Chapter One
General Provisions

Article 83:
i- The tax on the current capitals revenues includes the profits and interests and revenues the exchange prizes ( in a lottery ), payment prizes and other monetary resources and resources in kind including the free distribution of shares, and all resulting form:
1. credit bills and the loans granted by the companies and all of the financial, industrial, commercial or civil establishments which headquarters are located or their main business is carried  out within the Syrian Arab Republic.
A list shall be prepared in the Syrian Arab Republic with the companies and establishments whose main business centers or investment centers or their main assets are located within the Syrian Arab Republic.
2. Shares and portions of the founders, the interests portions, limited partners and all credit bills and loans granted by the companies, establishments, societies not located in the Syrian Arab Republic, and they are pertaining to natural or legal entities resided in the Syrian Arab Republic.
3. The bills of profits and credit bills and other general bills issued by the Syrian Governments ( with regard to all persons ) and the foreign governments ( with regard to natural and legal entities residing within the Syrian Arab Republic ).
4. The liabilities documented with real estate guarantees and preferred debts and normal debts ( except all the commercial transactions which are not characterized by loan from a legal point of view ).
5. Deposits of all kinds whoever the depositor may be, and the party the deposit is allocated for, and all current accounts.
6. The guarantees and monetary bonds issued by legal entities.
7. The prizes of the lottery exceeding SP. 1 million.

ii- the tax shall become mandatory whether the values of amounts distributed are taken from profits or not.
iii- The revenue discussed in Paragraphs /4-5-6-/ falling under the total profits resulted from the taxable banking processes stipulated for in Section One of This Law, shall not be subject to the tax on the current capitals revenues.

Article 84:
The average of the tax on the current capitals revenues shall be defined by 7.5%  ( including the additions of the national defense, schools fees, municipalities portion, war effort contribution ) other than the addition of the local administration fees.

Chapter Two
The Syrian Current Money

Article 85:
The income to be considered as basis of assessment of the companies and establishments whose centers are located within the Syrian Arab Republic shall be defined as follows:
i- For credit bills and loans: equal to the interest amount or the income distributed yearly.
ii- For Prizes of exchange: equal to the amount of the prize.
iii- For paying up prizes : by the discrepancy between the paid sum and the defined offset of the bills when issued.

Article 86:
The credit bills offset and general bills and other loans bonds of which the settlement prize is subject to this tax, shall be considered as a basis for confirmed tax settlement on the prizes, if the issuance average is the same. If the issuance average has changed then the tax is assessed for every loan based on the average resulted from division of the total of the loan by the number of issued shares. Total of loans means the gross total after subtracting the returns of the period between date of issuance and date of each of the sales.

Article 87:
The companies and establishments and the administrations that are considered as legal entities can pay the imposed tax in installments, in accordance with this Law, and tax shall be  paid to the treasury under the following conditions ( they have the right to take up again on the beneficiaries ):
i- the tax is collected for the credit bills and loans and other values which income has been defined in advance over four equal installments based on the total income of these values annually.
ii- Tax is collected on the exchange prizes and payment prizes at once on the date of payment of the first installment which is due after the specific day of the exchange and prizes offset payment.
The taxpayer paying tax in installments shall present certified copy of the exchange verifications and a table showing  the following for every exchange:
1- number of paid off bonds.
2- The issuance average of these bonds to be calculated in accordance with the Provisions of Article No. 86.
3- The amount of exchanges and the due prizes of the winning bonds.
4- The sum to pay tax for.

Article 88:
The four installments stipulated for in the previous Article shall be paid within the first five days of the months: February, May, August and November of every year.

Article 89:
The industrial companies and establishment and others which are subject to the discussed tax, must reveal to the concerned Finance dept. staff, when necessary whether in their headquarters or branches offices, all the documents, records, accounting papers that help them verifying the correctness of application of the Provisions stated before, and to justify the basis used in calculating the executed payments.
As for the banks governed by the Provisions of the Law No. 29 dated 16.04.2001, it is sufficient to reveal to the staff the accounts, numbered deposits to check the tax deduction without stating the name of the accounts principals.

Article 90:
Any refusal to present the documents discussed in the previous Article shall be confirmed in a minutes to be prepared by the staff entrusted with auditing , and every breach shall be subject to a fine amounting at SP. 1000 to be increased in case of repetition to SP. 2000.
In case of incorrect declarations or statements or other documents presented or sent to the Finance Depts. the tax shall be tripled for the undisclosed sums.

Chapter Three
The Current Foreign Money

Article 91:
Banks and money-changers and others who, inside the Syrian Arab Republic, pay the profits from the returns or other resources shall take off the imposed tax on shares and wining bonds, loans and other bonds stipulated for in Paragraphs 2 & 3 of Article No. 83 of this Law,  to the account of the treasury.

Article 92:
He, who deals with the trade or the profession that may result in collecting, gathering paying and purchasing of stocks or bonds deserving collection of profits and interests, returns, prizes of exchanging ( drawing ) and payment, all resources of bonds stated in the previous Article, shall produce to the Finance Dept. a declaration of that, or he shall be subject to a fine amounting at SP. 1000. This breach shall be confirmed in a minutes to be prepared by the staff responsible for checking.

Article 93:
All persons that are subject to the Provisions of the previous Article are prohibited from collecting, receiving, paying, purchasing or trading in bonds or other stocks stated in the previous Article unless they deduct, at once, the tax or paying it in installments if the issuing conditions charge the issuer of the bonds with the tax  . If these persons prove that a previous broker had done that they shall not be requested to deduct the tax or to pay it in installments.

Article 94:
Every person of the those stated in Article No. 92 must present to the Finance dept. at every payment a list stating the following date:
a- name of payer, his commercial address and his profession and his capacity.
b- Kind of bonds or other stocks deposited for collection and number and the value of each in Syrian Pounds at the time of payment.
c- The gross total value in Syrian Pounds
d- The amount of the credited or paid tax.
e- The reference in the record stipulated for in Article No. 95 of this Law and the date and the attestation and signature of the payer.

Article 95:
 The persons stated in Article 92 of this Law should keep two numbered and signed ledgers, in which they state, day by day without any blank nor writing between lines, every payment , sale, purchase of bonds or other stocks subject to tax deduction or tax crediting. In these two ledgers all statements recorded in the list stipulated for in the previous Article should be recorded. The first ledger shall be assigned for payment for which a tax had been deducted or credited by the taxpayer directly. The other ledger shall be assigned for setting down the processes or transactions for which a tax had not been imposed since it was paid and deducted by the previous broker.

Article 96:
a- all records in the first ledger shall be copied and gathered on the last day every three months, and be attested and sent with the deducted or credited tax, and these copies are considered as tax supporting documents. The credited or the deducted tax is paid within the conditions stipulated for in Article No. 88.
b- The persons specified in Article No. 92 should produce all documents , tables, ledgers, records and accounting papers which may verify the correctness of the event.

Article 97:
Any breach of the Provisions of Articles 83 through 87 and every incorrect statement mentioned in the data presented or in the produced documents shall be subject to the fine  stipulated for in Article No. 88.

Article 98:
The holders of bonds and the other valuable foreign bonds and the persons, residing in Syria, who dispose of the revenues and instruct payment of the profits of these bonds and stocks and their interests and returns etc.. or collect such outside the Syrian lands  directly or through others, should produce to the Finance Depts. before January 15th of each year a declaration showing the total of these profits, interests, revenues and returns collected within the last year.
If such declaration is not presented or it is incorrect the tax shall be tripled in relation to the undisclosed sums.