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 Gulf Meeting: Expansion of Selective Taxation

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Join date : 2018-11-04

PostSubject: Gulf Meeting: Expansion of Selective Taxation   Wed Nov 07, 2018 8:36 am


Gulf Meeting: Expansion of Selective Taxation


The meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) was held yesterday, with the Finance Ministers' Agents Committee holding its 54th preparatory meeting under the chairmanship of Undersecretary of the Ministry of Finance Saleh Al-Sarawi and with the participation of Assistant Secretary General for Economic and Development Affairs in the General Secretariat of the Gulf Cooperation Council Representatives of Member States and the Secretariat, with the aim of discussing many topics and making appropriate recommendations thereon to ministers. 
During the meeting, the minutes of the 20th meeting of the customs union body, the minutes of the 24th meeting of the Joint GCC Market Committee, and the minutes of the seventy-first meeting of the committee of governors of monetary institutions and central banks of GCC countries were discussed.
The meeting also discussed the memorandum of the Secretariat concerning the lifting of customs duties on imports of reinforcing steel and iron rolls, as well as a paper on the expansion of the goods covered by the selective tax, the note by the Secretariat on the subject of taxable medicines and medical equipment, Which is subject to a zero percent tax rate for the Committee of Ministers of Health of the GCC States for the establishment of unified controls, and the Secretariat's memorandum on the amendment of the minimum tariff for tobacco and its derivatives in the GCC common tariff.
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