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69 Tax Executive 63 (2017)
Introducing VAT in the Gulf States

handle is hein.journals/taxexe69 and id is 465 raw text is: Introducing VAT in the Gulf States IMP iers By Gorka Echevarria Zubeldia he Gulf Cooperation Council (GCC), which comprises the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait, has decided that its member countries will implement a value-added tax (VAT) system by 2018. This decision was adopted in the context of a dramatic drop in recent years in the oil revenues that finance most of these countries' public expenditures. The news of the forthcoming introduction of a five percent VAT in the Gulf region has plunged the VAT world into turmoil. The GCC has enacted the Unified GCC VAT Framework Agreement (GCC VAT framework) that lays the groundwork for its members to imple- ment VAT in their respective jurisdictions. November/December 2017 [ Tax Executive 83

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