excise tax to come into effect early 2018
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
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

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 09:32 2018 Wednesday ,12 December

Huawei CFO gets bail; China detains ex-Canadian diplomat

GMT 18:35 2018 Friday ,14 December

Can Armenia break the ice with Turkey?

GMT 09:09 2016 Saturday ,10 December

Laureates to receive Nobels, except Bob Dylan

GMT 09:21 2017 Wednesday ,19 April

Trump era a new challenge for the IMF

GMT 19:57 2016 Wednesday ,24 August

China Urges North Korea to Halt Provocation

GMT 14:47 2016 Monday ,22 August

Work until 69? Bundesbank’s call riles Germans

GMT 15:20 2011 Friday ,12 August

Lebanese Court Refuses Fayrouz\'s Case

GMT 16:23 2016 Thursday ,24 November

Oil prices edge higher despite doubts on OPEC-led cuts

GMT 18:52 2016 Monday ,16 May

Antiquities minister arrives in London

GMT 18:26 2016 Friday ,18 November

China heads to APEC summit strengthened by Trump win

GMT 20:41 2016 Wednesday ,14 September

About 200 Zika cases recorded in Thailand

GMT 13:11 2016 Friday ,30 September

Giant dinosaur footprint discovered in Mongolia desert

GMT 11:23 2016 Tuesday ,11 October

Colombia to launch peace talks with ELN rebels

GMT 09:03 2017 Sunday ,22 October

K-Pop star apologises over dog bite death

GMT 10:47 2016 Monday ,12 December

Asian energy firms rally with oil on output cut deal
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday