Libya - Islamic law (Sharia)
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Libya taxes

Want to setup a company? This will tell you about tax laws in Libya, reading this will help you becoming knowlegeable on the specific tax laws and rates for a Private Limited Company which is the most common company type in Libya.

Libya has income tax levied earned outside the borders separately then it it was derived locally. Thepredominant estimated rate for offshore tax, from our research, and this is not personal tax advice, is 0%. LY does not have known exemptions to transfer in income earned abroad made internationally. Taxes are reasonable in Libya as the highest corporation tax rateis 20%. This ranks Libya as 63rd overall with regards to CIT globally. . .

The VAT rate in LY is 0.00%, that ranks Libya as 63rd overall with regards to value added tax rate worldwide. In terms of other taxation, an employer will contribute 3,098.00% to the equivalent of a social security fund and an employee will contribute %. The overall complexity of the tax system is high. This is measured by average time to comply with a country's labor tax requirements is as it is 210hours. Contributing to this is the number of yearly labor tax payments, which is 10 in LY.

Thin cap mandates are not in effect. Thin capitalisation refers to any type of restrictions on given company with respect todebt-to-asset ratios. Dividends are a distribution of a portion of an earnings of the business, passed by by the board of directors, to a particular class of shareholders.Dividends can be either stock, cash, or property. The capital gains taxation rate in LYis 0%. A capital gains tax is levied on the profits that a corporation or natural person realizes when they sell sells a capital asset for a price that is higher than the purchase price.

The interest witholding rate is estimated at 0%-25%This should be interpreted usually that the tax authorities expects legal entities to automatically withhold 0%-25% of payments offshore for on interest payments. The dividends witholding rate is 0This means that the relevant tax authorities expects legal entities to automatically withhold 0 of money remitted abroad for dividend payments. The royalties witholding rate 0 This means that the taxman expects to withold 0 of payments offshore for for royalty payments.
There is no known tax on wealth in Libya. There are no known inheritance taxes in LY. There are no popular and well known research and development breaks on taxation here.

The above is not tax or legal advice for your particular personal tax obligations. can to reference you to an expert in Libya who can get you the proper advice and help you need. Want to work together? Click incorporate now if you are in a hurry, or press the free consultation button above.

It takes approximately 679 hours to file and prepare documents for a Libya Islamic law (Sharia).
The corporate tax is approximately 20% which is 70 in the world.

Owners of a company in Libya are not allowed to carry back a loss and may be allowed to carry forward a loss for 5 years.

The vat rate in Libya is 0% which ranks 1 in the world.

Patent box
RND credit
Wealth tax
Estate tax
Transfer taxes
Asset taxes
Capital duties
14Tax treaties
20%Offshore Tax
20%Corp rate
-Loss carryback years
679Corporate time
0%VAT rate
10%Capital gains
NoAEOI planned
Sorry we cannot help you in Libya.

Libya Tax Treaties

CountryTypeDate signed
United Kingdom
DTC 2008-08-17
DTC 1990-07-23
DTC 1990-07-23
DTC 2005-12-22
DTC 2009-04-08
DTC 2010-09-16
DTC 1975-01-09
DTC 2009-02-20
United Arab Emirates
DTC 2013-04-01
DTC 2009-06-10
DTC 1981-03-02
DTC 2008-12-28
DTC 2008-11-04
DTC 1990-07-23

Country Info

National Flag of
الدولة ليبيا (ara)
Area Code
Northern Africa
Native Languages