decision #322/1

The Ministry of Finance (MoF) has issued on the 15th May 2023 the decision #322/1 (attached a scanned copy) in application of the article 87 of the Budget Law 2022 (Law #10) related to the tax on income generated from foreign movable assets based on the articles 81 and 82 of the Income Tax Law.


According to the article 87 of the Budget Law 2022, the 10% tax on the income generated from foreign movable assets should be paid in the same currency (USD, EUR or other currencies converted to USD) starting from the 15 November 2022 [i.e. starting from the year 2022). Each currency should be declared separately (i.e. all income in USD are declared together while the income in EUR are declared in another declaration and the income in other currencies such as GBP or CHF should be converted to USD and also declared separately. These tax declarations should be done electronically according to the new forms established on the website of the Ministry of Finance and the related tax paid in the same currency in cash or transferred to the “external fresh accounts” of the Ministry of Finance opened at the Central Bank with the accounts numbers by currency specified in the attached MoF decision.


The deadline for submitting the declaration on the income from foreign movable assets of the year 2022 and paying the related tax (in Fresh currency) has been postponed till 31 May 2023 (inclusive). However, the new tax declaration form (ث4/ج) is not yet available on the Ministry of Finance’s website to enable the taxpayers to submit their tax declarations.

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