Today, Tuesday, the Central Bank of Libya issued a circular to the general directors of commercial banks regarding the start of implementation of the decision of the Speaker of the House of Representatives, Aguila Saleh, to impose a 27% tax on the sale of foreign exchange.
In its circular, the Central Bank called on commercial banks to facilitate procedures for dealing in foreign exchange, including opening documentary credits for all purposes and all goods and services.
The bank’s circular noted that the customer must submit a declaration pledging his agreement to accept the price plus the prescribed tax.
In a related context, the Central Bank of Libya announced the opening of the foreign currency reservation system, starting tomorrow, Wednesday, at 11:00 am, through its official website.
Speaker of the House of Representatives, Aguila Saleh, issued Resolution No. 15 of 2024 imposing a fee on the official exchange rate of foreign currencies of 27% for all purposes, with the possibility of reducing the price during the period of validity of the decision from the date of its issuance until the end of the current year 2024.
The decision stipulates that the revenue generated from the tax fee will be used to cover the expenses of development projects if the need arises, or be added to the resources allocated to the Central Bank of Libya to pay the public debt in accordance with House of Representatives Resolution No. 30 of 2023.
The Speaker of the House of Representatives assigned the Governor of the Central Bank, Al-Siddiq Al-Kabir, to implement the decision and provide foreign currency in all banks in the country.
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2024-04-06 22:20:14