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Tripoli, 21 April:
Financial consultants Deloitte Middle East report that because of the practical problems companies operating in Libya have had in meeting . . .[restrict]tax deadlines during the current transitional period, the Director General of the Tax Department announced on 26th March 2012 that the tax filing deadline for the 2010 and 2011 calendar years has been extended to 31 December, 2012.
The announcement also confirmed there should be no delay penalties for failure to make timely tax instalment payments of corporate tax payments for these periods as well as for failure to make payroll tax related payments for the 2012 calendar year.
Additionally, there should be no delay penalties for failure to declare stamp duties payments for the period after 1 January 2011 (stamp duty filings should be made by 31 December, 2012).
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