President al-Assad issues laws on establishing banking courts and exempting taxpayers from fines

Damascus, SANA – President Bashar al-Assad on Wednesday issued law no. 21 for 2014 on establishing banking courts of first instance and appeals in all provinces for taking up lawsuits in which one party is a bank or a financial establishment.

As per the law, standing lawsuits that fit the criteria will be referred to one of the new courts, which also covers appeals.

President al-Assad also issued law no. 20 for 2014 on exempting taxpayers from interests fines for overdue true income taxes, consumption taxes, real-estate sales taxes, and tourist facility taxes if they pay the due taxes by December 31, 2014.

Hazem Sabbagh

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