An amendment to the Special Contribution for Defense (SCD) law was published in the Official Gazettte of the Republic on 9 June 2023.
The amendment relates to the deadline for payment of SCD on rental income, in cases this is withheld at source. The tax should be paid in two instalments, by 30 June and 31 December, in relation to the respective semesters of the year.
A penalty of 5% on the tax due is imposed where this is not paid on time. Interest is also imposed at the public interest rate, which currently stands at 2.25%, based on completed months that the liability remains outstanding.