Regulatory Alerts2012-01-01
Circular No. 15: Tax on Deposit Interest
The Palestine Monetary Authority issued Circular No. 15/2012 to mandate all banks operating in Palestine to notify customers of any tax deductions applied to their deposit interest income. This directive operationalizes Legislative Decree No. 8 of 2011 concerning Income Tax and fulfills regulatory transparency and disclosure obligations. Banks must proactively inform depositors of all interest-related withholdings to ensure full compliance and enhance public awareness.
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