Heba Press – Economy
Nadia Fattah Al-Alawi, Minister of Economy and Finance, presented the outline of the new finance bill, which included a set of points that Heba Press will cover in detail in subsequent articles.
Among the points included in the new finance bill, notably the part relating to taxes, is the determination of the total real estate income on which the tax is imposed, because tenants of apartments and real estate who earn money significantly through rental income Apartments, including buyers of applications like the Airbnb platform, will be required to pay the taxes they owe to the state.
It is specified in this section that taxable persons whose real estate income is subject to the seizure at source mentioned in article 160 recalled below may choose to impose the tax according to the excise rate provided for in article 73, based on the total amount taxable amount.
Tax on real estate income planned.
In this case, a request must be submitted electronically to the Tax Administration in exchange for a receipt, according to a form established for this purpose, and the taxable persons concerned must submit a copy of the aforementioned receipt to the persons responsible for withholding the tax. tax. at the source provided for in article 160, before the payment due date. Rent for the month following that of submission of the selection request at least 30 days.
This option will take effect from the month following that of delivery of a copy of the aforementioned receipt to the persons responsible for withholding tax.
In order to finalize the decision to impose the tax according to the above-mentioned excise rate, the taxable persons concerned must submit a request electronically to the Tax Administration in exchange for a receipt, using a form established for this purpose. They must also issue a. copy of this receipt to the persons responsible for withholding tax before the due date for payment of rent for the month following that of submission of the above-mentioned request is at least 15 days.
