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Royal Decree amends Income Tax Law

14 Sep 2020 By ONA

His Majesty Sultan Haitham bin Tarik issued Royal Decree No 118/2020 amending some provisions of the Income Tax Law on Monday.

Article 1 states that the amendments attached in this decree will be introduced to the above-mentioned Income Tax Law.

Article 2 states that the phrase ‘Minister of Finance’, wherever it occurs in Royal Decree No 28/2009, will be replaced with the phrase ‘Chairman of the Tax Authority’.

Article 3 cancels all that contravenes this decree and the attached amendments or contradicts with their provisions.

Article 4 says that this decree will be published in the Official Gazette and enforced with effect from the day following its date of publication, except Article (140) of the above-mentioned Income Tax Law, which will be enforced with effect from the tax year starting on January 1, 2021, or its succeeding tax years.

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