Cabinet approves increase of tax on interest rate on deposits from 7% to 10%

Minister of Information Jamal al-Jarrah said on Friday that the Cabinet approved the increase of tax on interest rate on deposits from 7 to 10 pct for 3 years and to increase the retirement age in the military.

Al-Jarrah’s comments were made following the Cabinet session whereby he noted that discussions are currently being held about how public authorities can contribute to reducing the deficit.

As for measure No.3, the minister said that this measure will only implement it when facing the Israeli enemy.



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