Thinking Beyond Borders

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1 INTERNATIONAL EXECUTIVE SERVICES Thinking Beyond Borders Syria kpmg.com

2 Syria Introduction No personal tax declarations are required to be filed in Syria. Residents and nonresidents are generally taxed on income arising from sources or activities in Syria. All taxes due will be withheld and remitted by the Syrian resident employer. The tax is calculated variously based on the kind of tax which the income is subject to (tax on net profit for sole proprietors, salaries tax, or withholding tax, etc.). Contact Mohammed Mejanni KPMG in Syria International Contact Partner T: +967 (1) / 8 / 9 E: Key messages In general, all employees working in Syria for a period exceeding 183 days in any 12-month period are subject to tax, whether work is done for a Syrian or non-syrian company, unless the income is exempted.

3 Income tax Liability for income tax An individual is liable to pay tax on income arising from sources or activities in Syria regardless of his/her residence status. Tax trigger points Business travelers income is subject to tax in Syria under the following circumstances: the individual travels to Syria from a country with which Syria has no effective double taxation treaty the recipient is present in Syria for a period of more than 183 days during any 12-month period the remuneration is paid by, or on behalf of, an employer who is a resident of Syria the remuneration is borne by a permanent establishment (PE) or a fixed base which the employer has in Syria. Types of taxable income For business travelers, the types of income that are generally taxed are salary tax, withholding tax, and tax on movable capital. Tax rates Salaries tax Taxpayers are entitled to be exempted from the monthly tax calculation on income of 10,000 Syria pounds (SYP) (equivalent to approximately 140 US dollars (USD)). The tax rate ranges from 5 to 22 percent with the highest bracket applying to salaries exceeding SYP75,000 (approximately USD1,070). Withholding tax Withholding tax should be deducted at source and remitted to the tax authority on payments made to nonresidents. This tax is levied in lieu of both income tax and tax on salaries and wages. The withholding tax rates vary according to the nature and scope of the contract, with rates ranging from 1 to 10 percent of the amount paid. A withholding tax declaration, along with the withheld tax amount, must be remitted to the Finance Directorate on a monthly basis. Tax on movable capital Movable capital income (interest) is subject to a fixed rate of 7.5 percent. However, 80 percent of deposits into savings accounts may be exempted from tax on movable capital under certain conditions. Social security Liability for social security Social security contributions are levied at 7 percent of the basic salary, to be withheld from employees salaries, with an additional 17.1 percent of the basic salary to be paid by the employer. Compliance obligations Employee compliance obligations It is the employer s responsibility to file both social security contributions and salary tax deducted from their employees salaries. Employer reporting and withholding requirements Social security It is the employer s responsibility to declare and pay both the employees and the employer s contributions to the General Organisation for Social Insurance within one month, following the end of each month. Salaries tax It is the employer s responsibility to file a semi-annual salary tax declaration to the Finance Directorate within 15 days following the end of each half-year period. Other issues Double taxation treaties Syria has double tax treaties with a significant number of countries to avoid double taxation and allow cooperation between Syria and other tax authorities in enforcing their respective tax laws. Permanent establishment implications A PE is a legal entity registered with the Ministry of Trade. Generally, there is no possibility that a PE could be created as a result of extended business travel. Indirect taxes Stamp duty Stamp duty is imposed on official documents, licenses and contracts. Consumption expenditure fee A consumption expenditure fee is imposed on the sale of certain services, as well as imported and locally manufactured goods. The fee varies widely in rates and implementation rules. This fee was expected to be replaced by a value-added tax (VAT) in However, this has not yet been done.

4 Transfer pricing No transfer pricing rules are in effect in Syria. Work permit/visa requirements Non-Syrian employees must obtain work permits by application to the Social Affairs and Labour Directorate. Local data privacy requirements Syria does not have any data privacy laws. Exchange control Syria allows the outflow of foreign currency only under certain rules and regulations, overseen by the Syrian Credit and Monetary Council (the Council). Foreign currency exchange and transfers are done through registered exchange companies, money transfer companies, and all licensed private and public banks. Additional restrictions were imposed in 2011 that restrict foreign currency transfers unless the economic purpose can be demonstrated (according to the Council s predefined criteria). Also, recently, use of credit cards in Syria has been suspended. Nondeductible costs for assignees There are no nondeductible costs for assignees in Syria.

5 kpmg.com/socialmedia The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International. Designed by Evalueserve. Publication name: Thinking Beyond Borders Syria Publication number: Publication date: November 2012

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