Oman

Oman 5% VAT September 2019

September 29th, 2018

Oman government representatives have said that the state is looking to implement a 5% VAT regime from 1 September 2019. In 2017, it signed the Gulf Cooperation Council VAT Framework Agreement. This included: Saudi Arabia, Qatar, UAE, Bahrain and Kuwait. Only Saudi Arabia and the UAE introduced VAT this year, as planned, but Bahrain is …


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 …


Oman

Oman delays VAT till 2019

December 25th, 2017

Oman has declared that it will not implement Value Added Tax until at least 2019. The delay has been proposed to allow more time for businesses to prepare for the launch of the new indirect tax. Tariffs on some goods, including cigarettes and carbonated drinks, will go ahead in 2018. The country is one of …


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 …


Oman

Oman

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 for Oman as they happen with VATlive. Oman have declared recently that it will not implement VAT until at least January 2019 despite facing further credit …


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 …


United Arab Emirates

Gulf VAT 7 planning issues

March 27th, 2017

From the 1 January 2018, the six Gulf Co-operation Council (GCC) states will implement 5% VAT.  The six countries are: Bahrain; Kuwait; Oman; Qatar; Saudi Arabia and the United Arab Emirates. Whilst legislation for the indirect tax has yet to be published, local businesses, and companies selling into the region, should review some of the …