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The introduction of Value Added Tax (VAT) in the Cooperation Council for the Arab States of the Gulf or GCC is creating a big change on how companies conduct their businesses.
Businesses will have to review the impact of VAT on demand and supply chain, cash flows, pricing and market competition, profitability, systems and technology, people knowledge, and corporate governance and compliance reporting.
The list of items below can serve as a checklist to help you identify and investigate areas for consideration.