The Investment Authority announces the financial-inclusion drive for traders
The ministry’s representative stressed that the new rules aim at transparency in the supply chain rather than at fixing prices, and that breaches will go to the Consumer Protection Agency.
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
What it means for traders
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
The small trader is not asking for a subsidy. He is asking for one clear rule that does not change every three months.
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
The figures in brief
- easier finance for small enterprises among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
Comments
No one has commented on this story yet. Be the first.