The General Commission for Taxes “GCT” issued new instructions regarding clearance/non-objection letters, which stipulate that “companies shall not be provided with such letters to enter tenders unless they submit their financial statements for the last fiscal year or a statement of income’s sources for the until submitting the financial statements.”
For companies that submitted the financial statements within the legal period but did not complete the tax calculations, the calculations will be completed in accordance with the law and their tax deposits will be reversed to avoid its accumulation.