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Work teams across all customs centres continued to process cargo clearance and inspections
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No customs duty on gold in the GCC?
Will all kinds of gold be exempted from customs duty in the GCC?
dubai - There is also a proposal to calculate the customs tariff on gold based on the labour charge per gram
The study has been forwarded to member countries to get their views on the matter in a primary step to include their proposal to the Trade Cooperation Committee of the Secretariat General of GCC countries in Riyadh.
The Saudi Economist news site, quoting a senior GCC official, said the study was prepared based on an assignment from the ministers of trade and industry in GCC countries.
The official added that there is a proposal to calculate the customs tariff on gold, if it is not revoked, based on the labour charge per gram. This will generate more revenue to GCC governments, which will help double the quantity of gold imported.
- business@khaleejtimes.com
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