The Central Bank of Libya (CBL) briefed Libyan media yesterday of its intention to implement the decision of the Speaker of the House of Representatives (Ageela Saleh) to abolish the tax / surcharge imposed on official foreign exchange sales, including the foreign exchange personal use allowance to an exchange rate of 6.37 dinars to the dollar.
The CBL said the exemption will include all purposes, including foreign exchange allowances for personal purposes, study abroad and medical treatment abroad.
The dollar will be sold at the same rate to individuals and businesses
The CBL confirmed that individuals will be treated on a par with businesses and that citizens will not be made to bear any tax on personal items, stressing that “the goods imported to the merchants will not be allowed to be exempt from the tax while the citizen bears them,” adding that the citizen is the first to be exempted.
Taking advantage of increased world crude oil prices
The CBL said it will accelerate approvals for the import of priority goods and objects, while taking advantage of the improvement in public revenues considering the rise in world crude oil prices.
New tools for personal purposes FX sales to be introduced in April
The bank also explained that starting in April, new tools will be introduced for the sale of foreign exchange for personal purposes, in addition to the card recharge service, and these tools may constitute an additional alternative that will help citizens take full advantage of their foreign exchange allowances.
