Manama: Bahrain is gearing up for implementation of the Selective Tax to be levied on tobacco products, soft and energy drinks.
The issue topped the agenda of a meeting between the Shura Council Economic and Financial Committee and the Industry, Commerce and Tourism Minister Zayed Al Zayani.
The draft law on ratification of the unified GCC Selective tax agreement has already been referred to the legislative branch to be scrutinised and endorsed.
The new fees levied on the commercial registers will also take effect soon.
Committee chairman Khalid Al Maskati stressed the importance if discussing draft laws as well as mesaures which will be implemented by the government in the coming period.
He highlighted the economic agreements which will take effect in Bahrain, in tandem with other GCC member states.
Al Maskati expected the Value Added Tax to be referred to the legislative authority during the current session. He urged flexibility in implementing legislation, taking into account bahraini citizens, small traders, investors and foreigners.
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