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House approves VAT law amendments
The Planning and Budget Committee in the House of Representatives approved the new amendments to the Value Added Tax law during a meeting attended by Finance Minister Ahmed Kangouck. The amendments included a rephrasing of the article related to tax exemptions, ensuring that the sale and leasing of land and residential and agricultural real estate continue to be exempt from tax, with the exception of buildings used as administrative headquarters for various activities, whether commercial or non-commercial. Additionally, offices designated for religious, charitable, social, educational, and health activities were also exempted from tax, aiming to strike a balance between expanding exemptions and implementing more effective oversight over administrative and economic institutions.
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