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Posted On: 29 October 2020 07:06 pm
Updated On: 12 November 2020 02:22 pm

Proposal to determine value of bank guarantee for tax warehouses approved: Weekly Cabinet Meeting

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His Excellency (H.E.) Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz Al-Thani chaired Wednesday the Cabinet's regular meeting held at its seat at the Amiri Diwan.

Following the meeting, H.E. Minister of Justice and Acting Minister of State for Cabinet Affairs Dr. Issa bin Saad Al Jafali Al Nuaimi said the following statement:

At the outset of the meeting, the cabinet was briefed by H.E. Minister of Public Health on the latest developments in the efforts to contain the spread of the coronavirus (COVID-19). The cabinet stressed on the importance of precautionary measures in combatting the pandemic.

Then, the cabinet considered the topics on the agenda as follows:

  1. The approval of the Ministry of Finance's proposal on determining the value of the bank guarantee for tax warehouses, based on the provisions of Law No. 25 of 2018 regarding selective tax and its executive regulations. This regulation defined the tax warehouse as the place where the licensee is allowed to produce, transfer, possess, store, or receive excise goods imported or produced in the state under a tax suspension arrangement.
  2. The cabinet reviewed the recommendations of the Shura Council on a draft law regulating the press, publications, publishing, media activities and the arts, and the views of the Ministry of Culture and Sports, and took the appropriate decision in their regard.
  3. The cabinet reviewed the report of the complaints committee of Qatar Financial Markets Authority for the period from 1 January to 30 June 2020, and took the appropriate decision in this regard.

This committee, established in the Qatar Financial Markets Authority, chaired by one of the presidents of the Court of Appeals, including the membership of two judges of the Court of Appeals and two experts in the securities transactions, to decide on complaints against some of the decisions issued by the Authority.

Source: QNA