There Will Be No New Taxes

The government's work program does not include the imposition of any new taxes, including value-added taxes, selective taxes, income taxes, or any other taxes related to the labor and income of individuals, reports Al-Rai daily. In their explanation, they explained that the new program does not add any taxes beyond what companies are already paying.

Tax rates collected from companies will increase during the next fiscal year, with a 155 million increase in the percentage of proceeds for the current fiscal year. According to the sources, the government seeks to enhance citizens' welfare without burdening them with undue burdens, especially in view of the high levels of inflation in the local and global markets, which is expected to continue to rise in the near future.

 

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