Differing rates of VAT across the GCC are complicating intra-regional trade and adding costs to exporters and importers, according to experts.
The six-member bloc in 2016 signed an agreement to levy 5 percent VAT on the sale of goods and services within their respective countries.
Saudi Arabia and the UAE were the first to implement VAT, in January 2018, while Bahrain and Oman followed suit in 2019 and 2021 respectively. Qatar and Kuwait have yet to do so.
- VAT Explained
- Cashflow
Source: Arabian Gulf Business Insight
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