Plans to introduce a value-added tax for Gulf Arab oil exporters remain at a technical stage with the timing of the long-considered project still undecided though 2012-2015 have been tentatively discussed as potential launch dates, officials said.
Six Gulf Arab crude producers have been mulling the joint VAT plan over the past five years, aiming to trim their budget dependence on volatile oil prices, expand tools to steer hydrocarbon-reliant economies and reform their low-tax systems.
"It is only at the discussion stage," Younis al-Khouri, undersecretary and director general at the United Arab Emirates finance ministry, told Reuters on the sidelines of a meeting of Arab finance ministers in the UAE capital on Wednesday.
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