(MENAFN- Arab Times)
KUWAIT CITY: Unlike Saudi Arabia which is preparing to apply selective tax from April 2017, other GCC countries including Kuwait have not yet decided on the date for implementation of the tax, reports Al-Seyassah daily quoting informed sources.
They revealed that the concerned GCC committee has been holding discussions concerning the situation of the countries in order to bring an end to smuggling operations by increasing human elements at the borders.
The sources said discussions held in Riyadh indicate that selective tax will be applied on commodities such as cigarettes, energy drinks and products containing sugar. They revealed about Kuwait's intention to postpone the tax implementation for a short time in order to obtain the approval of legislative authority, like in Bahrain and Saudi Arabia.
MENAFN2103201700960000ID1095335193
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.