1 to EGP 30,000 – More than EGP 21,000 to EGP 30,000 2.5%
- From EGP 1 to EGP 45,000 – More than EGP 30,000 to EGP 45,000 10%
- 1 EGP to 60,000 EGP – More than 45,000 EGP to 60,000 EGP 15%
- From EGP 1 to EGP 200,000 – More than EGP 60,000 to EGP 200,000 20%
- More than 200,000 pounds to 400,000 pounds 22.5%
- More than 400,000 pounds and from 1 pound to 200,000 pounds 25%
- More than 1,200,000 EGP 27.5%
When calculating the tax, the total annual net income is rounded to the nearest ten pounds less.
Article 13
Clause 1: 1- The amount of 15,000 pounds as an annual personal exemption for the financier.
Article 22
Clause 2: 2- It must be real and supported by invoices or electronic receipts as of July 2023 for electronic invoices and January 2025 for electronic receipts, and the Minister may extend the two deadlines for a period not exceeding one year as determined by the executive regulations of this law, with the exception of costs and expenses that have not been It is customary to prove them with documents, and the Minister may exempt some costs and expenses from requiring proof of them by an electronic invoice or electronic receipt.
Article 33
Fourth paragraph:
In applying the provisions of Clauses 3 and 4 of the third paragraph of this article, it is stipulated that the total amount exempted for the taxpayer should not exceed 15% of the net taxable revenue or the amount of 10,000 pounds annually, whichever is less.
Article No. 46 bis:
The tax applies to dividends on shares and quotas obtained by a natural person residing in Egypt from capital companies or partnerships, including companies established under the system of economic zones of a special nature, with the exception of distributions that take place in the form of free shares, whether these distributions are realized in Egypt or Abroad and whatever the image in which the distribution takes place.
In applying the provision of this article, civil companies shall be treated as companies of persons.
The tax also applies to profits, returns and investment distributions obtained by policyholders in investment funds in debt instruments, venture capital funds and companies, equity investment funds, real estate investment funds, and holding funds established in accordance with the Capital Market Law promulgated by Law No. 95 of 1992. .
Article 46 bis 2 / first paragraph:
As an exception to the provision of Article 8 of this law, the tax rate on the dividends stipulated in Article 46 bis of this law, achieved from a source in Egypt during the year that a resident natural person receives, shall be 10%, without deducting any costs,
and this rate shall be reduced to 5% if the securities are listed on the Egyptian Stock Exchange, and the tax rate is on the profits, returns and investment distributions obtained by policyholders in investment funds in debt instruments, venture capital funds and companies, equity investment funds, real estate investment funds and holding funds Established according to the aforementioned capital market law, 15% for legal persons, and 5% for natural persons.
Article 46 bis 3 / first paragraph:
The tax shall apply to the capital gains realized from the disposal of securities or stakes in companies, whether these profits are realized in Egypt or abroad, and the exchange of shares that takes place between a company registered in the Egyptian Stock Exchange and a company that is not listed in it is not considered a taxable disposal.
Companies whose shares are deposited in one of the central depository and registry companies. Once these shares are disposed of, the actual acquisition cost of the shares before the exchange is taken as a basis for calculating capital gains.
Article 46 bis 4:
Taxable capital gains are determined on the basis of the net value of these profits in the securities portfolio achieved at the end of the tax year on the basis of the difference between the selling price, exchange or any form of disposal of securities or shares, and the cost of their acquisition, after deducting the brokerage commission.
The executive regulations of this law specify the rules for calculating the cost of acquisition, in coordination with the General Authority for Financial Supervision, with regard to the forms of disposal of shares and bonds traded on the Egyptian Stock Exchange, in light of the following with regard to listed shares:
1- A percentage of the revenue shall be deducted as governmental costs in return for what the financier bears in return for realizing the revenue, not exceeding five per thousand of the value of transactions for both sale and purchase.
2- In the case of the first offering, 25% of the realized capital gains value shall be added to the acquisition cost, in relation to the offering of shares upon listing in the Egyptian Stock Exchange.
3- In the event that other tranches are offered according to an information memorandum or disclosure report approved by the Financial Regulatory Authority after the first offering, 25% of the realized capital gains value will be added to the acquisition cost, regardless of the number of offering times.
