Libya V.A.T. and Other Taxes

Libya Property Tax

New Libya Stamp Duty - Law No 8 of 2010

Any contract negotiated in Libya for anything other than direct supply is subject to Revenue Duty (registration tax).
This amounts to 1% registration duty on the value of the contract.
Any portion of a main contract that is sub-contracted is subject to a further 1 per thousand on the registration of the sub-contract.

A contact or sub-contract is required to be registered within 60 days of its signature.
Any delay results in a penalty of 2% per month of the tax and will not be exceeding 50%.
Invoices issued against a contact must be stamped by the tax department to confirm that registration duty has been paid.