Speaker says HoR has executive authorities in response to dollar-tax entanglement

The Speaker of the House of Representatives (HoR) Aqila Saleh has said that the HoR possesses both legislative and executive authorities, thus indicating that the resolution to impose a 27% tax on the foreign currency exchange transactions – based on the proposal of the Governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabir, was within the HoR’s powers.

Speaking to Ashraq Al-Awsat newspaper, Saleh said that the circumstances sometimes required quick measures in order to achieve the public interest, adding that the issue of the tax would be presented to the HoR for approval after ensuring that it was in the interest of Libyans and the national economy.

On March 15, the Speaker of the House of Representatives, Aqila Saleh, issued a decision, based on the Central Bank Governor’s proposal, to impose a 27% tax on the official exchange rate of foreign currencies for all purposes until the end of the year 2024.

The Central Bank of Libya directed the commercial banks to implement the decision, while Dbeibah confirmed that he did not accept the tax, warning of the “negative effects” on Libyans.


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