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Decision to raise the Valued Added Tax rate to 15.5%

2012-09-02

Based on the decision of the Palestinian Finance Ministry / Department of VAT to raise the VAT Rate by 1% to 15.5% instead of 14.5% to be effective starting from September 2012, the new amended rate has been updated among brokerage firms with its impact on the total commission on trading in Palestine Stock Exchange by applicable law. Thus, the percentage of the commission payable on any sale or purchase has increased by 0.82% from 0.81715% to 0.82385%.

The table below illustrates the changes on trading commissions for the benefit of all parties taking into consideration its subjection to VAT by law:

 

Item

Old VAT (14.50%)

New VAT (15.50%)

Change %

Brokerage Company  (Valued Added Taxed)

0.0053815

0.0054285

0.87%

Palestine Securities Exchange  (Valued Added Taxed)

0.0022900

0.0023100

0.87%

Palestine Capital Market Authority PCMA ( Exempted from Valued Added Tax)

0.0005000

0.0005000

0.00%

Total

0.0081715

0.0082385

0.82%

Total %

0.81715%

0.82385%

0.82%

 


 

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