The Tax Committee experts have met to discuss lobbying processes involving the Chamber, including discussions on the Guidelines of the Income Tax Law, the draft property law, and issues arising from taxation, etc.
The working group diligently examined the implementation of recommendations pertaining to the Income Tax Law’s implementing regulations. Committee members stressed the importance of clarity, particularly through guidelines on how individuals receiving cash payments for transactions spread over multiple periods should be taxed. To address this matter effectively, it was recommended that these comments be forwarded to the Ministry of Finance.
Committee members also brought into focus the lobbying process concerning the draft property law and the comments submitted to the Ministry of Finance regarding this legislative proposal. The Chamber has been closely monitoring the progression of this process and will remain actively engaged with relevant bodies to ensure that its input is considered in the final draft of the law.
The Committee meeting served as a platform for setting an agenda for future meetings throughout the year. Of notable significance is an upcoming meeting with the Local Government to discuss issues related to business taxation levels and the necessary adjustments ahead of the Municipal Council’s decision on local taxes for the year 2024.
