The First Deputy Speaker of the House of Representatives (HoR), Fawzi Al-Nuwairi, announced his rejection of the decision to impose a tax on the official exchange rate, describing the decision as invalid in terms of its foundation and issuance, and unjust in its aims and results, saying he was not involved in its dangerous consequences and disastrous results. About 30 HoR members announced their rejection of the decision to impose a tax on the official exchange rate, and demanded its withdrawal. The members added in their statement that in no case can a tax be imposed except by a law issued by the HoR in full quorum. On Thursday, the HoR Speaker issued a decision to impose a tax on the official exchange rate of foreign currencies by 27% for all purposes. The CBL Governor proposed on March 05, through a letter addressed to the House of Representatives, to impose a tax on the official exchange rate by 27%, with the exception of sectors funded from the public treasury.

Source: Libya Observer March 16, 2024 18:19 UTC