The government of Oman has reportedly announced its intent to implement its value added tax (VAT) regime with a standard rate of 5% effective 1 September 2019. As per an agreement among the Gulf Cooperation Council (GCC) member states, Oman is committed to introducing a VAT regime. GCC member states were to implement VAT from January 2018, although only Saudi Arabia and the United Arab Emirates met that deadline for the implementation of their VAT regimes, and Bahrain has recently approved its regime, which is to apply from 1 January 2019.