Minister Dedeyan hails exemption of industrial exports from taxes
Posted by Zawya
The Daily Star
22 June 2010
BEIRUT: Industry Minister Apraham Dedeyan on Monday welcomed the Cabinet’s decision to agree in its last session on June 18 to his request to exempt all industrial and agricultural exports from taxes on profit and income, adding that this proposal would also be part of 2011 draft budget.
He said the request was one of the main conditions of industrialists for many years, adding that the president, prime ministers and all Cabinet members supported this suggestion.
The minister said the move would help bolster the national economy by giving the industrial sector a bigger role.
Dedeyan added that it had not been possible to introduce the proposals into the current budget because the Finance Ministry needed more time to implement certain mechanisms and procedures.
Dedeyan assured that exempting industrial exports from income tax does not contradict the conditions of the World Trade Organization.
“This exemption from taxes is good news for industrialists who now should expand their business and open new markets abroad,” the minister said. –The Daily Star
© Copyright The Daily Star 2010.
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