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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Integrity calls for a review of customs and tax exemptions in investment laws

    rocky
    rocky
    rocky
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    Posts : 240996
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    • Post n°1

    Integrity calls for a review of customs and tax exemptions in investment laws Empty Integrity calls for a review of customs and tax exemptions in investment laws

    Post by rocky Sat Jan 28, 2023 9:40 am

    [size=45][size=41]Integrity calls for a review of customs and tax exemptions in investment laws[/size]
     18 minutes ago
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    The Federal Integrity Commission called for a review of investment laws that granted customs and tax exemptions for several years. Exploitation of this by some merchants to import exempt materials and divert them to the local markets.
    The Department of Prevention in the Authority proposed, in its report, according to a statement that “Taqdum” received a copy of, about the visits made by its field team to the Ministry of Industry and Minerals / General Directorate of Industrial Development and the two general authorities for customs and taxes in the Ministry of Finance and the Border Crossings Authority, to see the mechanism for granting customs exemptions to laboratories Blacksmithing and carpentry, she suggested reducing exemptions and limiting them to the government sector, while granting specific exemptions to the private sector for the introduction of production lines and semi-manufactured raw materials, noting that there are many exemptions laws that reach (10) years for investors, industrialists, and importers, which amounted to the years (2019-2021). Respectively (16%, 12%, and 20%), the state treasury was deprived of large sums of money.
    The department, in its report, a copy of which was sent to the Prime Minister's Office, the General Secretariat of the Council of Ministers, and the Ministries of Industry and Minerals and Finance, recommended the formation of committees in the Ministry of Industry; To audit the Gammar output books according to which the exemption was granted for projects and to check the proven materials, their quantities and types, after the inaccuracy of the on-site checks made by the committees of the General Directorate of Industrial Development was monitored, in addition to their weak follow-up of the industrial projects that were granted establishment licenses, in addition to the weakness of the specialized technical role the nature of the project activity.
    She indicated the necessity of activating electronic governance and expanding the electronic platform between (the General Directorate of Industrial Development, customs authorities, ports, taxes, and notary departments); In order to enable it to tighten the process of entering the imported materials subject to the exemption, without the presence of violations, while studying the possibility of not releasing the exemptions, except after making sure that the entry of the imported materials involved in the production process is made.
    The department stressed the need for the relevant authorities to follow up on the imported materials covered by the exemption from their exit from the ports until their arrival at their sites and to monitor their use in production and follow up on their leakage to the local markets, pointing out that there is manipulation in granting exemptions for licenses under incorporation to some factories and fictitious companies in exaggerated quantities exceeding The actual need for ceramics, alabaster, reinforcing shutters and wood.
    The department stressed the necessity of conducting a feasibility study for each project that grants a foundation permit, to be prepared by an engineering office licensed by the Ministry of Planning and approved by the Ministry of Construction and Housing, noting that most of the problems of permits granted by the General Directorate of Industrial Development are represented by the inaccuracy of the site statements on which the decisions of the committees depend. detection.
    The report concluded that the Industrial Investment Law is very generous in granting customs and tax exemptions, calling for its review and reduction of exemptions, indicating the weak role of follow-up by the Directorate for all under- and fully-established projects and factories, and the ineffective role of the customs police in delivering imported materials with customs exemptions to their locations.
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