Key Recommendations For VAT Implementation In The Gulf Cooperation Council

The common legal framework for the introduction of a VAT system in GCC countries is now set. Each Member State will integrate the regulations into their local law and implement VAT from 1 January 2018.

The Gulf Cooperation Council (GCC) – of which the UAE and Qatar are member states along with Saudi Arabia, Kuwait, Bahrain, and Oman – will start implementing the Value Added Tax (VAT) from 1 January 2018. Here are some key regulatory information and recommendation that global business can take into account when preparing their business to VAT rules.

What companies need to know?

VAT rate will be set at 5% for all GCC states, Saudi Arabia and the UAE have issued the legislation to enable the Tax Authorities to be formed.