President al-Assad Issues Law Exempting Taxpayers from Overdue Interests, Fines, Penalties

President Bashar al-Assad on Tuesday issued a law for 2011 on exempting taxpayers of real profits income tax and its additions from the overdue interests, unpaid fines and late payment penalties for the years 2010 and before if they pay the tax or the fees imposed in the aforementioned years before December, 31st, 2011.

Minister of Finance Mohammad al-Jililati said the law comes in light of completing the tax reform process in order to ease the financial burdens on the citizens who didn’t pay or delay their financial commitments.