The Islamic Emirate of Afghanistan has issued an announcement declaring a reduction in the value added tax for the industrial sector, lowering it from 4% to 2%.

Additionally, the emirate granted a 7% exemption on withholding tax for the agriculture, commerce, and industrial sectors.

Ahmad Jan Bilal, a representative from the Islamic Emirate leader's office, shared this information during a press event at the Finance Ministry in Kabul. He further mentioned that the sales tax for private schools, religious seminaries, and universities has been waived for the year 1402 (in the Islamic calendar).

These decisions were made in accordance with the decree of the Islamic Emirate's leader, with the aim of supporting commerce and industry within the country, the official said.

The press event was attended by Mullah Abdul Salam Hanafi, the second deputy of the Prime Minister. Hanafi emphasized the importance of supporting the industrial, agricultural, and commercial sectors. He highlighted that the 7% withholding tax has been waived for these sectors, and the value added tax has been reduced from 4% to 2% to specifically support the industrial sector.

The Ministry of Economy (MoE) expressed that the Islamic Emirate is supportive of investors and will prioritize domestic companies in mining activities. Din Mohammad Hanif, the acting Minister of Economy, explained that while foreign companies are welcome, the Islamic Emirate cannot force their participation and it is essential to rely on domestic traders and companies.

Additionally, Nooruddin Azizi, the Minister of Industry and Commerce (MoIC), urged Afghan traders living abroad to return to the country and invest. He emphasized the significance of domestic investment and encouraged those who consider themselves Afghan and Muslim to contribute to the development of Afghanistan.

Mohammad Younus Momand, the acting head of the Afghanistan Chamber of Commerce and Investment (ACCI), highlighted the need for improvement in commerce, industry, agriculture, and transit within the country. He emphasized that Afghanistan holds a central position in the region.

Furthermore, Hanafi pledged that the Islamic Emirate will provide necessary facilities for traders and industrial owners concerning passports and visas. (ILKHA)