Benghazi: Members of the House of Representatives announced the annulment of the law imposing taxes on goods and services, deeming it legally invalid. This decision was made public in a statement following a meeting of several parliament members on Monday night at the parliament building in Benghazi.
According to Libyan News Agency, the members emphasized the cancellation of the decision allowing exchange companies to sell foreign currency outside the approved banking system. They asserted that commercial banks are the only authorized entities to distribute foreign currency, rejecting the involvement of private commercial entities in this process.
In their statement, the representatives highlighted the importance of addressing any shortcomings or lack of confidence in bank performance through oversight mechanisms and institutional reform. They warned that any violations of these mechanisms would lead to legal accountability for officials.
The representatives further called for the unification of public spending within a single general budget to ensure full transparency and enforce unified financial oversight on all expenditures. The statement also stressed the necessity of amending the internal regulations of the House of Representatives, citing current loopholes that have hindered parliamentary effectiveness.