Gulf discussing British taxes on their investments .. proposals combined them into one of the property

Looking heads of the GCC Chambers of Commerce and associations, today in the Omani capital Muscat, ways to strengthen economic citizenship between the GCC countries and the private sector of the Gulf, as well as discuss the visuals unions and chambers of Members about the tax system in Britain and its impact on Gulf investment project.

Here, he said the “economic” Abdul Rahim Hassan pure; Secretary General of the Federation of Chambers of the Gulf Cooperation Council (GCC), said the meeting will discuss developments in the Gulf Common Market and the mechanisms that have been applied, as well as discuss the Gulf private sector relationship and level of cooperation with international counterparts.

He added that he will discuss the tax system in Britain in general, and how to address them and addressed through access to the Gulf unified view this tax, as well as the study of a proposal to establish a coordinating committees to discuss the issues on the meetings of the International Labour Organization and the Arab Labour Organization.

For his part, explained for “economic” Gulf official, that the meeting of 46 of the Council of the Federation of GCC Chambers, will discuss procedural issues related to the march of the GCC private sector, unions and chambers of visuals Members about the tax system in Britain and its impact on Gulf investment project.

The official, who preferred anonymity, that the Committee on the executive leadership of the Federation of GCC Chambers at its last meeting in February (last February) in Bahrain, recommended that the General Secretariat of the Union to circulate the study from the Council of Saudi Chambers about the tax system in Britain, prepared by the group in charge of legal advisers in the Council, and it includes the nature of the problem and how to solve them.

He pointed out that the meeting will be briefed Bmriaat unions and chambers of members on the company prepared by the width (& Young) in cooperation with the Saudi-British Business Council, about the tax system in Britain before the Council meeting, in order to get out a unified Gulf opinion about the subject.

The source pointed out that the Chamber of Commerce and Industry of Oman, called for an open joint negotiation channels with the British side in coordination with government agencies in the GCC countries, Foreign such as ministries, to develop a convergent mechanism to some extent with Britain dealing with the citizens of Commonwealth countries in this regard, consider the size of relations economic and Gulf investments in the British market.

He continued, as proposed by Oman Chamber, the integration of all duties and taxes due on the property in a single tax, compared to the prices in neighboring Britain, the European market countries, that is the tax value is calculated according to the geographical location of the property and services available in the investment area, due to the varying financial value and services between Property Indeed, in the city and property located in the countryside, in addition to determining a reasonable period of time for the entry into force of this agreement in terms of reconsideration gradually every two years, for example, to attract and encourage localization of this type of investment in the British market.



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