Last updated on December 28th, 2019 at 02:52 pm
This Law aims to achieve the following:
1. The regulation of the mutual rights and obligations between the Authority and the Taxpayer and any other Person dealing with the Authority;
2. The regulation of the common procedures and rules applicable to all Tax Laws in the State.
Any Person conducting any Business must keep Accounting Records and Commercial Books of his Business and any Tax related information as determined by Tax Law and maintain the same according to the controls laid down by the Executive Regulations to this Law.
3. The competent court shall impose Tax Evasion penalties against any Person who is proven to have been directly involved or instrumental in Tax Evasion pursuant to Federal Law No. 3 of 1987 referred to.
4. Without prejudice to subsection 2 of this Article, any Person who is proven to have been directly or instrumentally involved in Tax Evasion pursuant to subsection 3 of this Article shall be jointly and severally liable with the Person whom he has assisted, to pay the Payable Tax and Administrative Penalties pursuant to this Law or any other Tax Law.