Gulf Cooperation Council: Tobacco Tax Approved
Type
E-journal
Date
8 Oct 2012
Jurisdiction
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates
Taxonomy
International Institutions & Organisations, General Commercial Law, General Competition Law, General Tax Law, Trademarks
Copyright
LexisNexis
Analysis
The Gulf Cooperation Council Finance Ministers have agreed to introduce a 100% tax on tobacco products. The tobacco tax, will be implemented once the appropriate measures have been examined in each of the GCC countries.
The Ministers also agreed on a pilot anti-dumping law. The law will be voluntary for three years and then mandatory.
The trade marks law was also discussed and the Ministers agreed to establish an expert team to conduct a study examining how to file lawsuits against finance companies and organisations.
For full story see: http://www.alqabas.com.kw/node/150875