The Gulf Co-operation Council (GCC) is planning to introduce up to 100% tax on luxury goods likely to include cigarettes, a GCC official said in comments published yesterday.
Abdulaziz al-Uwaisheg, the GCC’s head of studies and integration, told Al Watan the six-nation body had commissioned a team to list items that could be liable to the new tax from 2012, including private planes, luxury cars, yachts and “harmful items”— a likely reference to cigarettes.
Uwaisheg, a Saudi based in Riyadh, said the GCC team looking into the proposed taxes would next meet in October.
The GCC, which includes Kuwait, Qatar, Bahrain, Oman, Saudi Arabia and the United Arab Emirates, has already set 2012 as the deadline for implementing a new value added tax, the paper said. – Reuters
This is crazy guys, I mean, taxes.... I'm happy that they tax cigarettes, but I hope they wont start taxing Aston Martins! Or else I'll never reach my goal!
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