Gulf Cooperation Council News

Bahrain Commits To Introducing VAT This Year

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, February 28, 2018

Bahrain has committed to pushing towards the introduction of the Gulf Cooperation Council's value-added tax framework by the end of the year. Read Full Story

Saudi Arabia Legislates To Absorb VAT On Education

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, January 12, 2018

Saudi Arabia's tax agency has set out the arrangements through which Saudi nationals will not bear the value-added tax that must be charged on education services under the Gulf Cooperation Council's harmonized value-added tax, which was introduced from January 1, 2018. Read Full Story

Saudi Confirms VAT Rules For Hire-Purchase Contracts

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, January 8, 2018

On January 3, 2018, Saudi Arabia's tax agency announced an exemption from VAT for lease-to-own and rent-to-own contracts of assets (for example for automobiles or real estate) delivered before January 1, 2018. Read Full Story

United Arab Emirates, Saudi Arabia Introduce Value-Added Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, January 1, 2018

Having introduced value-added tax on January 1, 2018, the United Arab Emirates and Saudi Arabia became the first two states of the six-member Gulf Cooperation Council grouping to follow through on the bloc's commitment to introduce a harmonized value-added tax. Read Full Story

Bahrain To Begin Levying GCC's Selective Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, December 28, 2017

Bahrain's Cabinet has approved the introduction of the Gulf Cooperation Council's so-called selective tax on unhealthy commodities from December 30. Read Full Story

Oman Confirms No VAT In 2018

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, December 27, 2017

Oman has officially stated it will not be joining the United Arab Emirates and Saudi Arabia in introducing the agreed Gulf Cooperation Council value-added tax until at least 2019. Read Full Story

IMF Reports On Middle East's Fiscal Challenges

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, December 21, 2017

The International Monetary Fund has published a new paper on the fiscal consolidation challenges being faced by the members of the Gulf Cooperation Council – Kuwait, Qatar, Oman, Saudi Arabia, Bahrain, and the United Arab Emirates – whose tax revenues have been depressed due to persistently low oil prices. Read Full Story

Saudi Arabia Clarifies VAT On Electronic Services, E-Commerce

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, December 15, 2017

Saudi Arabia's tax agency has released a statement clarifying that all electronic sales and purchases are to be subject to the standard five percent value-added tax rate, with due amounts to be collected by the Customs Authority at the port of entry. Read Full Story

Australia Seeking To Expand FTA Network

by Mary Swire, Tax-News.com, Hong Kong

Friday, November 24, 2017

The Australian Government has said that it intends to extend its network of free trade agreements, as part of its new foreign policy agenda. 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

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