Taxation of Personnel fund units occurs only at the time of withdrawal. Of the withdrawn amount, 20 % is tax-free income and 80 % is taxable income.
Automatic tax rate update: Allshares receives your withholding tax rate directly from the Tax Administration. This information is automatically updated in the portal before the withdrawal notification period opens. Before the information is updated, or if the information is not available from the Tax Administration, the tax rate is 60 %.
How to change your tax rate: If you wish to use a tax rate specifically applied for the personnel fund unit, or for any other reason change the additional tax rate received from the Tax Administration, please proceed as follows:
Update the new tax rate under 'My details' during the withdrawal notification period.
Submitting a 0 % tax card: If you have applied for a 0 % tax card from the Tax Administration specifically for the taxation of the personnel fund unit, upload it to the portal as follows:
Navigate to: Documents > File upload > Upload new file.
After this, we will process the tax card for payment.
Note: Modifying the tax rate and submitting a 0 % tax card is only possible during the withdrawal notification period.