Saudi Arabia has released draft regulations for the introduction of value-added tax for consultation, following recent approval of the tax framework from lawmakers.Read Full Story
Saudi Arabia has received praise for the International Monetary Fund for recent and planned indirect tax reforms, to broaden the tax base away from oil, but said the timetable for introducing value-added tax could be challenging.Read Full Story
The United Arab Emirates' Ministry of Finance has confirmed that residential property will be exempt from the Gulf Cooperation Council value-added tax when it comes into force in January 2018, but that a five percent rate will apply on sales or leases of commercial property.Read Full Story
Kuwait became the 110th jurisdiction to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on May 5, 2017.Read Full Story
Qatar's Cabinet has approved the introduction of value-added tax at a five percent rate, as part of an initiative among Gulf Cooperation Council states.Read Full Story
The Governor of Kuwait's Central Bank has said he opposes calls to introduce a remittance tax in the country, saying that the measure would damage its economy and financial reputation.Read Full Story
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