Kuwait

Kuwait readies VAT legislation

August 7th, 2018

The Kuwaiti government is reported to be reading draft VAT implementation legislation for the national assembly to review in October 2018. This could lead to implementation in 2019. The opposition in parliament is likely to be high. Earlier reports in the summer had suggested a 2021 or even 2022 launch date. In 2017, Kuwait and the five …


Kuwait

Kuwait delays VAT till 2021

May 15th, 2018

Kuwait’s parliamentary committee has said today that the introduction of a 5% VAT regime has been delayed until 2021. The postponement is likely down to strong opposition, and the recovery of the crude oil price from $40 to almost $80 in the past year. The Gulf state will proceed with introducing 200 million dinars in …


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 to delay the implementation date for VAT until 2021.