The Unified Agreement for Value Added Tax (VAT) of the Cooperation Council for the Arab States of the Gulf.
The Kingdom of Saudi Arabia released the Unified Agreement for VAT in the Gulf Cooperation Council (GCC) in April 2017, setting out the principles under which the new tax system will be implemented in each of the GCC member states.
The text of the framework agreement has been published only in Arabic. However, for ease of reference, KPMG is pleased to present you with an English version of the framework agreement text, which has been translated directly from the original Arabic document.
Key points from the GCC VAT framework agreement
Each GCC member state (including Bahrain and Qatar) will now need to issue its’ own domestic legislation to locally implement VAT by 2018.
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