Sanaa Government approves bills to amend income, sales, customs taxes laws
SANAA, May 29 (YPA) – The Sanaa government approved on Monday bills submitted by Deputy Prime Minister for Economic Affairs and Minister of Finance, Dr. Rashid Abu Lahoum, to amend the sales tax law No. 19 of 2001, the income tax law No. 17 of 2010, and the customs law No. 14 of 1990, as well as their revisions.
The government referred these bills to Parliament for debate and the completion of the required constitutional procedures to issue the amendments.
The draft laws aim to protect and encourage the local product through proper fiscal and customs regulations, as well as to minimize local capital migration.
The amendments also aim to increase investments and direct them to areas of national priority, improve self-sufficiency indicators, and make customs procedures easier and simpler for investors.