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REPORT: Article 41 returns to budget draft law after being crossed out

Nada Andraos Aziz

Author: Nada Andraos Aziz

Breaking Headlines

18-10-2017 | 14:11

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REPORT: Article 41 returns to budget draft law after being crossed out

Article 41 of the Budget Draft Law of 2017, stipulates that the Customs Department shall collect 1% of the value of each importation as a trustee at the expense of the income tax, provided that it is included in the importer's tax account and shall be deducted from the annual tax payable on its profits.

Said article has raised debate at the cabinet session discussing the budget and was rejected by the economic bodies, which had led it being crossed out.

However, article 41 returned today to the budget draft law, as ministers noted that Finance Minister Ali Hassan Khalil re-included it.

Finance Minister denied in a statement to LBCI that the cabinet had removed the article, stressing that it will discussed during the parliament sessions.

For more details, watch the full report in the video above

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