Update on the implementation of VAT in the UAE, KSA and Bahrain
Changes in regulation and tax reform continue to be on the increase in the Middle East, and this includes the implementation of a Value Added Tax (VAT) regime that commenced in the Kingdom of Saudi Arabia (KSA), the United Arab Emirates (UAE) and Bahrain with 5% VAT applying on the sale and purchase of most goods and services.
Deloitte in collaboration with the Association of Chartered Certified Accountants (ACCA) hosted a 60-minute webinar today on all related updates pertaining to VAT in the Gulf Cooperation Council (GCC).
The session was led by Deloitte Indirect tax specialists in the UAE, who provided insight on the needed guidance to lead a successful VAT journey in the Middle East. The agenda for the webinar was as follows:
- The VAT introduction in Bahrain
- The post implementation status of the KSA and UAE
- The current status of the remaining GCC member states and what is expected in the next months
- Q&A session