People’s Assembly approves bills on income tax fines and on bank loans

Damascus, SANA – The People’s Assembly on Sunday approved a bill on bank loans which aims to facilitate procuring loan payments due to banks from debtors, and a bill on exempting taxpayers from fines and interests for overdue true income tax.

Justice Minister Najm Hamad al-Ahmad said the bill on bank loans seeks to procure the state’s financial dues from debtors who did not repay loans by making loans subject to article 273 of the litigations law, ensuring that lawsuits involved in this process will not take a long time to be resolved.

Assembly members said that this bill will help limit debtors’ evasion regarding the payment of dues, and that it should have retroactive effect to include those who took loans then left the country.

Finance Minister Ismael Ismael said the bill on tax fines will allow taxpayers to pay their taxes for 2012 and earlier without having to pay any extra fines, and that a similar bill for other taxes is being prepared.

On a relevant note, the Budget Committee at the Assembly discussed the proposed budget of the Labor Minister for 2015 which is set at SYP 247.2 million.
Budget Committee

The Committee members called for revitalizing the work of the General Establishment for Employment and creating a database of job opportunities at state establishment, noting that the 2015 general state budget accounts for providing over 94,000 job opportunities.

During this meeting, Labor Minister Khalaf al-Abdullah said the Ministry is working to develop the work of the General Establishment for Employment as well as focusing on developing projects, stressing the need for one side to become responsible for job examinations for state establishments in order to overcome red tape.

Hazem Sabbagh

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