Corporate - Taxes on corporate income

Last reviewed - 03 December 2023

For any Libyan registered entity, income arising both in Libya and abroad (i.e. worldwide) is assessable for corporate income tax (CIT) purposes in Libya.

CIT is imposed annually on the same basis for Libyan controlled corporate entities, foreign controlled corporate entities, and branches of foreign companies.

CIT is levied on taxable profits at a flat rate of 20%.

Jehad Tax

There is a flat rate of Jehad Tax assessed at 4% on taxable corporate profits.

Local income taxes

Libya has no provincial income tax laws.