Government and private sector agree on tax sales’ mechanism [Archives:2007/1046/Local News]

SANA'A, April 28 ) The government of Yemen and private sector last week reached an agreement on activating tax sales according to a new mechanism that satisfies both sides and complies with the commercial conditions for the private sector.

Chairman of Taxes Authority Ahmed Ghaleb said the mechanism, which will be effective until 2008, takes into consideration the state's rights in taxes by 5 percent according to the Customs mechanism. The mechanism will also work on decisions made by ministry of traded on taxes according to the law, he added.

Both government and private sectors have agreed on forming a joint committee to follow up implementing the new mechanism and find solutions to tariff, commercial cheating, and customs' fraud. They also agreed to form another committee to set a national strategy to combat smuggling of goods. Also, the two sides agreed to review investment and trade laws as well as ways to eliminate investment obstacles.

“The agreement took into consideration eliminating all worries and reservations of the businessmen and traders and enabling Taxes Department to collect the state's public revenues in a transparent way