Ageela Saleh, Speaker of Libya’s eastern based parliament, the House of Representatives (HoR), passed a decree today (86/204) reducing the surcharge/levy on the official sale of foreign currency by banks from 20 to 15 percent. The decree, effective today, says that the tax can be reduced further if state revenues permit it – based on a request to do so from the CBL. Controversial FX sales taxIt will be recalled that this controversial FX sales tax caused much political angst back in March of this year when it was decreed by HoR Speaker Saleh – based on a request by the then CBL Governor Saddek El-Kaber in February. Saleh was accused of decreeing it unilaterally without the approval of the rest of the HoR. By October, the HoR in agreement with the High State Council and through UNSMIL mediation, abandoned the ousted El-Kaber and chose Naji Issa as the new Governor.

Source: Libya Today November 20, 2024 13:27 UTC