The Gulf Cooperation Council ("GCC")
countries, traditionally known for their low-tax environments, have
undergone significant transformations in their tax regimes over the
past years. Historically reliant on oil revenues to sustain their
economies, GCC nations have maintained minimal taxation systems for
decades. However, declining oil prices and the need to diversify
revenue streams, in alignment with strategic plans like Saudi
Arabia's Vision 2030 and the UAE's Economic Vision 2030,
have driven the introduction and expansion of taxation
frameworks.
As we approach 2025, several developments are expected to
reshape the tax landscape across the Gulf, marking a paradigm shift
in fiscal policy. The recent implementation of corporate tax in
several GCC countries, such as Saudi Arabia and the UAE, has set a
precedent for others, many of which are accelerating the adoption
of similar frameworks. Saudi Arabia, which already taxes
foreign-owned entities, may expand its
