Regulatory Alerts2014-01-01
Circular No. 68: Decree-Law No. 4 of 2014
The Palestine Monetary Authority and the Ministry of Finance’s Directorate General of Income Tax issued Circular No. 68/2014 and related directives to enforce Decree-Law No. 4 of 2014, which amends the Palestinian Income Tax Law. The amended law mandates a 10% withholding tax on cash profit distributions and interest from small business programs, applying to income accrued from January 1, 2014, with operational implementation commencing in 2015. Licensed financial institutions and companies are directed to deduct this tax at source prior to distributing any dividends or cash allocations.
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