FAQs on Value Added Tax in the GCC | Volume 2

With the fast approaching implementation of VAT throughout the Gulf Cooperation Council (GCC) and particularly in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) on 1 January 2018, Deloitte has developed Volume 2 of its frequently asked questions (FAQs) document to help businesses in the GCC understand the potential impacts of the implementation of, and operation under VAT.

The main topics covered in the FAQs document are as follows:

• Treaty and legislation
• Registration
• Taxable transactions
• Forms, reporting etc.
• Financial services
• Electronically supplied services
• Imports and exports
• Free trade zones
• Transitional issues
• Reverse charge and special rules
• VAT reliefs
• Appeals
• Input Tax