On 20 April 2017, Saudi Arabia published the Gulf Cooperation Council (GCC) Unified Agreement for Value Added Tax (VAT) as approved by the Cabinet in January 2017. The agreement sets out the framework for the introduction of VAT as agreed to by all GCC States, while providing some flexibility for local implementation. Key points of the agreement include:
Each GCC State is to implement VAT for 2018, although to date, only Saudi Arabia and the United Arab Emirates have indicated a 1 January 2018 effective date. The other GCC States include Bahrain, Kuwait, Oman, and Qatar.
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