Damascus, Oct. 02 (SANA)-

President Bashar al-Assad issued several Legislative Decrees on  amending previous laws of taxes in Syria.

The Decree No. 51 for 2006 calls for modifying the taxes on international hotels and restaurants of excellent, first and second class, as well as services of nightclubs as classified by the Ministry of Tourism, offices of financial and economic studies and investors of entertainment cities and circus shows.

The Decree calls on owners of such facilities to report to the financial competent offices in written about their net profits whether in case of loss or win over the previous year.  The tax on profits will be levied according to fixed rates as mentioned in the articles of this Decree. The new amendments will take effect as of January 1st 2007.

The other Legislative Decrees were on taxes on selling of real estates, while poultry facilities were exempted from taxes on profits for 2005.

Ahmad F. ZAHRA