The Kabul times, Afghanistan Trustable News Agency.
EconomicNational

Private sector to receive more supporting, Deputy PM Hanafi

Since the Islamic Emirate (IEA) takeover in mid-August 2021, it has been working to promote and support the country’s private sector. The Islamic Emirate has provided further facilities to the private sector so that they can invest and work in the country. In its new step towards promoting and supporting the country’s private sector, the country’s ministry of finance has announced offering financial concession in various areas to somehow promote and support the private sector in the country. This Monday, the Ministry of Finance by offering financial concession in various areas to the country’s private sector said that the decision was taken in light of the direction of the head of the Islamic Emirate Mullah Hebatullah Akhundzada. In a statement released by the ministry of finance said that Deputy Prime Minister Mawlavi Abdul Salam Hanafi met the officials of various relevant ministries. They approved the proposals presented by a delegation for financial concessions for the growth and support of the private sector. As per the directions of the IEA Supreme Leader Shaikh Hebtullah Akhundzada, the existing four percent quarterly income tax of the industrial sector had been reduced to two percent. Similarly, the seven percent financial contract tax was waived off for agriculture, industrial and trade sectors. Four percent of quarterly income tax was waived off for private universities, seminaries and schools for the year 1402. According to the country’s finance ministry, all those agencies which are auditable according to financial principles – except banks, telecommunication and technology, security, air services, state enterprises and companies – had been given the authority to submit 0.5 percent of their collection sales into the account of the Emirate. The taxes of all the petroleum and gas stations of the former government had been waved off. These filling stations would now submit 0.6 percent income tax into the account of the Islamic Emirate for more years. The statement further says the concerned agencies have been asked to provide passport-issuing facilities for traders and industrialists in every zone like the capital Kabul. The ministries of foreign affairs, trade and industry had been directed to share the matter of visa issuance of traders and industrialists with all the embassies of the concerned countries. It is worth mentioning that the private sector increasingly plays an important role as an engine of economic growth and job creation. It provides goods and services, generates tax revenues to finance essential social and economic infrastructure, and develops new and innovative solutions that help tackle development challenges. As the country’s private sector plays key role in the country’s economic growth, the Islamic Emirate is committed to supporting the private sector in the country. The recent announcement is a good example of the IEA’s commitment to supporting the private sector. Samiullah Momand

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The Kabul times, Afghanistan Trustable News Agency.