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Gulf Cooperation Council Reaches Final Agreement on VAT

|Approved Changes|Bahrain-Kuwait-Oman-Qatar-Saudi Arabia-U ...
Bahrain-Kuwait-Oman-Qatar-Saudi Arabia-Untd A Emirates

On 16 June 2016, the Finance Ministers of the six members of the Gulf Cooperation Council (GCC) reached a final agreement for the introduction of a value added tax regime by January 2018. Of the six members:

  • Qatar confirmed on 18 June that it will implement VAT at the rate of 5% in 2018;
  • Saudi Arabia's cabinet has approved the adoption of a VAT regime in its the National Transformation Program…

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