The House of Representatives, in its session today, chaired by Speaker Yahya Ali Al-Rai, listened to the explanatory memorandum submitted by the government for a draft law amending some provisions of Law No. 17 of 2010 regarding income taxes and its amendments, and a draft law amending some provisions of Law No. 19 of 2001 regarding general sales tax and its modifications.

The memorandum, which was reviewed by the Deputy Prime Minister for Economic Affairs and Minister of Finance, Dr. Rashid Abu Lahoum, before the members of the Council, included the goals and justifications for these amendments, pointing to the importance of attracting and encouraging local and foreign investments within the framework of the state’s general policy and the national priorities required by the exceptional phase the country is going through to face the repercussions of the aggression and the blockade in the field of economic and social development in order to achieve self-sufficiency in the necessary local products.

The explanatory note referred to the proposed amendments and the implications of those amendments.

In the session attended by the Minister of State for Parliament and Shura Council Affairs, Dr. Ali Abu Haliqa, the Council listened from the Minister of Finance to the explanatory memorandum submitted by the government regarding the draft amendment to the Customs Law No. 14 of 1990, to complete the necessary procedures in this regard.

After the Council held an initial discussion on the draft amendments to those laws, it approved referring them, along with their explanatory notes, to the Constitutional, Legal, and Financial Committees for study and submission of a report thereon to the Council.

The Council had started its session by reviewing its previous minutes, approved it, and will continue to hold its business sessions tomorrow, Sunday, God willing.

Source: Yemen News Agency