GCC ministers keen on financial, economic convergence – Al-Saleh

RIYADH, May 3 (KUNA) — The GCC Finance Ministers are keen on enforcing directives by the bloc’s leaders for achieving financial and economic convergence among the member states, for pushing a head the wheel of joint action for more integration and unity.
Deputy Prime Minister, Minister of Finance and Acting Minister of Oil Anas Al-Saleh made the statement to KUNA after the conclusion of the 102nd GCC Financial and Economic Cooperation Committee in Riyadh on Tuesday.
The meeting discussed several significant topics, including two draft accords on value-added tax (VAT) and selective tax in the GCC, Al-Saleh said.
He added that the 36th session of the GCC Supreme Council had entrusted the committee with completing procedures for approving and signing the two taxes by mid-2016 at the most.
Today, the committee also tackled deleterious goods in the member states, including tobacco, and the importance of taking necessary measures to protect people’s health.
In the meantime, the GCC Ministers of Finance will convene in an extraordinary meeting by the end of the month, Al-Saleh said.
The 102nd meeting addressed the ongoing arrangements for the coming GCC Consultative Summit. (end) yms.msa

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