Published: 2020-02-18 16:31
Last Updated: 2020-02-18 16:31
The Cabinet underlined the need to take necessary measures to activate the application of the provisional attachment clauses in both the Income Tax Law and the General Tax on Sales (a VAT tax) Law.
In a session chaired by Prime Minister Omar Razzaz today, the Cabinet particularly called for the full application of Article 40/B of the 2019 Income Tax Law and Article 56 of the General Tax on Sales Law, which stipulate that provisional attachment shall apply to assets no more than double the value of non-cash claims.
As for cash claims, the attachment should be equally limited to the same value of the claim.