Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Finance Minister Ali Hasan Khalil Monday insisted that the new salary hike for public employees be approved and denied that any of the new tax hikes would target the poor or low-income families.Khalil blasted circulating reports about new taxes as "lies".The minister reiterated earlier remarks by several politicians who said Cabinet didn't impose any new taxes to finance the salary scale bill.Members of civil society groups tried to attend Khalil's news conference but were denied entry into the Finance Ministry.Khalil said that tax increases on banks and financial institutions from 15 percent to 17 percent would not impact the poor in any way.Among the proposed taxes, Khalil said, was the increase of the levy on deposit interest from 5 to 7 percent.Khalil said that banks offered to pay $1 billion to the Finance Ministry in return for removing taxes on lenders' profits and removing the increase in tax on deposit interest.Among the proposed taxes, Khalil said, was an increase in the stamp fees on bills from LL100 to LL250 which secure an additional LL45 billion for the government.
FOLLOW THIS ARTICLE