Complying with the tax system of the country is one of the most enduringly difficult components of contracting in Syria. You must pay duty on all of your income while you are in the country, regardless of whether you are a contractor or a permanent employee. Understanding the rules underlying this can be difficult, but you might still be required to pay some duty in your home country in addition to paying levies here. Do you pay two taxes in Syria? Your nationality and the specifics of your assignment will determine how it plays out. You can determine the best approach to set up your affairs by becoming familiar with the fundamentals of Syrian income taxation and becoming aware of your possibilities.
you in Syria, pay your taxes, and finally, send you a net salary. This payment will cover your income tax, public health insurance, social security, and other deductions. Although this is the simplest approach to managing your income taxes over there, contractors could not be given this option due to their brief employment with each business.
Syria’s tax laws
The tax rates that are applicable in Syria are as follows:
Taxes on consumption
Consumption taxes are levied at rates ranging from 1.5% to 40% on a selection of imported luxury products and services.
Corporation taxes
Social Security (the employer is required to contribute a total of 17.1% of payroll: 14% for retirement, disability, and death benefits, and 3% for the program for work-related injuries) and 0.1% to a lump-sum disability benefits fund), the real estate tax (from 14 to 60%), and stamp duty (0.3 to 0.7%). Upon the registration of real estate, its sale, assignment, or inheritance, a 10% property registration fee is due.
A tax of SYP 250,000+0.1% of the publicly issued capital is levied on first public offers and subsequent capital expansions (capped at SYP 1 million). Upon the creation and registration of a corporation, a stamp fee equal to 0.4% of the capital is also required to be paid (this price is lowered by 50% if the firm provides more than 50% of its shares to the public).
Calculating your income tax in Syria
Anyone in that country who is unable to pay their duty through PAYE has the option of filing a tax return and handling everything themselves. How well-versed are you in levies law? Does your country have a tax pact with Syria? You must learn this information or locate a helpful person. Not only does this take up your free time, but it’s also really challenging to maximize the system. If you’re new to it, you can be working from outdated research and wind up paying too much because the rules change regularly. Syria’s income tax rates range from 5 to 15%.
Using an umbrella company in Syria for income tax
You can have the flexibility of a contractor while also having an employer during your stay in Syria thanks to an umbrella firm. The only distinction is that you submit your timesheets to them, who will then figure out your duty and pay them when you earn money, giving you a net wage (as well as documentation for your records). The businesses are specialists in Syria taxation, and they’ll make sure you keep the majority of your revenue while abiding by local regulations. Any problems with the Syrian tax office or tax department can be resolved by them, including processing your tax refund if you are qualified. The Syrian government is primarily dependent on income from oil sales, foreign donations, remittances sent home by Syrians working abroad, tourism, and duty collections. Tax receipts made up 16.4% of the GDP in 1997. In the same year, taxes on goods and services contributed 20.72 percent of total current government revenue, compared to income taxes, which contributed 30.15 percent, and taxes on international commerce, which contributed 10.58 percent. Profits from commercial, industrial, or nonprofit activities, wages, and income from mobile capital assets are the three basic types of income that are subject to income taxes.
Profit tax
Based on net earnings from professional, industrial, commercial, and non-commercial operations, all firms are subject to a “profits tax”. Depending on the amount of taxable income, the business profit tax is levied at progressive rates (between 10 percent and 45 percent). The duty rate for industrial limited liability firms and shareholding corporations is a flat 32 percent and 42 percent, respectively. On his business revenue, income from moveable capital, and real estate, an individual is responsible for paying the same taxes as an organization. Additionally, there is a pay and salary tax that applies to people, the rate ranges from 5% to 12.5%. Interest, royalties, and dividends from overseas sources are all subject to the moveable capital income duty, which is assessed at a fixed rate of 7.5 percent.
