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Finance ministry reduces taxes on hotels, restaurants and gas stations

Abdul Qahir stated that fuel stations will pay a fixed tax of 0.3 afghanis per liter, while this amount was previously 0.6 afghanis per liter.

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The Ministry of Finance says based on a decree of the Islamic Emirate’s supreme leader, taxes on hotels, restaurants and gas stations have been reduced across the country.

Speaking at an event in Kabul, the Deputy Minister of Finance Mawlavi Abdul Qahir said that the owners of all hotels and restaurants are now required to pay only two percent income tax.

Abdul Qahir stated that fuel stations will pay a fixed tax of 0.3 afghanis per liter, while this amount was previously 0.6 afghanis per liter.

He added that the IEA always tries to provide the necessary facilities for taxpayers.

At the event, Deputy Prime Minister for Administrative Affairs Abdul Salam Hanafi also said that to facilitate the tax issue, tax penalties for the companies have been waived.

Meanwhile, fuel station union officials have welcomed the provision of facilities, especially in the tax reduction sector.

“We thank the Ministry of Finance, when our taxes are reduced, our prices will also be reduced. The effect of this is on the nation,” a representative of the oil tankers' union said.

According to officials of the Ministry of Finance, hotels and restaurants whose quarterly sales are less than 750,000 afghanis should pay a 2 percent tax and those with sales of more than 750,000 afghanis must pay a 5 percent profit tax.

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Gold holds near record peak as trade jitters buoy safe-haven demand

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Gold prices eased on Thursday as the dollar regained some ground, although concerns over the U.S.-China trade war kept the safe-haven bullion close to a record high level hit in the previous session.

Spot gold was 0.4% lower at $2,854.39 per ounce by 0802 GMT, after hitting an all-time peak of $2,882.16 in the previous session, Reuters reported.

U.S. gold futures shed 0.6% to $2,875.

The dollar index , which measures the greenback against six major rivals, was up 0.2%.

"Investors are trying not to miss this rally as they place their position because they are happy with the returns. That's the reason why it's (gold) hitting successive highs," said Soni Kumari, a commodity strategist at ANZ.

"Bullion could hit the $3,000 level soon ... However, what could make the market consolidate will be some clarity on trade ties or easing trade tensions."

On Wednesday, China filed a World Trade Organization complaint against U.S. President Donald Trump's new 10% tariff on Chinese imports.

A trade war between the world's two largest economies could weigh on global growth and drive up inflation, benefiting the bullion further as it is considered a safe investment during economic and geopolitical turmoil.

"The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand," Citi said in a note.

"Global growth concerns are also set to raise ETF and over-the-counter investment demand."

U.S. Federal Reserve officials also pointed to the large policy uncertainty around tariffs and issues arising from the early days of Trump's administration as among the top challenges in figuring out where to take the monetary policy in the months ahead.

Market focus is now on U.S. weekly jobless claims data, due at 1330 GMT, and the non-farm payrolls report on Friday, which could offer insights into the economy's overall strength.

Spot silver dropped 1.3% to $31.91 per ounce, and palladium fell 0.4% to $985.48. Platinum gained 0.2% to $981.74.

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US spending of $3.71 billion has had no impact on Afghanistan’s economy: Ministry

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The Ministry of Economy in a statement on Saturday responding to a report by the Office of the Special Inspector General for Afghanistan Reconstruction (SIGAR), said the $3.71 billion mentioned by the agency was allocated to international institutions, a large portion of which was used for their own expenses, and the rest designated as humanitarian aid.

SIGAR’s report stated that the US has spent $3.71 billion in Afghanistan over the past three years, but it has had little significant impact on the country’s economic situation.

According to the statement, the Ministry of Economy has urged the international community and countries to release over $9 billion of Afghanistan's foreign reserves, which have been frozen, to the Da Afghanistan Bank (DAB).

The statement stated this would allow the funds to be used for maintaining monetary stability, strengthening the financial system, facilitating trade with the world, and ensuring Afghanistan’s economic stability.

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Industry ministry to establish ‘unified union’ for pine nut sector

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The Ministry of Industry and Commerce (MoIC) said in a statement on Saturday that a unified union will be established for the pine nut sector to support its development and eliminate unhealthy competition among its members.

According to the statement, acting Minister of Industry and Commerce Nooruddin Azizi met with pine nut traders during a meeting to support and address the challenges faced by the pine nut sector.

In the meeting, discussions focused on the establishment of pine nut processing factories, export issues, supporting sector members, and creating a pine nut market within the country.

Traders also stated that currently, Afghan pine nuts are exported to China, India, and European countries.

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