2024-03-29 13:02:53
The committee assigned pursuant to House of Representatives Resolution No. 3 of 2024 AD to study the extent of the impact of imposing a fee on the foreign exchange rate of 27% on the citizen’s income held a meeting in the presence of the Committee Chairman, Second Deputy Speaker of the House of Representatives, Mesbah Douma, and the committee member, Chairman of the Council’s Economy, Trade and Investment Committee, Badr Al-Naheeb, Committee member and Chairman of the Council’s Oversight Bodies Follow-up Committee, Zayed Hadiya.
According to what Council spokesman Abdullah Belhaq said, the meeting held at the headquarters of the House of Representatives in the city of Benghazi discussed the impact of imposing a fee on the foreign exchange rate of 27% since its introduction on the Libyan market.
The meeting also discussed the opinions of specialists in the field of economics and finance in this regard, and the committee determined its work mechanism and program.
Earlier this month, the Central Bank of Libya issued a circular to the general directors of commercial banks regarding the start of implementation of the decision of Speaker of the House of Representatives, Aguila Saleh, to impose a 27% tax on the sale of foreign exchange.
In its circular, the Central Bank called on commercial banks to facilitate procedures for dealing in foreign exchange, including opening documentary credits for all purposes and all goods and services.
The bank’s circular noted that the customer must submit a declaration pledging his agreement to accept the price plus the prescribed tax.
Speaker of the House of Representatives, Aguila Saleh, had issued Resolution No. 15 of 2024 imposing a fee on the official exchange rate of foreign currencies of 27% for all purposes, with the possibility of reducing the price during the period of validity of the decision from the date of its issuance until the end of the current year 2024.
The decision stipulates that the revenue generated from the tax fee will be used to cover the expenses of development projects if the need arises, or be added to the resources allocated to the Central Bank of Libya to pay the public debt in accordance with House of Representatives Resolution No. 30 of 2023.
The Speaker of the House of Representatives assigned the Governor of the Central Bank, Al-Siddiq Al-Kabir, to implement the decision and provide foreign currency in all banks in the country.
Last updated: March 29, 2024 – 01:07
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2024-03-29 13:02:53