Economy Ministry to collect 30 billion LYD during 2019 from taxes on hard currency

Economy Ministry to collect 30 billion LYD during 2019 from taxes on hard currency

April 27, 2019 - 12:53
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Written By: SafaAlharathy

Minister of Economy, Ali Al-Issawi said Government of National Accord (GNA) plans to collect 30 billion dinars by the end of 2019 from the fees levied on the purchasing of hard currency, which amount to 183%.

Al-Issawi told Reuters that around 17 billion dinars have been collected since September 2018 and that the issuance of the letters of credit is processing smoothly without any delay, pointing out that the extra fees charged on currency trading helped the government to avoid a deficit in the 2019 budget.

He also noted that the value of the fees charged will be reviewed from time to time, to reduce or increase them, in coordination with the Central Bank of Libya (CBL) and the Ministry of Finance.