VAT IN THE GCC: 5 YEARS ON, WHAT'S ON THE HORIZON?

The recent years have seen transformative shifts in the tax regulatory framework of the GCC, with four of its six member states—UAE, KSA, Bahrain, and Oman—successfully adopting VAT. This has led to a noticeable increase in government revenue over the past half-decade. The whitepaper delves into these changes, emphasizing the need for strengthening tax administration and the firm progression towards digitalizing tax processes. This shift mirrors a global trend of leveraging technology for better fiscal management. By adopting digital approaches, the GCC is paving the way for more modern and efficient tax practices. The paper also sheds light on the growth areas and upcoming tax requirements in the GCC tax landscape, offering essential insights for anyone looking to understand and adapt to these significant developments.

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