According to Amac News: This decision was taken in the seventh session of this council, which is part of its work in the second regular session of the 11th legal term.
This draft law is the first of its kind in the UAE to regulate the taxation of companies active in the field of extracting and using natural resources, including Mineral extraction and other related activities have been compiled.
Also, this action represents a significant progress in the development of Sharjah's financial system and shows the emirate's commitment to the balance between economic development and environmental sustainability.
Rashid bin Saqr Al Qasimi, director of the Sharjah Finance Department, said that this draft law is part of a wider effort to develop the tax system in Sharjah. and seeks to ensure effective governance and compliance with legal regulations.
At the same time, Hatem Mohammad Almasa, the director general of the oil sector and the executive director of Sharjah National Oil Company (SNOC) also emphasized the importance of this project in improving the sector's operations and monitoring activities. Related companies emphasized.
During the meeting, the council members emphasized the importance of this law in supporting the national economy of the UAE, as well as the strong commitment to sustainable development and conservation of natural resources.
This draft law seeks to establish a comprehensive legal framework to regulate economic activities related to natural resources.
This framework is aimed at increasing public revenues to support development projects within the emirate.