Parliament Decides to Amend Income Tax Law

Parliament Speaker Hanafi Jabali decided to amend some provisions of the Income Tax Law, and resend it to the Plan and Budget Committee.

This came during the plenary session on Tuesday, in the presence of the Minister of Finance Mohamed Maait, as the majority rejected the draft law after a discussion in principle.

The law aims in light of the pandemic and its impact and repercussions on the level of the international and national economy, to reduce the impact of these economic repercussions and its financial burdens on citizens.

On the other hand, the constitution obligated the state to adopt modern systems that achieve efficiency, ease and accuracy in the collection of taxes, so the proposed draft law consists of one article, which aims to collect the tax according to the segments indicated in the draft law, provided that this applies exceptionally to the actions that was signed before May 2013.

The article included a provision that the lump-sum imposed by it would be obtained even if there were several actions, in addition to the fact that the proposed draft law would encourage citizens to pay the real estate tax in preparation for completing the remaining steps of registering it in the real estate registry, which positively affects the total real estate wealth in the country and the state’s plans regarding it.