KUWAIT, Feb 18 (KUNA) -- It is imperative to build a tax system that is both "far-sighted and fair" in terms of expenditure, Kuwaiti Finance Ministry Undersecretary Aseel Al-Munaifi said on Tuesday, citing such a measure as beneficial towards Gulf-Arab tax cooperation.
The measure is also a step forward towards "tax integration" within Gulf Cooperation Council (GCC) member states, the official told a gathering of tax chiefs from the six-member bloc, hailing the talks as a platform for knowhow exchange on the matter.
Tax cooperation in the GCC is part of broader development plans within the bloc, added Al-Munaifi, while the talks examined a slew of topics dealing with efforts to build an efficient tax system that is in line with global standards and practices.
The gathering comes at a time where GCC states are ratcheting up efforts to bolster economic cooperation, including measures aiming to achieve financial sustainability, she underlined. (end) ak.nam