GCC plans tax on luxury items

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Abdulaziz Al Uwaisheg, the GCC’s head of studies and integration, told Al Watan the six-nation body had commissioned a team to list items that could be liable to the new tax from 2012, including private planes, luxury cars, yachts and "harmful items" – a likely reference to cigarettes.

Uwaisheg, based in Riyadh, said the GCC team looking into the proposed taxes would next meet in October.

The GCC has already set 2012 as the deadline for implementing a new value added tax, the paper said.

 

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