(MENAFN) The government is predicted to collect USD 3.93bn from implementing the value-added tax (VAT) in financial year 2016/2017.
Moreover, the implementation depends on the approval of the parliament, which is one of the conditions imposed by the Intl' lending agency.
However, there has not been any stress from outside of the country to impose the tax, which is a move would undermine the fiscal sovereignty of the country.
In addition, the government is preparing the law and there is a need for it to be applied, due to the reason they want to apply for.
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