Ministers Approved Draft Bill Allowing The Govnt To Conduct Public Loans And Financing From

The ministers approved a draft bill, one allowing the government to conduct public loans and financing from the local and the international markets, with the aim of issuing the tools of public after October 2017, the time set by the present law. Another draft bill was also approved on amending Article 29 of Law 32 of 1967 regarding the army.

Also today, the Cabinet gave the thumbs up to draft bills approving the GCC Unified Selective Excise Tax, the GCC unified Value Added Tax (VAT) and the statute of the GCC Economic Judiciary Commission.

The ministers consented draft bills approving a legal and judicial agreement regarding the civil, commercial, personal status and penal articles with Egypt, and protocols for amending two accords to avoid tax evasion and double taxation on income with India and Brunei.

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The Cabinet also approved a draft bill on a MoU on security cooperation with Iraq. All the draft bills approved today have been referred to His Highness the Amir, to find their way later to the National Assembly. The ministers approved a draft decree on two protocols for amending Articles 50 A and 56 of the Convention on International Civil Aviation signed in October 2016.

They also approved other draft decrees on a host of cooperation MoUs and agreements with some world countries. These include a MoU for cooperation in Islamic affairs with Turkey; an agreement for technical and cultural cooperation with Malta; two MoUs on countering financing of terrorism, and cooperation in higher education and scientific research with Brunei; an economic and technical cooperation agreement with Slovakia; a MoU for cooperation in water management with Hungary; an economic and technical cooperation agreement with Albania’s government; and finally an agreement on air services with Belize. All the draft bills have been referred to His Highness the Amir, to be later sent to the National Assembly. Concluding the weekly routine meeting, the Cabinet reviewed the political developments on the Arab and international scenes.

SOURCE : ARABTIMES

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