Selective tax preparation to be done within 1 month

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Selective tax preparation to be done within 1 month

Posted on : Monday 9th of April 2018

KUWAIT CITY:  Sources from Ministry of Finance said they are expecting the preparation of the selective tax to be completed within one month. They stressed that the approval of the law will be based on the coordination and results of meetings between the government and the parliament in this regard.

A government/ Parliament atmosphere has been created to apply tax selectively, informed sources told the Al-Anba daily. The sources revealed the government will cancel the recent increase in cigarette prices when applying the selective tax.

The sources added the government will oblige the suppliers of cigarettes to cancel the increase in the cost of cigarettes between 20 and 30 percent in case the selective tax is applied.

The sources explained the agreement stipulates that if the selective tax is applied, it will be added to the old prices before the increase and not the current prices. This selective tax includes tobacco and its derivatives, soft drinks, and energy drinks.

Courtesy : Arab Times

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