The virtual meeting with Ministry of Finance “Pre-consultation on withholding tax (WHT) reform” was held on Friday, September 4.
The Ministry of Finance (MF) announced during the meeting that the amendments to the withholding tax (WHT) regulations would take effect on 01.01.2021. MF will make the draft amendments available for consultation in the coming weeks. During the meeting, MF encouraged consultants and businesses to submit comments on and proposals in relation to the draft.
In addition, MF declared that the 2019 WHT draft guidelines would be continued after it is modified in line with the amendments which are to come into effect as from 01.01.2021. The draft guidelines will be prepared in the first half of 2021 and will also be subject to consultation.
Here you can find the list of our suggestions regarding withholding tax regulations which was addressed to MF:
Suggestions_regarding_withholding_tax_regulations.pdf
We remain at your disposal if you would like to discuss these changes or should you have any questions.
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