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Decision to raise the Valued Added Tax rate to 16%

2013-06-02

The decision to raise the value added tax rate by 1% to reach 16% started to be effective from June 01, 2013.
The VAT rate was amended twice since 9 months. The first was an increase from 14.5% to 15%, while the second was last week.  
By this, the Palestinian government is committed to the maximum limit allowed to the VAT’s difference portion between Israel and the Palestinian Territories according to Paris Protocol.
Based on this decision; 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 0.8205% to 0.8272%
.
The table below illustrates the changes on trading commissions since last September for the benefit of all parties taking into consideration its subjection to VAT by law:

 

Item

 

Base Rate

 

VAT (14.50%)

 

VAT (15%)

 

VAT (16%)

 

Change

 

Brokerage Company  (Valued Added Taxed)

 

0.0047

 

0.0053815

 

0.005405

 

0.005452

 

0.87%

 

Palestine Securities Exchange  (Valued Added Taxed)

 

0.002

 

0.00229

 

0.0023

 

0.00232

 

0.87%

 

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

 

0.0005

 

0.0005

 

0.0005

 

0.0005

 

0.00%

 

Total

 

0.0072

 

0.0081715

 

0.008205

 

0.008272

 

0.82%

 

Total %

 

0.7200%

 

0.81715%

 

0.82050%

 

0.82720%

 

0.82%

 

 


 

2020-05-21
Idleness in trading prior to Eid Al-Fitr holiday

2020-05-21
PIBC approves distributing 4% cash dividends for the year 2019

2020-05-20
APIC proposes distributing 6.74% cash dividends and 6.74% stocks dividends for the year 2019

2020-05-20
UCI posts net income of $0.15 million in Q1 2020

2020-05-19
MIC posts net income of $0.56 million in Q1 2020

2020-05-19
TIC posts net income of $0.83 million in Q1 2020

2020-05-18
SANAD realizes net loss of $0.55 million in Q1 2020

2020-05-18
WASSEL posts net income of $0.03 million in Q1 2020

2020-05-18
TNB posts net income of $7.80 million in Q1 2020

2020-05-18
ELECTRODE realizes net loss of JD0.004 million in Q1 2020

2020-05-18
GUI posts net income of $0.77 million in Q1 2020

2020-05-18
AQARIYA posts net income of $0.08 million in Q1 2020

2020-05-18
JCC posts net income of JD0.09 million in Q1 2020

2020-05-18
OOREDOO posts net income of $1.28 million in Q1 2020

2020-05-18
TRUST posts net income of $1.18 million in Q1 2020

2020-05-17
NCI records net income of $0.09 million in Q1 2020

2020-05-17
PID realizes net loss of JD0.52 million in Q1 2020

2020-05-17
PRICO realizes net loss of JD0.29 million in Q1 2020

2020-05-17
RSR posts net income of JD0.07 million in Q1 2020

2020-05-17
NIC reports net income of $1.18 million in Q1 2020

2020-05-17
PADICO realizes net loss of $0.52 million in Q1 2020

2020-05-17
JPH posts net income of $1.22 million in Q1 2020

2020-05-17
ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

2020-05-14
Scarce trading and a momentum in the substantial news

2020-05-13
BPC reports net income of $0.99 million in Q1 2020

2020-05-13
VOIC posts net income of JD0.33 million in Q1 2020

2020-05-13
AZIZA posts net income of JD0.99 million in Q1 2020

2020-05-13
LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

2020-05-10
AIB posts net income of $2.00 million in Q1 2020

2020-05-10
GMC posts net income of JD0.19 million in Q1 2020

2020-05-10
ABRAJ posts net income of $0.08 million in Q1 2020

2020-05-07
Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

2020-05-05
NAPCO realizes net loss of JD0.29 million in Q1 2020

2020-05-05
APIC posts $5.12 million net income in Q1 2020

 

 

 
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