Accounting Rules

Tax Year: The fiscal year begins on January 1st and ends on December 31 of the same year.
Accounting Standards: Syria is a member of the IASB (International Accounting Standards Board).
Accounting Regulation Bodies: The Syrian Ministry of Economy provides information on the Syrian Certified Accountants Association.
Accounting Reports: The accounting structure comprises of audit report, Profit and Loss, balance sheet, income statement and cash flow statement.
For additional information you can consult the EStandards Forum website.
Publication Requirements: Financial statement must be filled annually.
Professional Accountancy Bodies: SYRECON , Syrian Certified Accountants Association.
Certification and Auditing: According to the law No. 20 of 1991 and the income tax law No. 24 of 2003, all the persons that are subject to pay taxes on their net earnings are required to proceed to a revision of their accounts and to obtain a certification of their fiscal declaration by a legal accountant.
You can contact an external auditor: Deloitte, Damascus; KPMG Mejjani, Damascus.
Accounting News: Syrian Arab news agency
Syria report
Information portal on Syria

Tax Rates

Consumption Taxes

Nature of the Tax: None as such but should be introduced soon.
Tax Rate: Not as such. Should be introduced soon at a rate of 10%.
Reduced Tax Rate: Basic food items are exempt from VAT.
Other Consumption Taxes: There isa tax on luxury products which varies between 1,5 et 40%.

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Corporate Taxes

Company Tax: Progressive rate between 10 and 28% on net profits.
Tax Rate For Foreign Companies: Residents and non-residents companies are charged similarly.
Capital Gains Taxation: Companies' capital gains are included in their taxable income and are taxed at the normal rate between 10 and 28%.
Main Allowable Deductions and Tax Credit: Special rates are applied for joint stock companies (22%), insurance companies (25%), companies whose capital is mostly public and for private banks (14%).
Other Corporate Taxes: Social security (overall of 17,1%), stamp duty (0,4 to 0,7%), real property tax (from 14 to 60%).

Individual Taxes

Tax Rate

Individual income tax	Progressive tax rate from 0% to 22%
From SYP 0 to 6,110	0%
From SYP 6,110 to 144,000	5%
From SYP 144,001 to 192,000	7%
From SYP 190,001 to 240,000	9%
From SYP 240,001 to 288,000	11%
From SYP 288,001 to 360,000	12%
From SYP 360,001 to 600,000	16%
From SYP 600,001 to 900,000	19%
More than SYP 900,001	22%

Allowable Deductions and Tax Credit: Syria has established the decree 33/2009 in May 2009 in order to limit the income tax rate to a maximum of 22%.
Special Expatriate Tax Regime: Non-residents are subject to the same tax regime as residents. There are bilateral non-double taxation agreements between Syria and different countries.

Double Taxation Treaties

Countries With Whom a Double Taxation Treaty Have Been Signed: See the list of the conventions signed
Withholding Taxes: Dividends: 0%; Interest: 7.5%; Royalties: 5%

Sources of Fiscal Information

Tax Authorities: Syrian Ministry of Finance
Other Domestic Resources: IPR Country Guide on Syria

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Intellectual Property

National Organizations: Syria's legal system recognizes and facilitates the transfer of property rights, including the rights of intellectual property (law approved in February 2001 and it includes computer programs, books, films, and other creative works). Syria is one of the member countries of the Paris Convention, of the World Intellectual Property Organization since May 2004 and has established the Syrian Association for the intellectual property in 2005. A previous registration of intellectual property rights is required in order to follow up any infringement. Patents are valid for a 15 year period (renewable) under the condition that the invention must be used for two years.
As far as copyright is concerned, most of the books published in Syria are written in the Arabic language and are written by Syrian authors. There is a legal vacuum in this field and the country's authorities seldom punish possible counterfeiting. There are counterfeiters who record CDs, videos, etc. Video cassettes are 100% copied but there are few repercussions on the economy as such. However, it is advised that the persons victimized by this kind of phenomenon should avoid legal pursuit of the authors of fraud, since the cost of legal action is often higher than the possible compensation delivered in a legal suit. As for trademarks, they are registered for a period of 10 years and the first applicant is the proprietor of the trademark. A new law was established in March 2007 in order to regulate registered trademarks, industrial models and logos.
International Membership: Member of the WIPO (World Intellectual Property Organization)
Signatory to the Paris Convention For the Protection of Intellectual Property

National Regulation and International Agreements

Type of property and law	Validity	International Agreements Signed
Patent Law n°47 of 1946, amended by legislative decree n°28 of 1980.	15 years (renewable).	Patent Cooperation Treaty (PCT)
Trademark Legislative decree n°28 of 1980.	10 years.	Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks
Design The Implementing Regulation of Trademarks, Geographical Indications and Industrial Drawings and Designs Protection Law	Indefinite.
Copyright		Berne convention For the Protection of Literary and Artistic Works WIPO Copyright Treaty
Industrial Models Law /8/ 2007 on Trademarks, Geographical Signs and Industrial Drawings & Models	5 years.

Legal Framework

Independence of Justice: The judiciary is controlled by the ruling party.
Equal Treatment of Nationals and Foreigners: Foreign nationals cannot expect an impartial trial from the country’s judicial system.
The Language of Justice: Arabic is the judicial language used in the country and the laws are only drawn up in Classic Arabic.
Recourse to an Interpreter: Having an interpreter is possible.
Sources of the Law and Legal Similarities: The main source of law in Syria is the constitution of 1973. The country’s legal system is based on a combination of the French and the Ottoman civil laws. Religious law is used for all that concerns family rights. Syria has not accepted the mandatory ICJ jurisdiction.
Checking National Laws Online: Opennet
Syriaonline

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Standards

National Standards Organizations: SASMO, Syrian Arab Standards and Metrology Organization
Integration in the International Standards Network: Syria is a member of the International Organization for Standardization (ISO), of the International Organization of Legal Metrology (OIML), of the International Electrotechnical Commission (IEC), of the Food and Agriculture Organization of the United Nations (FAO) and of the CODEX Alimentarius Commission.
Classification of Standards: There is an organization which is in charge of drawing up standards (450 of them). Current standards are close to French standards and to those of the United Nations Organization. The ISO 9000 standards correspond to Syrian standards: 1147, 1148, 1149, 1150, 1151 and to a large number of instructions in relation to quality.
Online Consultation of Standards: Syrian Standards on line.
Certification Organizations: SASMO Syrian Arab Standards and Metrology Organization

Business Practices

General Information: Infoexport, Foreign Affairs and International Trade Canada
Opening Hours and Days: Government: 8 am to 3 pm.

Private sector: 9 am to 2 pm and 6 pm to 9 pm. During Ramadan opening hours for the private sector are from 9 am to 3 pm.

Friday and Saturday are the official closing days.

Public Holidays

New Year's Day	January 1st
Prophet's Birthday	February - March
Good Friday	March - April
Easter Monday	March - April
Labor day	May 1st
Revolution of May 8th	May 8
Independence's Day	May
Army Day	June
Islamic New Year	Variable
Christmas Day	December 25
Aïd el Adha	Variable
Al Maulid anabaoui	Variable

Periods When Companies Usually Close

During the lunar month of Ramadan, office opening hours are: 9 am to 2 pm. Many restaurants are closed during the day.

Variable

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Syria: Business Environment