Kuwait

Kuwait may ditch VAT launch

January 11th, 2018

Kuwait may consider introducing an alternative to the proposed 5% VAT regime. Kuwait is one of the six Arab Gulf countries which committed in 2017 to launching a harmonised VAT regime within two years. On 1 January 2018, Saudi Arabia and the UAE implemented VAT. A third country, Bahrain, has committed to launching later in …


United Arab Emirates

Arab Gulf VAT live today

January 1st, 2018

Saudi Arabia and the United Arab Emirates (UAE) have today become the two latest states to impose Value Added Tax on their consumers.  From midnight, 5% VAT became due on most transactions, including between companies (but with the right to reclaim). GCC 6 states and VAT In 2016, the six members of the Gulf Cooperation Council …


Kuwait

Kuwait approves VAT and excise draft laws

August 12th, 2017

Kuwait has accepted this week draft implementation laws from the Gulf Cooperation Council (GCC) for new VAT and excise taxes. Kuwait is one of the six member states of the GCC, all of which are planning to introduce 5% VAT over the next year.  Only Saudi Arabia and the UAE are likely to launch on 1 Jan 2018. …


United Arab Emirates

Gulf ready for VAT?

May 25th, 2017

As the six Arab Gulf states prepare for the launch of 5% VAT from 1 January 2018, many questions and concerns remain unaddressed. Legal Delays The principle concern is that no legislation has been published yet – although the GCC Unified VAT Framework Agreement has been published this month.  This risk will be compounded by …


Kuwait

Kuwait

May 24th, 2017

The decision by the Supreme GCC Council to implement VAT in the six GCC countries was taken in 2016. Keep up to date with the latest news and developments as they happen with VATlive. Kuwait is most likely delay the implementation date for VAT until 2019.


United Arab Emirates

GCC publishes VAT treaty

April 29th, 2017

The Gulf Co-operation Council, which incorporates six Arab Gulf States, last week published its VAT Treaty, outlining the proposed January 2018 common VAT regime.  The six GCC states are: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. This framework agreement outlines the structure of the harmonized VAT regime across the six states, and will …


United Arab Emirates

Gulf zero-rated VAT supplies

April 23rd, 2017

The six members of the Gulf Cooperation Council have confirmed the supplies which will be zero-rated for VAT purposes.  This means they will be charged without VAT, but suppliers can reclaim any input VAT incurred. The list includes: Education Oil & gas Domestic transportation Health services Real estate Basic foodstuff (with central approval) The GCC …