excise tax to come into effect early 2018
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Excise Tax to come into effect early 2018

Arab Today, arab today

Arab Today, arab today Excise Tax to come into effect early 2018

Excise Tax to come into effect early 2018.
Manama - Arab Today

The Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, announced that the Excise Tax on Selected Items Law would come in force early 2018. As stated in the law, the tax rate will be 100% for tobacco and energy drinks, and 50% for soft drinks.
The Finance Ministry has launched a new section covering all aspects of the new scheme in its official website https://www.mof.gov.bh. The statement follows the promulgation of Law No (39) on the Ratification of the GCC Unified Excise Tax Agreement, and Law No (40) on the mentioned tax.

The application of the Excise Tax in Bahrain comes within the GCC Supreme Council resolution in its 36th session, Riyadh, December 2015, authorising the Financial and Economic Co-operation Committee to complete elements required in this respect. The resolution was followed by the signing of the agreement by member states of the group in November 2016, and eventually the Supreme Council resolution in its 37th session, Bahrain, December 2016, authorising the committee to set up a time framework for application.

The Excise Tax application comes as an incentive for the consumption of healthy goods and limiting the use of products with negative impact on both health and environment. It will also enable the government to proceed with its development programmes and contribute to reaching the break-even between government revenues and expenditure.

Source: BNA

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

excise tax to come into effect early 2018 excise tax to come into effect early 2018

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

excise tax to come into effect early 2018 excise tax to come into effect early 2018

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday