Libya

Corporate - Withholding taxes

Last reviewed - 09 July 2020

Libyan law has no withholding taxes (WHTs). Generally, for unregistered foreign entities seeking to register a contract with the tax authorities, CIT will be assessed (and must be settled) on a deemed profit basis at the time of registration. It may be possible to negotiate a WHT in preference to the aforementioned general procedure for a significant contract where there is greater uncertainty as to the estimated contract value.