QR codeQR code

Islamic Emirate Announcing a major tax reduction in commercial sectors

7 Aug 2024 - 10:58

In a move to boost economic growth and support jobs, the Ministry of Finance announced significant tax cuts on hotels, restaurants and gas stations.


Afghan Voice Agency (AVA) - Monitoring: The Deputy Prime Minister for Administrative Affairs, Mawlawi Abdul Salam Hanafi, stated that the Islamic Emirate is committed to facilitating and cooperating with businesses and investors in the country. The reduction in taxes for hotels, restaurants, and gas and oil stations is a clear demonstration of this commitment.

Mawlawi Hanafi noted that last year, in support of the educational and academic sector, the profit tax for educational institutions was waived for one year.

He added that the profit tax rate for the health sector was reduced from 4% to 3%, with newly established health centers being exempt from profit tax for one year and subject to 2% in the second year and 3% thereafter.

Meanwhile, Mawlawi Abdul Qahar Idrees, the Revenue and Customs Deputy Minister, announced that under a new decree from the esteemed Supreme Leader, owners of all hotels and restaurants will now be required to pay a 2% profit tax.
Previously, hotels with annual sales up to 750,000 Afghanis paid 2% tax, while those with higher sales were taxed at 5%.

Mawlawi Idrees also highlighted that, according to the new decree, a fixed tax of 0.3 Afghanis per liter will be applied to gas and oil stations, down from the previous rate of 0.6 Afghanis per liter.

Representatives from associations of hotels, restaurants, and gas and oil stations welcomed the decision, stating that it will significantly alleviate their challenges and encourage further investment in the country.


Story Code: 294893

News Link :
https://www.avapress.net/en/news/294893/islamic-emirate-announcing-a-major-tax-reduction-in-commercial-sectors

AVA
  https://www.avapress.net