Trade Ministry negotiates FX variance during tax collection with Finance Ministry
The Ministry of Trade and Industry is negotiating with the Ministry of Finance to ease the currently-allowed 7% variance from the official Central Bank (CBE) exchange rate for tax collection. The currently-allowed variance may not be tenable in the current circumstances, especially amidst a large exchange rate gap between the official and the parallel markets, Minister of Trade and Industry Tarek Qabil said. (Al Mal)
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