News Deputy Minister of Finance: the IMF's recommendation to increase VAT to 10% is not binding

Abdulaziz Al-Rasheed, deputy minister of finance in charge of finance and international financial policies, said the IMF's recommendation to raise the value-added tax to 10% was only one recommendation and not an obligation.

In a statement to "CNBC Arabia", he stated that the Fund made permanent recommendations to countries and that the implementation of these recommendations was contingent on the assessment of countries, their interests and the economic situation. and financial.

He stressed that VAT was applied by consensus at the GCC level and not by purely national decisions, stating that it was applied by an international consensus and subject to international obligations.