A percentage of the capital gains of the shares registered in the Egyptian Stock Exchange achieved by the natural person shall be deducted equal to the credit and discount rate announced by the Central Bank on the first of January for the period of holding the disposed shares, provided that it does not exceed the cost of financial investments sold multiplied by the credit and discount price declared in The first of January of the year of sale, and the approved cost shall not exceed the profit of each share separately.
Article 46 bis 5:
As an exception to the provision of Article 8 of this law, the capital gains stipulated in Article 46 bis 3 of this law that residents obtain from natural and legal persons from dealing in securities listed on the Egyptian Stock Exchange, without deduction, are subject to tax at the rate of 10%. No costs.
In the event that a decision is issued to consider the listing in the Egyptian Stock Exchange as null and void, the capital gains realized from the exchange of shares in accordance with the first paragraph of Article 46 bis 3 of this law or from the shareholder’s disposition of the subscribed shares when the company’s capital is increased are subject to tax on the date of the decision at the price.
Determined in Article 8 or Article 49 of this law, as the case may be, without prejudice to the provisions of Article 92 bis of this law.
The entities that settle the transaction must calculate the tax due in accordance with this article, collect it, and remit it to the Authority, according to the form prepared for that, and according to the procedures and on the dates specified by the executive regulations of this law.
In this regard, without prejudice to the interest’s right to refer back to the person concerned in the event of non-compliance in accordance with the provisions of this law.
Article 52
Clause No. 1:
1- The debit returns paid by the legal persons stipulated in Article 47 of this law on loans and advances that they obtained in excess of double the average property rights according to the financial statements that are prepared according to the Egyptian accounting standards, and the provisions of this item do not apply to banks and insurance companies, The same applies to companies that carry out the financing activity, which are determined by a decision of the Minister.
Article No. 56
Third paragraph:
The proceeds of loans and credit facilities obtained by the government, local administration units and other public legal persons from sources outside Egypt shall be exempted from the tax stipulated in this article.
Article 56 bis:
Subject to tax at a rate of 10% without deducting any costs of dividends made by capital companies or partnerships, including companies established under the economic zones system of a special nature for a non-resident natural person and a resident or non-resident legal person, including the profits achieved by non-resident legal persons Through a permanent establishment in Egypt, except for the distributions that take place in the form of free shares, and the rate of this tax is 5% of the dividends if the securities are listed on the Egyptian Stock Exchange without deducting any costs.
In applying the provision of this article, civil companies shall be treated as companies of persons.
The profits of non-resident legal persons achieved through a permanent establishment in Egypt shall be deemed to be distributed within sixty days from the date of the end of the fiscal year of the permanent establishment. Dividends obtained by resident legal persons from other resident legal persons and the corresponding cost shall be excluded from the tax base on the profits of legal persons provided for in Volume Three of this law, as determined by the executive regulations of this law.
The tax paid on distributions obtained by the distributing company from another resident company shall be deducted from the tax due on distributions paid to a resident company, according to the following conditions:
- The discount shall be within the limits of the value of the distributions attributed to the total revenues achieved by the distributing company.
- If the shareholding in the distribution company exceeds 25% of the resident company’s capital or voting rights.
- The period of the company’s possession of the shares or quotas should not be less than two years from the date of acquisition of the shares for the companies whose shares or stocks and quotas are deposited in one of the central depository and registry companies.
- The deducted tax should not exceed the tax that is withheld on the same distributions paid, and the executive regulations of this law specify the method of calculating it.
The executive regulations of this law specify the rules and controls for deduction, and the parties that carry out the transaction must withhold the tax and remit it to the Central Administration for Withholding and Collection under the tax account at the Authority within a maximum of five working days from the beginning of the month following the month in which the collection took place, on the form prepared for that.
Article No. 50:
Exempted from tax:
- Ministries and government departments.
Canceled:
- Associations and civil institutions established in accordance with the provisions of the law regulating civil work, within the limits of the purpose for which they were established.
- Non-profit entities that engage in activities of a social, scientific, sports or cultural nature, within the limits of their activity that is not of a commercial, industrial or professional nature.
- Profits of private insurance funds subject to the provisions of the Private Insurance Funds Law promulgated by Law No. 54 of 1975
- International organizations, technical cooperation bodies and their representatives, which an international agreement provides for their exemption.
- Returns of non-governmental bonds listed in the Egyptian stock exchanges.
Canceled:
- Returns obtained by legal persons from securities and certificates of deposit issued by the Central Bank of Egypt, or revenues resulting from dealing in them, as an exception to the provision of Article 56 of this law.
