jeudi 12 dcembre 2019 00:56:49

The Finance and budget Committee held a meeting this Sunday, to hear Finance Minister Mohammed Lokal, who introduced an organic bill amending the Finance laws, where he revealed that organic law 18-15 of 2018 was aimed at amending and abrogating the provisions of article 18 of the Financial Law.

Act No. 84-17 of 1984 concerning the amended and completed financial laws made it possible to legislate in the field of tax through provisions other than the financial laws, in particular the fuel law.

He said before the Finance Committee that this possibility was canceled by organic law No. 18-15 of 2018 concerning the financial laws, adding that this was done in article 18, which stipulates that the financial laws provide only for provisions concerning the guard, attribution and damages of collection of disputes of any nature, as well as in the field of tax exemption, in order to enable the hydrocarbon  bill to give a total of 57 articles.

The Minister of Finance explained that it was imperative to resort to the amendment of article 18, enabling the fuel sector to legislate in the tax area by special means outside the Finance Act.

The members of the Committee have begun to raise their concerns regarding the organic bill, with the majority of them having been abreast of the annual amendments to the laws as well as the inability of the financial sector to develop a future plan on which to build legislation.

The discussion included an urgent call to consider the necessity of finding new financial resources to revive the public treasury, and some of the representatives' interventions included a suggestion to consider the possibility of granting Sonatrach the right of the negotiation with foreign companies.

He also called on members of the committee to adopt a clear-cut law policy, and some stressed the need to be cautious about emptying the finance law from its content, while others called for more attention to take new measures to face tax evasion.


 

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