Tax authority and private sector agree on 5 points for sales tax implementation

The tax authority and businessmen have agreed on six provisions for the implementation of the sales  tax law.
 
Businessmen confirmed in a statement issued Thursday their agreement on the sales tax law’s implementation.
 
They demanded that the tax authority should facilitate an agreeable mechanism for tax collection.

The merchants demanded that the authority release seized goods at the ports following the agreement so as to strengthen the relationship between the private sector and the concerned government institutions.
 
Both sides agreed  to form a joint committee for the Tax Authority, the Capital Secretariat’s Chamber of commerce and the General Union of Chambers of Commerce and Industry in an effort to resolve any disputes between the Authority and tax payers in a way that is satisfactory to both parties,  as well as the treatment and facilitation of the issue of the merchants’ stored goods since 2005.
 
The third provision stipulates dealing with the stored, sluggish goods   and goods returned after sale, while the fourth provision concerns the expired goods and returned goods for which the merchant has paid taxes.
 
The fifth item on the agreement concerns the disclosure and the facilitation of procedures through reducing pressure on importers by providing statements every three months after the import instead of every 21 days.
 
It was agreed that the payment of charges to the bank should be every 45 days by 50%, on the condition that the remaining amount should be paid  through an obligatory statement by the businessman in three months to avoid conflicts with the merchants and the tax collectors.

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