GCC Set To Impose Income Tax Soon - The Gulf States have agreed to implement corporate and individual
income tax by 2012, and are now planning to bring the deadline closer,reports Emirates Business. "The prospect of drastic reductions in oil revenues and the resultant fiscal deficits has forced the six countries to examine whether implementation can be done earlier than 2012."
Jameel replied on Monday, January 5, 2009 08:18 PM
Yes that is obvious but I am cncerened about another thing, if this this recession prolonged and oil prices remained low, then GCC countries can impose bar to only limited amount of money can be sent to home countries like 40 or 50%, Similar rule is there in Libya for long time. |
