Our source has exclusively obtained a decision from the House of Representatives amending Article (25) of Law No. 7 of 2010 on income taxes.
According to the decision, the article now states: “The state’s right to claim what is due under the provisions of this law does not expire over time. This provision applies to any statute of limitations that has not yet been completed.”
Our source has obtained a letter from the Chairman of the House of Representatives to the Public Prosecutor regarding the amendment of the agreement between the National Oil Corporation and Eni concerning exploration and production sharing for the “D” contract area of Wafaa-Bahr al-Salam.
Aguila Saleh emphasized the need to open an investigation into the reasons for the amendment and to uncover any losses sustained by Libya due to the reduction of its production share in favor of the foreign party.
Our source has exclusively obtained the decision by the Speaker of the House of Representatives to impose a 15% fee on the official foreign exchange rate for all purposes. The exchange rate will include this fee, considering exemptions granted by the Speaker’s decisions, with the possibility of reduction based on Libya’s revenue conditions upon the recommendation of the Governor of the Central Bank of Libya and his deputy.
Additionally, revenue from this tax will be allocated to cover public project expenses, as outlined in the development resources managed by the Central Bank of Libya, in accordance with the House of Representatives Law No. 30 of 2023, for repaying public debt when necessary.
The Director of the Office of Presidential Affairs in the House of Representatives has sent a formal letter to the Governor of the Central Bank of Libya.
The letter reads as follows:
Respected Sir,
Governor of the Central Bank of Libya,
Greetings,
Upon reviewing the correspondence dated June 20, 2024, with reference number (81/1199), which includes the receipt of communication from your esteemed bank’s postal department, along with decisions numbered (21-22-2024) concerning the appointment of a new governor and board of directors for the Central Bank, as well as the formation of a handover committee, His Excellency has instructed me to convey the following:
The decisions issued by the Presidential Council are deemed null and void. This stance is particularly significant following the House of Representatives’ confirmation of the continuation of the current governor and his deputy in their positions.
Please accept our highest regards and respect.
This communication underscores the House of Representatives’ position on the recent decisions by the Presidential Council regarding the Central Bank of Libya.
The Committee on Planning, Finance, and the General Budget of the House of Representatives has reviewed the decision of the President of the Council No. (22) of 2024, regarding the reformation of the Board of Directors of the Central Bank of Libya.
Within this framework, the Committee considers this decision null, given its violation of all legal means supporting it, including the Constitutional Declaration, its amendments, and the political agreement, reaching the provisions of Law No. (1) of 2005, its amendments, and especially the clauses concerning the authority of the legislative body. These clauses emphasize that the original authority for appointing the Board of Directors of the Central Bank of Libya is vested in the House of Representatives, without mentioning any delegation of this authority to any other body.
Consequently, what was issued by the Presidential Council is both void and illegitimate. In addition to being an infringement on the powers and competencies of the legislative authority, it undermines the stability and cohesiveness of the country’s institutions. The Committee on Planning, Finance, and the General Budget of the House of Representatives strongly denounces and condemns this action, considering it legally invalid and devoid of any political legitimacy from the Presidential Council. It is an act that leads to the disintegration of institutions and one of the most important pillars of the state. Therefore, the Committee calls on the Central Bank of Libya to take a clear stance and avoid these unconstitutional actions by adhering to its original legal framework, which was approved by Law No. (6) of 2004.
The Committee also calls on all executive institutions to refrain from complying with such unlawful measures, ensuring the safety of the law and the safety of the institutions. They are warned of the consequences of acting against this, as it constitutes a severe violation.
The Italian news agency Nova reported ongoing consultations between the Speaker of the House of Representatives and the “General Command” regarding the measures to be taken in response to the escalation by the Presidential Council Chairman over his decisions concerning the Central Bank.
These consultations include the possibility of a complete shutdown of the oil fields.
According to the Italian agency, Speaker Aguila Saleh and General Command leader Khalifa Haftar are threatening to close the oil fields to pressure the Presidential Council and the Government of National Unity to reverse the dismissal of Central Bank Governor Sadiq Al-Kabeer and to allow for changes in the management of the financial institution in the near future.