VAT to bring KD 600 million income

The amount of tax income expected from imposing value added tax (VAT) and selective tax in the country is nearly KD 600 million, local media reported quoting Finance Ministry Undersecretary Khaleefa Hamada.

Evnthough this amount will not end the budget deficit, it will boost non-oil revenue, daily reported quoting him as saying.

According to report, VAT and selective taxes will be imposed as soon as they are approved by the National Assembly.