- Dividends obtained by the parent company or the holding company from resident and non-resident subsidiaries after adding 10% of the distribution value to the taxable base of the parent company or holding company for non-deductible costs, provided that:
A- The shareholding of the parent company or the holding company shall not be less than 25% of the subsidiary company’s capital or voting rights.
b- The period of possession of the parent or holding company for that percentage shall not be less than two years, or it shall commit to keeping this percentage for a period of two years from the date of acquisition of shares or voting rights.
Clause No. 11
Profits of land reclamation or cultivation companies for a period of ten years from the date of commencement of activity or commencement of production, as the case may be, in accordance with the rules specified by the executive regulations of this law.
12
Profits of poultry production companies, beekeeping, livestock breeding and fattening pens, fisheries companies and fish farms for a period of ten years from the date of practicing the activity.
Clause No. 13
Capital gains resulting from settlements made on the debts of public business sector companies or companies in which the state owns no less than 51% of their capital, within the framework of settlements of debts of these companies with banks and other creditors, in exchange for transferring ownership of all or some of their lands.
Exemption in this case is within the limits of the percentage of what the state owns in the capital of these companies.
Clause No. 14
Profits of investment funds in debt instruments and profits of investment funds holding in the instruments themselves or in investment funds in these instruments established in accordance with the aforementioned capital market law, and within the limits of the purpose for which they are authorized, as well as what the policyholders get from the return on investment in these funds, and that All of this is provided that the fund’s investments in bank deposits do not exceed 10% of the average total of its annual investments, and all this without prejudice to the provisions of Article 58 of this law.
Clause No. 15
Profits of investment funds in shares listed on the Egyptian Stock Exchange, and profits of investment funds holding in the shares themselves or in investment funds in these shares established in accordance with the aforementioned capital market law, and the distributions and capital gains received by these funds, as well as what they obtain from Returns on their bank deposits,
and the returns obtained by the holding investment funds from the invested funds, all of this on the condition that the stock portfolio is limited to the shares of companies listed on the Egyptian Stock Exchange, and all of this without prejudice to the provisions of Article 58 of this law and within the limits of the licensed purpose. with it .
Clause No. 16
The profits of venture capital funds and companies established in accordance with the aforementioned capital market law, and within the limits of the purpose for which they are licensed, and the dividends and capital gains they obtain, as well as the returns they obtain on their bank deposits, all under the following conditions:
- a) The percentage of investments in resident startups that are not listed on the Egyptian Stock Exchange should not be less than 80% of the total investments at the end of the investment allocation period stipulated in the information memorandum or subscription prospectus, as the case may be.
- b) The debt financing leverage should not exceed 20% of the total investments.
This exemption does not apply to any revenues or profits of the funds and companies referred to from other sources, all without prejudice to the provisions of Article 58 of this law.
Clause No. 17
The profits of charitable investment funds established in accordance with the aforementioned capital market law, and within the limits of the purpose for which they are authorized, and the distributions and capital gains that these funds receive, as well as the returns they obtain on their bank deposits, all of this on the condition that the investment returns of these funds are used In the charitable activities for which it was established, without prejudice to the provisions of Article 58 of this law.
Clause No. 18
The profits of real estate investment funds established in accordance with the aforementioned capital market law, and within the limits of the purpose for which they are licensed, and the revenues of real estate wealth, distributions and capital gains, as well as the returns they obtain on their bank deposits, all under the following conditions:
- a) That the fund invests its money in shares of companies, real estate funds, or built real estate, at a percentage of not less than 80% of its annual average total investments.
- b) That 80% of the fund’s revenues consist of consideration for leasing real estate assets and dividends from shares of real estate companies, capital gains from selling fixed assets or capital gains realized from selling shares of real estate companies, profits, returns and investment distributions that the fund obtains from other real estate funds.
- c) Not to engage in real estate development or contracting activities.
All this without prejudice to the provisions of Article 58 of this law.
In the application of the provisions of clauses Nos. 14, 15, 16, 17, 18 of this article, what the natural or resident legal person receives from the policyholders is excluded from the tax base to which this person is subject, after deducting the related costs, as determined by the executive regulations of this the law .
The deduction of any tax exemption provided for in this law or in any other law may not result in carrying forward the losses to subsequent years.
Article No. 58
Second paragraph:
Returns of treasury bills and returns paid in favor of entities with a credit balance in the unified treasury account are subject to tax at a rate of 20% without deducting any costs.
