The six-member Gulf Cooperation Council (GCC) has finally joined the VAT bandwagon, and member states will start to introduce the tax in January 2018. Under the new tax regime, businesses would play a ...

In a region with very little experience of taxation, the imminent introduction of a value added tax (VAT) on goods and services in the six Gulf Cooperation Council (GCC) countries - including the UAE ...

Although the United Arab Emirates (“UAE”) currently has Emirate level tax legislation in place, taxation has, to date, generally only applied to the oil and banking sectors. The last decade has seen ...

The recent announcement to implement VAT has undoubtedly called for a complete scrutiny and overhaul across the GCC. While the taxation itself is not a cause for concern owing to its low rate, its ...

25 October 2004 RIYADH/JEDDAH -- Saudis and expatriates have welcomed the GCC finance ministers' move to levy VAT and said it should begin with harmful products like tobacco and some luxury goods.

All six Gulf Cooperation Council states—Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Oman and Qatar—will introduce value-added tax during 2018, initially at a rate of 5 percent. Expected ...

In a strategic effort to boost tourism, Saudi Arabia has launched a Value-Added Tax (VAT) refund service for international visitors. The initiative, led by the Zakat, Tax and Customs Authority (ZATCA) ...

GCC countries need to overhaul their tax systems and increase tax revenues. This is an important part of implementing a comprehensive medium term fiscal adjustment strategy, which should include three ...

The Situation: Businesses and consumers are confronting a pair of new tax laws in Saudi Arabia. The Action: A new Excise Tax, on luxury products and goods deemed harmful to human health or the ...

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