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Kuwait News - Business, Taxation & Offshore


UAE Finalizes Adoption Of New VAT Framework

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, November 30, 2017

The Prime Minister of the United Arab Emirates has officially approved Regulations that set out rules for the value-added tax framework the country will adopt, alongside Saudi Arabia, from January 1, 2018.Read Full Story


Saudi Arabia Explains VAT Rules For Transport Sector

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, November 16, 2017

Saudi Arabia's tax authority has issued guidance on the value-added tax rules that will apply to transportation services when value-added tax is introduced from January 1, 2018.Read Full Story


IMF Urges Kuwait To Press Ahead With VAT

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, November 16, 2017

The International Monetary Fund has urged authorities in Kuwait to push ahead with the introduction of a value-added tax, having fallen behind the United Arab Emirates and Saudi Arabia, which are introducing VAT from January 1, 2018.Read Full Story


Saudi Arabia Readies For Value-Added Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, July 26, 2017

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


IMF Praises Saudi Tax Reforms

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, July 24, 2017

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


UAE To Exempt Residential Property From VAT

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, July 17, 2017

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


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