With 2018 now here, businesses across the Gulf Cooperation Council (GCC) have spent recent months preparing for one of the biggest taxation changes to ever be introduced in the region - the introduction of VAT on January 1.
When the six member states of the GCC – Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates – signed a VAT Framework Agreement in early 2017, they confirmed a new phase in the region’s economic development.
Raad Al-Saady, Senior Managing Director, Business Development, Abdul Latif Jameel, speaks to the General Authority of Zakat and Tax (GAZT) in a recent interview about the importance of preparing for VAT.
