Value Added Tax in The GCC | Insights by Industry | Volume 1
Prepare your business for the VAT introduction in the GCC
The progressive implementation of VAT throughout the Gulf from 1 January 2018 marks the start of some of the most exciting, dramatic and far-reaching socioeconomic changes in the region since the discovery of oil reserves in commercial quantities during the 1960’s. So how should the various businesses and industries prepare for VAT introduction in the GCC?
To help businesses understand how the introduction of VAT in the GCC may affect their day to day activities, the Deloitte tax practice in the Middle East issued a series of whitepapers that are designed to focus on the impacts of the value added tax on specific industry types. This is the first volume of the series of upcoming whitepapers: “VAT in the GCC – Insights by industry”.
The paper includes an analysis of the likely future state of the GCC under VAT for industries which will enable readers to understand the upcoming changes whilst also highlighting what needs to be done and the potential effects on their day to day activities. In this light, the report covers the following chapters and industries:
- Preparing for VAT introduction in the GCC
How do businesses get ready for VAT in the Gulf?
- Impacts of VAT on the retail industry in the GCC
Retailers, VAT and the pricing conundrum for businesses in the Gulf
- Impacts of VAT on the automotive industry in the GCC
Gearing up for change, the view ahead for dealers and buyers in the Gulf
- Impacts of VAT on the Meetings, Incentives, Conferences, and Events (MICE) industry in the GCC
Lead times on the VAT challenge for the industry in the Gulf
- Impacts of VAT on the financial Services and insurance industry in the GCC
Why VAT, Financial Services and Insurance are a difficult combination
If you would like to discuss any of the aspects covered in greater detail, please get in touch with any of our VAT specialists below.