Article No. 139
A Higher Council for Taxes shall be established, headed by the Prime Minister. Its headquarters shall be in Cairo. It aims to guarantee the rights of taxpayers of all types and to assist them in fulfilling their legal obligations imposed on them by tax laws and other relevant laws.
The terms of reference of the council responsible for the income tax law and other laws
The council is concerned with the following:
1- Studying and approving the taxpayers’ bill of rights.
2- Expressing an opinion on draft tax laws, as well as draft executive regulations.
3- Preparing studies and submitting proposals that help improve the performance of tax authorities. The Ministry of Finance may present to the Council any tax issues for discussion.
4- Receiving complaints and grievances of taxpayers and other stakeholders, discussing them with the competent tax authorities, working to resolve them, and preparing a report on them to be submitted to the Council of Ministers.
5- Providing legal and technical assistance to taxpayers and other interested parties who are unable, through seeking help from accountants and lawyers to defend their interests before the competent committees and courts.
6- Assisting tax authorities in preparing tax work guides that help inform taxpayers and other stakeholders of their tax rights and obligations.
7- Proposing mechanisms to address the phenomenon of tax arrears in all types of taxes and customs.
8- Coordinating with the Supreme Council for Investment and the Ministry of Finance to enhance the uses of tax as a catalyst for economic activity, adjust the relationship between investors and the state in the light of the review of tax and customs legislation, procedures and incentives, and measure cases of tax compliance for investors.
9- Continuous measurement of tax administration projects and the extent to which they depend on the actual, fair basis in collecting all types of taxes and customs, and its procedures to reduce tax appeals and disputes to the lowest possible extent.
The formation of the Council, the determination of any other competencies for it, and its work system shall be issued by a decision of the President of the Republic.
Article No. 2
To the definitions mentioned in Article 1 of the aforementioned Income Tax Law, the following definition shall be added:
- Civil Companies: Non-commercial companies established in accordance with the provisions of the Civil Code or any other law.
New articles with numbers 4 bis, 46 bis 3 / fourth paragraph, 46 bis 7, 72 bis, 149, whose texts are as follows:
Article 4 bis
As an exception to the provisions of Article 4 of this law, all of the following are not considered a permanent establishment:
- Utilizing the facilities only for the purpose of storing or displaying the commodities or merchandise owned by the project.
- Keeping a stock of goods or merchandise owned by the project only for the purpose of storage or display.
- Maintaining a stock of goods or merchandise owned by the project solely for the purpose of operating it by another project.
Using a fixed place of work only for the purpose of purchasing goods or merchandise or collecting information for the project.
- Using a fixed place of work only for the purpose of carrying out any other activity of a preparatory or auxiliary nature for the project.
And the. Using a fixed place of work only to combine any of the activities stipulated in clauses a, b, c, d, and e of this article, provided that the overall activity of the fixed place of work resulting from the sum of these activities is of a preliminary or auxiliary nature.
- A company residing in another country under the control of a company residing in Egypt, or carrying on an activity in that other country.
Likewise, the activities stipulated in this Article are not considered a permanent establishment if they are carried out by a person who works for a subsidiary project and does not play any role in concluding contracts.
The provision of this Article shall not apply to any fixed place of business used or maintained by an enterprise or a closely related enterprise carrying on business activities in the same place.
Or elsewhere in Egypt:
- That place or any other place shall constitute a permanent establishment for the enterprise or the enterprise closely associated with it under the provisions of this article.
- The aggregate activity resulting from the combination of activities carried on by the two enterprises in the same place, or by the same enterprise or closely related enterprises in the two places, is not of a preparatory or auxiliary nature, provided that the activities carried out by the two enterprises in the same place, or by the same The closely related project or projects in the two places are complementary functions that are part of a cohesive business operation.
A person is considered to be closely related to an enterprise based on all relevant facts and circumstances or to control the other or if both are under the control of the same persons or enterprises, and in any case a person is considered to be closely related to an enterprise if one of them directly or indirectly owns more than 50% of total shares, voting rights, or equity.
Article 46 bis
Clause No. 3/fourth paragraph:
In the event that the person disposing of unlisted securities and stakes in companies is a non-resident, he shall be obligated to calculate and remit the tax on realized capital gains, within sixty days from the date of the transaction, and as determined by the executive regulations of this law.
