Economy
SGT Begins Awareness Campaign for Excise Tax
The Secretariat General for Taxation (SGT) launched an awareness campaign covering all governorates of the Sultanate to educate employers about the mechanism of applying the excise tax and the requirements for disclosure of the selective goods stock for taxable goods.
The SGT has prepared guidelines to clarify the application of the tax in the transitional period before the date of implementation of the law on 15 June 2019 as stipulated by the Royal Decree No. (23/2019), to take effect after 90 days from the official publication of the law.
The explanatory leaflet distributed in the campaign included information, data, and clarifications on the application of the 100 percent excise tax on tobacco and its derivatives, energy drinks, alcohol, and pork. Carbonated beverages are taxed 50 percent, based on the retail price.
The bulletin added that those who have a stock of selective commodities must disclose the size of the stock and pay the tax due within 15 days from the date of application. Those who have stock of the selective commodities will have to inventory the stock of each commodity subject to the excise tax at the end of 14 June 2019 and prepare a list of these goods, including at least name and product description, the product code (shown below the barcode), quantity and sale price.
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