VAT and healthcare in the GCC has been saved
VAT and healthcare in the GCC
Impacts of VAT on the healthcare industry in the Gulf
The healthcare Sector in the Gulf Cooperation council (GCC) has seen a dramatic expansion over the past decade to meet the evolving needs of the increasing population and the ambition to become a medical tourism hub. So how will Value Added Tax (VAT) implementation in the GCC affect the healthcare sector?
The release of the Treaty is a landmark event for the region and marks the true beginning of VAT implementation across the GCC. The Treaty establishes the common principles of the VAT system which is to apply in each GCC State and provides a structure on which domestic VAT legislation will be developed. The publication of the Treaty means we have clarity over the principles which every State will be required to enact and can confirm our understanding of how VAT in the GCC will impact the healthcare sector.
The summary document aims to give a greater understanding of the introduction of VAT in the GCC and how VAT will impact the healthcare sector and if there is any associated challenges as per the below:
- Basic concepts of the GCC VAT Treaty
- What will be the VAT liability for supplies in the healthcare sector in the GCC?
- What are the issues that will arise upon the introduction of VAT in the GCC?