Head of the customs authority Galal Abul Fetouh has issued a statement for the formulation of a committee to prepare the new customs law.  He said the current law is currently inadequate in the forthc...

Head of the customs authority Galal Abul Fetouh has issued a statement for the formulation of a committee to prepare the new customs law.  He said the current law is currently inadequate in the forthcoming stage where the Ministry of Finance is hoping to upgrade outlets to international levels and allow customs to become an encouraging investment tool. Mr. Alaraby said that while the current law encourages voluntary commitment, it does not give sufficient confidence building among taxpayers and the tax authority nor does it allow the authority to evolve in line with current advancements.  The new law will take into account the current rules  in addition to recommendations voiced through workshops. (source: Al-Aalam El youm)