Taxation in Libya: Country to Exempt Private Sector From Tax

Taxation in Libya: Country to Exempt Private Sector From Tax
Taxation in Libya: Country to Exempt Private Sector From Tax
  • Although in a parallel rule, the Libyan government is making strides in the country’s tax administration
  • The Government has also announced the Seizure Tax from Eastern Region

Taxation in Libya is about the get more interesting with a recent announcement from the Ministry of Labour and Rehabilitation of the Government of National Unity. This narrative is reached as the ministry in a recent announcement informed the public of the need to exempt the private sector from paying taxes.

The proposed exception according to the minister in charge of the Ministry, Ali Al-Abed will now include taxes on the contracts of its workers which will render all facilities to the sector, enabling it to absorb job seekers.

Responding to allegations that the Ministry has not performed excellently with proving employment for job seekers, the minister regarded the report as inaccurate in his recent public statement, stating that the job seekers system coordinated by his ministry registered about 280,000 young people qualified to work during the past years.

Taxation in Libya: Recent Developments

The Libyan parallel government of Prime Minister Ali al-Qatrani has announced a recent transfer of 19 million dinars in customs fees and taxes from the accounts of the Customs Authority in the eastern region in June and July to the accounts of the Command of Haftar’s militia.

Recent updates also have it that the total revenues collected by the tax administrations in the eastern region amounted to more than 220 million dinars, noting that the tax departments of the cities of Benghazi, Tobruk, Sirte, al-Qubba and Derna transferred more than 131 million dinars of tax revenues on behalf of the parallel government.

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