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President sends three Bills to Parliament
03-12-2008

 

The President has sent three bills to the People’s Majlis. The three bills are Bill on People’s Majlis Elections, Bill on Business Profit Tax and Bill on Administration of Taxation.

The objectives of the Bill on People’s Majlis Elections include the establishment of a democratic framework that ensures that the parliamentary elections are free and fair through the participation of the maximum number of voters. This Bill was drafted by the Elections Commission after discussion with relevant parties.

The Bill on Business Profit Tax will introduce a framework for taxing on business profit. The objectives of the Bill include widening avenues for more revenue generation as well as introducing a better tax system in the country. The bill provides for direct taxation on business profit.

The Bill on Administration of Taxation specifies administrative regulations for taxing on business profit

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