Gulf Cooperation Council: Unified Tobacco Pricing Plans Starts in Saudi Arabia
Type
E-journal
Date
14 Mar 2016
Jurisdiction
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates
Taxonomy
Offences against the State & the General Public, Customs & Excise Duties
Copyright
LexisNexis
Analysis
Saudi Arabia has started implementating the Gulf Cooperation Council (GCC) decision to increase the minimum threshold at which customs tariffs can be requested for tobacco and its derivatives in all GCC member states.
The official spokesperson for Saudi Arabia's Customs Department, Essa Alessy said the Kingdom has increased the minimum threshold of goods which contain tobacco and its derivatives to double the old threshold.
He added the goods' values declared by tobacco traders is misleading and doesn't represent the true value of tobacco as traders tend to underestimate the true cost of the goods to get cheaper tariffs. Now, there is a set minimum threshold for all tobacco goods which traders cannot go below.
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