Damascus, Aug. 12 (SANA)Syria’s Finance MinisterMohammed Yisr Barniehdiscussed draft tax legislation with anInternational Monetary Fund(IMF) mission specializing in tax policy, focusing on reforms aimed at meeting current requirements, economic reform priorities and international trends.

The IMF mission, headed by IMF Syria Mission ChiefRon van Rooden, concluded its visit to Syria in August 2026. The visit marked a further step in the IMF’s recently resumed on-the-ground engagement with Syria following a 14-year hiatus.

The Fund has deployed technical missions through its Fiscal Affairs Department and the Middle East Technical Assistance Center (METAC) to support the development of Syria’s tax and revenue policies. As part of the renewed cooperation, an agreement was reached on a broad technical assistance program aimed at modernizing tax administration and improving revenue mobilization.

The IMF mission held a series of meetings with the Finance Ministry’s working team and the Tax Reform Committee. Participants reviewed new draft tax laws, discussed their legislative structure and implementation mechanisms, and considered technical comments on the legal texts.

The mission also delivered detailed presentations on international best practices in income taxation, value-added tax and indirect taxes.

The IMF mission expressed its appreciation for the progress Syria has made in updating its tax system and commended the efforts of the working team, noting that the draft laws reflect a serious effort to align with international standards.

It also presented proposals to complete the legislative and executive aspects of the reform and affirmed its readiness to continue providing technical assistance during subsequent stages of preparing the executive regulations.

As part of the mission’s activities, an expanded workshop was held in Damascus to discuss the new tax system.

The workshop brought together representatives of chambers of industry and commerce, as well as experts and academics specializing in tax and financial affairs, alongside members of the IMF mission.

During his meeting with the mission, Barnieh said the new tax system had been prepared according to Syrian priorities for supporting economic recovery.

He said it aims to achieve important economic objectives, including stimulating economic activity, encouraging the private sector and reducing the tax burden on low-income groups.

Barnieh also stressed the importance of benefiting from international experiences and institutions in a manner that serves these objectives.

In a related development, Barnieh held a virtual meeting with a senior management team fromBank of Americato discuss areas of mutual interest and potential cooperation, as part of Syria’s efforts to strengthen its engagement with the international financial system.

Barnieh affirmed Syria’s commitment to rebuilding a strong and transparent financial sector in line with international standards, particularly those related to combating money laundering and terrorist financing (AML/CFT).

Bank of America officials expressed their willingness to visit Damascus in the near future to continue discussions and explore potential areas of cooperation.