Misrata Chamber of Commerce held a meeting at its headquarters yesterday to discuss the proposed tax bill recently submitted to the House of Representatives ( HoR – parliament).
The meeting was headed by Misrata Chamber Chairman, Fathi Al-Amin Al-Turki, along with the Vice Chairman, a member of the Board of Directors, and members of the Supreme Economic Advisory Committee of the Ministry of Economy and Trade, representing the Ministry.
The meeting was attended by a select group of economic experts and several businesspeople affiliated with the Chamber.
The meeting addressed the provisions of the bill, its potential repercussions and negative impacts on commercial and industrial activities, the mechanism for distributing LCs and its limitation to specific companies, and the necessity of equality and fairness among all companies within Libya.
The private sector should be consulted prior to enactment of legislation
Attendees emphasized the importance of consulting with the private sector before enacting any tax legislation to ensure economic balance.
Follow-up committee formed
It was agreed to form a follow-up committee to prepare memoranda, communicate with relevant authorities, find swift solutions, and reconsider such decisions.
