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IEA waives tax penalties for traders and investors

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The senior officials of the Islamic Emirate of Afghanistan held a ceremony on Sunday related to the waiver of tax penalties for businessmen and investors titled “waiver of tax penalties, supporting industry and trade” at the presidential palace.

Mullah Abdul Ghani Baradar Akhund, the Deputy Prime Minister for Economic Affairs, said in this ceremony that this measure was taken to support the businessmen and investors of the country.

Baradar has emphasized that currently all government expenses and budgets are financed from domestic revenues and it is necessary for the Ministry of Finance to provide full transparency in the field of tax collection.

He has also said that this transparency should be established in such a way that neither the Islamic Emirate’s revenues are lost nor undue taxes are imposed on investors and industrialists.

“It is the responsibility of the Ministry of Finance to create transparency in tax collection; transparency in such a way that the revenues of the Islamic Emirate are not lost, nor are unnecessary taxes imposed on investors and industrialists,” said Ghani Baradar.

The Second Deputy Prime Minister Abdul Salam Hanafi, however, has called on the businessmen and investors of the country to pay their taxes on time, otherwise, they will face legal action.

“The tax that is imposed by the Ministry of Finance should be paid in a transparent manner on time,” said Hanafi.

Simultaneously, Foreign Minister Amir Khan Muttaqi has also said that they have tried to provide facilities for traders outside and at the borders and customs to the best of their ability.

In addition, the officials of the ministries of finance and trade of industries say that the waiver of tax penalties for businessmen and investors is a good measure to support the private sector of the country and that they are trying to facilitate more facilities for investors in the country.

“The officials have tried to create facilities for progress in trade and industry and strongly support the private sector,” said Hedayatullah Badri, finance minister.

The officials of the Islamic Emirate meanwhile have asked the businessmen and investors to make effective use of the facilities and expand their investments in different sectors so that the economic problems in the country will be reduced and the working environment for the people will be favorable.

Business

36 mining contracts inked over the past year: Mines ministry

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The Ministry of Mines and Petroleum says it has signed 36 large and small mining contracts, with a total value of $1.3 billion over the past year.

Officials from the ministry stated that these contracts include 10 large mines, 25 small mines, as well as projects related to cement, salt, marble, and a major gas extraction contract with Uzbekistan, all signed with both domestic and foreign companies.

Meanwhile, economic experts have emphasized the importance of increasing investments in the mining sector for the country’s economic growth. They have stressed that priority in mining contracts should be given to domestic companies.

“It is better to prioritize domestic investors over foreign ones,” said Kamaluddin Kakar, an economic expert.

In the meantime, members of the private sector also stated that if both foreign companies and Afghan investors can partner in the mining sector, this will not only foster investment development in the country but also bring positive changes in capacity building within the mining extraction sector.

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Afghanistan ships first consignment to Europe via Khaf-Herat railway

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The press office of the Herat governor has announced the export of Afghanistan’s first shipment via the Khaf-Herat railway to Europe.

According to a statement from the office, the shipment includes 200 tons of dried fruits worth $1.2 million, which were exported to Turkey and Europe through the Khaf-Herat railway in the presence of Islam Jar, the governor of this province, and the Iranian Consul General.

The exported dried fruits in this shipment include pistachios, raisins, almonds, and pine nuts.

The statement added that over the past three months, more than 35,000 tons of goods have been transferred via the Khaf-Herat railway.

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Russia’s LPG exports to Afghanistan boom as Europe shuns it

The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.

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Russia’s exports of liquefied petroleum gas (LPG) to Afghanistan and ex-Soviet states in Central Asia have jumped following introduction of European Union sanctions against Moscow at the end of 2024, industry sources said on Wednesday, Reuters reported.

The European Union’s sanctions against Russia’s LPG over the war in Ukraine took effect on December 20. The restrictions were proposed last year by Poland, one of Russia’s largest LPG importers.

LPG, or propane and butane, is mainly used as fuel for cars, heating and to produce other petrochemicals.

According to the industry sources, railway supplies of LPG from Russia’s plants, including the Kazrosgas joint venture with Kazakhstan, jumped to the region by 80% year on year in January – February to 140,000 metric tons, read the report.

The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.

Traders expect great scope for more supplies to Afghanistan, where annual demand for LPG is seen at around 700,000 tons per year.

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