Assad Issues Law on Banking Courts and Appeals

Assad also issued a law exempting taxpayers from interests and fines for overdue taxes

President Bashar al-Assad on Wednesday issued law no. 21 for 2014, 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 Assad also issued law no. 20 for 2014 exempting taxpayers from interests and 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.

 

Translated and edited by The Syrian Observer

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