GCC VAT Treaty
Representatives of the Member States of the Gulf Cooperation Council (GCC) have signed the VAT Framework Treaty, confirming the introduction of a formal VAT system in all six Member States of the GCC over the coming years. So what are the key considerations?
The infographic provides a short overview of what we expect to see in terms of the GCC VAT Treaty, and what we expect to be the key considerations for businesses operating within the Middle East.
The main sections of the infographic answers the below questions:
- GCC VAT Treaty - What is it and why was it decided?
- GCC VAT Treaty - What do we know? Timing, application of tax and rate.
- GCC VAT Treaty - What should we think about? Early preparation.
- GCC VAT Treaty - What are the common pre-implementation actions? Current application and longer term actions for businesses in the Middle East.
- GCC VAT Treaty - What are the local considerations?