CBL source to Libya Herald: CBL moving towards ending cash collection of taxes and customs duties – moving solely to e-collections

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The Central Bank of Libya is transitioning to e-collections for taxes and customs duties, eliminating cash collection. This shift involves commercial banks and a fintech company, aiming to streamline payment processes and reduce fees for e-payment services.

A senior source within the Central Bank of Libya (CBL) revealed to Libya Herald yesterday that the decision to mandate commercial banks and the fintech company, Tadawul, to exempt the Tax Authority, the Customs Authority, and the Libyan Ports Company from fees / commissions for e-payment services via point-of-sale (POS) terminals represents “a strategic step […] The post CBL source to Libya Herald: CBL moving towards ending cash collection of taxes and customs duties – moving solely to e-collections appeared first on LibyaHerald.