The Shura Council has agreed to amend the law on stamp duty,  eliminating 207 stamp duties enlisted in the current law.  The new regulation includes a number of amendments, namely modifying the stamp ...

The Shura Council has agreed to amend the law on stamp duty,  eliminating 207 stamp duties enlisted in the current law.  The new regulation includes a number of amendments, namely modifying the stamp bases by reducing its categories and excluding certain elements from being subjected to taxation by reducing the tax categories on each life insurance installment to 1% from 3%; as well as reducing insurance on transportation from 15% to 10% with a minimum limit of one pound.  The new law also stipulates the reduction of tax on each war insurance installment to 10% from 20%.  The draft law also defined the type and due tax on commercials as relative and has been listed at 15% down from 36%  of the cost of commercials broadcast on billboards, movie houses, television or newspapers. (source: Al-Akhbar)