Cabinet Forwards Key Financial, Digital Data, and Defense Proclamations to Parliament for Final Ratification
By Staff Writer
During its 59th regular session, the Council of Ministers approved a draft proclamation for a $198 million loan agreement signed with the International Development Association (IDA), deciding to forward the measure to the House of People’s Representatives for final ratification.
Federal officials confirmed that the loan will directly finance national energy sector reform, infrastructure investment, and modernizing power operations.
The Council deliberated on and passed decisions regarding six major agenda items spanning legal reform, digital development, agriculture, tax regulation, and national defense.
Cabinet members reviewed and unanimously approved a draft proclamation defining the organization, powers, and duties of executive bodies, referring the legislation to parliament. Additionally, the Council forwarded a new national data administration draft proclamation to the legislative body. The proposed data framework aims to safeguard data sovereignty, establish security standards, facilitate data-sharing mechanisms, and support digital services and artificial intelligence research across public and private sectors.
In defense affairs, the Council reviewed proposed amendments to the Defense Forces Proclamation, unanimously voting to send the revised bill to the House of People’s Representatives.
In the financial and revenue sectors, the Council reviewed and finalized key tax adjustments regarding federal income tax and value-added tax systems. Cabinet members approved a federal income tax amendment regulation, establishing that the updated rules will take effect immediately upon official publication in the Federal Negarit Gazette. Furthermore, executive members approved an amended Federal Value Added Tax regulation designed to restructure tax obligations across various taxpayer classifications while exempting specific essential goods and services from taxation.
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