Clause No. 7: The tax is deferred on the capital gains achieved by the natural or legal person in the event that some or all of his shares are sold in offering operations on the Egyptian Stock Exchange to increase the capital of the company in which he contributes, provided that these profits are subject to when the shareholder disposes of the subscribed shares. In it when the company’s capital is increased, and the actual acquisition cost of the shares before the offering is taken as a basis for calculating the capital gains, taking into account the provisions of the fourth paragraph of Article 46 bis 4 of this law.
Article 72 bis
Non-original employers must deduct 10% on account from the value of what they pay to resident persons, and transfer it to the competent tax office within the first fifteen days of each month, and they are obligated to notify the original employer and the tax authority of what the person has obtained and the tax deducted, provided that the employer The original work shall calculate and settle the tax in accordance with Article 8 of this law, and the executive regulations of this law shall determine the rules and procedures for deduction and settlement.
Article No. 149
A natural person financier shall be entitled to an incentive not exceeding 5% of the tax due annually if he submits electronic invoices and receipts, and the Minister shall issue the controls and procedures implementing this.
Article 3
Non-final taxes due on the date this law comes into effect on establishments and companies whose annual turnover does not exceed ten million pounds in accordance with the provisions of Articles 93 and 94 of the Small, Medium and Micro Enterprises Development Law promulgated by Law No. 152 of 2020, and not less than the value of taxes
mentioned in the tax returns of these establishments and companies, without prejudice to the right of the taxpayer to choose to be tax accounted in accordance with the provisions stipulated in the tax law.
on the aforementioned income.
Article 4
The unpaid tax on capital gains due on the disposal of shares listed on the Egyptian Stock Exchange during the period from January 2022 until the date of entry into force of the provisions of this law shall be waived.
Article No. 5
As an exception to the provisions of Clause 1 of Article 52 of the aforementioned Income Tax Law, returns must be deducted on loans and advances obtained by legal persons in excess of twice the average property rights and not exceeding four times that for the period starting from 2022 and ending at the end of the tax year 2028 in accordance with for the following:
4:1 for the 2023 tax year
3:1 for tax year 2024 through tax year 2027
2:1 for the 2028 tax year
Article No. 6
Exemption from the tax stipulated in Article 56 of the aforementioned Income Tax Law continues to be imposed on the proceeds of loans or credit facilities obtained by public sector companies, the public business sector and the private sector, provided that interest on those loans is paid before the date of entry into force of the provisions of this law.
Article No. 7
In applying the provisions of Article 46 bis 4 of the aforementioned Income Tax Law, the acquisition cost is included in determining the acquisition cost on the basis of which the tax on capital gains of realized securities is calculated. The effective date of this law.
Article No. 8
Article 11 of the aforementioned income tax law shall be repealed from the first of January following the date of entry into force of the provisions of this law.
Articles 140, 141, 142, 143, 144, 145 and 146 of the aforementioned Income Tax Law are repealed.
Article No. 9
The second paragraph of Article 1 of Law No. 182 of 2020 is canceled by canceling the exemption established on the returns of treasury bills and bonds or capital gains resulting from dealing in these bills and bonds from income tax.
Article No. 10
The amendment contained in Article 8 of the aforementioned Income Tax Law applies to income from salaries and the like as of the month following the date of enforcement of the provisions of this law, and in relation to financiers of commercial activity, or revenues of non-commercial professions and revenues of real estate wealth, as of the tax period that ends After the date of publication of this law in the Official Gazette.
The provisions of Article 13 / Clause 1 of the aforementioned Income Tax Law, replaced by Article 1 of this Law, shall come into force starting from the month following the date of implementation of the provisions of
this is the law .
The provisions of Article 72 bis of the income tax law referred to added to Article 2 of this law shall come into effect from the first of January following the date of entry into force of the provisions of this law.
Article 11
An amount shall be allocated from the delay fee or the additional tax stipulated in the tax laws applied by the Authority, to be determined and regulated by a decision of the Minister of Finance not exceeding 10% of what is paid from the delay fee or the additional tax, as the case may be, to be distributed to the guides and those who assisted them in discovering the case of evasion Or controlling it, or completing the procedures related to it, or providing information of importance in controlling the case of evasion by non-employees of the Authority, and it becomes due when the taxpayer pays the payable tax.
Article 12
This law shall be published in the Official Gazette, and shall come into effect from the day following the date of its publication.
This law shall be stamped with the seal of the state, and enforced as one of its laws .
It was issued by the Presidency of the Republic on the 26th of Dhul Qi’dah 1444 AH
Corresponding to June 15, 2023.