Cabinet approves bills on selling of real estate, exempting industrial equipment from fees
The Cabinet approved in its weekly session chaired by Prime Minister Imad Khamis on Tuesday the forming of a work team to study the situation of vehicles that have non-regulation license plates and to issue clear instructions to resolve of the status of those cars.
The Cabinet called on the Ministry of Internal Trade and Consumer Protection to regulate the visits of consumer protection observers to the shops and markets, in addition to tasking ministries with forming work groups to study the situation of leased governmental real estate and reevaluate the rents currently being taken.
In order to achieve fiscal equity among taxpayers, the Cabinet approved a bill on the selling of real estate in which the tax on real estate sales will be based on the prevailing market value rather than the value adopted in the financial records.
The Cabinet also approved a bill on exempting imported machines and equipment for the benefit of licensed industrial facilities from customs duties and other charges arising from the importation, in addition to charging the Ministry of Petroleum and Mineral Resources with ratifying contracts for the extraction of mineral resources with private and joint sectors.
The Cabinet adopted a bill on adjusting the fines for those who exceeded the time limit for the residency of Arabs and foreigners, and approved a letter submitted by the Ministry of Agriculture and Agrarian Reform on the estimated budget for 2017 and the plan of the agricultural production support fund.