Kuwait And Other GCC Countries Confirmed The Introduction Of VAT
Category: Kuwait
kuwait-and-other-gcc-countries-confirmed-the-introduction-of-vat_kuwait
Immigrate to Canada or Australia
Study In Abroad

Kuwait and other GCC countries have confirmed the introduction of the unified Value Added Tax (VAT) framework and selective tax policy with adoption of the domestic legislation, reports Al- Shahed daily.

Saudi Arabia has since published the text of the GCC VAT Framework in its Official Gazette, which will be enforced 15 days after the date of publishing.

Sources added the executive decrees will define activation of the law and specify the type of commodities that will be a focus for taxation. They noted the Gulf countries will enforce two types of tax under the executive legislation, citing VAT and selective tax — the latter will be imposed on harmful commodities such as tobacco and fizzy drinks.

The Gulf countries have agreed that 200 percent tax should be imposed on the importers of tobacco at the borders and calculation will be done according to the cost of import.

Sources explained the initial agreement was to introduce selective tax on fizzy drinks and at least 5 percent VAT on other commodities and services by 2018

SOURCE : ARABTIMES

28 May, 2017 0 367
Posted Comments
Popular News
moe-allows-travel-without-leave-permits-for-resident-teachers-staff_kuwait
MoE Allows Travel Without Leave Permits For Resident Teachers, Staff The Ministry of Education (MoE) said Monday that resident teachers and ministry staff can travel back to their respective countries without needing a leave permit. According to the ministry’s tw... March 24, 2020 2 7502 Category: Kuwait
full-curfiew-is-an-available-option-on-table_kuwait
Full Curfiew Is An Available Option On Table MOH spokesperson Dr. Abdullah Al-Sanad says that issuing "Full Curfew" decision is an available option to limit the spread of the Novel #Coronavirus, but we hope that we do not reach to this... March 25, 2020 0 5344 Category: Coronavirus
coronavirus--after-initial-recovery-68yearold-philippines-national-dies-in-mumbai_kuwait
Coronavirus - After Initial Recovery 68-year-old Philippines National Dies In Mumbai A 68-year-old Philippines national who was being treated for acute renal failure and respiratory distress in Mumbai died on Sunday, officials said. He had initially tested positive for COVID-19 but... March 24, 2020 0 5108 Category: Coronavirus
banks-to-postpone-installment-premiums-and-credit-card-payments-without-interest_kuwait
Banks To Postpone Installment Premiums And Credit Card Payments Without Interest Kuwait banks have decided to postpone loan installments of Kuwaiti citizens and Small and Medium Enterprises (SMEs) for a period of six months and freezing of the interest payment during that time, Al... March 25, 2020 0 5018 Category: Coronavirus
indian-staff-nurse-passed-away-in-kuwait-mother-dies-on-hearing-news-of-sons-death_kuwait
Indian Staff Nurse Passed Away In Kuwait; Mother Dies On Hearing News Of Son's Death Indian staff nurse Renju Cyriac working at Adan Hospital passed away in Kuwait. He was 38 years old. Renju Cyriac hails from Mavelikkara in Kerala passed away Saturday morning due to heart attack. He ... March 28, 2020 0 4714 Category: Coronavirus
bangladesh-and-sri-lanka-join-philippines-and-india-in-refusing-to-receive-their-nationals_kuwait
Bangladesh And Sri Lanka Join Philippines And India In Refusing To Receive Their Nationals Bangladesh and Sri Lanka have joined India and the Philippines by refusing to receive their nationals to be deported from Kuwait. A security source told Al-Rai newspaper that the Department of Se... March 24, 2020 1 4191 Category: Coronavirus
covid19-outbreak-in-kuwait-under-control--health-minister-_kuwait
COVID-19 Outbreak In Kuwait Under Control - Health Minister Minister of Health Sheikh Dr. Basel Al-Sabah has assured the novel coronavirus (COVID-19) outbreak in Kuwait is manageable. The ministry is monitoring on daily basis some cases of those who had con... March 24, 2020 0 3954 Category: Coronavirus
8-deportees-among-350-egyptians-to-fly-tomorrow_kuwait
8 Deportees Among 350 Egyptians To Fly Tomorrow Sources at DGCA revealed that a second Egypt Air flight will carry 350 Egyptians to their country at 4pm on Wednesday, tomorrow. The sources stated that the scheduled flight will arrive tomorrow morni... March 24, 2020 0 3912 Category: Coronavirus
kuwait-social-affairs-ministry-launches-donation-campaign_kuwait
Kuwait Social Affairs Ministry Launches Donation Campaign The Kuwaiti Ministry of Social Affairs on Friday approved launching a campaign to raise donations on Saturday for fighting coronavirus. Up to 41 Kuwaiti charities will pariticpate in the campaign, pro... March 27, 2020 0 3584 Category: Coronavirus
17-new-covid19-cases-reported-in-kuwait-today--total-225_kuwait
17 New Covid19 Cases Reported In Kuwait Today - Total 225 Kuwait reported 17 new cases of the novel coronavirus, raising the total number of cases in the country to 225. ... March 27, 2020 0 3517 Category: Coronavirus
View All
Visit Visa
Visit Visa
Indemnity
Indemnity
Dependent Visa Driving License Project Visa Termination
Termination
Civil ID Crime News
Crime News