The Governments of the Gulf Cooperation Council (GCC) could increase VAT
- 22/04/201711/12/2019
- by Benjamin Filaferro
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A senior economist has said the Governments of the Gulf Cooperation Council (GCC) could increase VAT from 5 to 10% by 2020. In addition, the Governments of Bahrain, Kuwait, Oman and Saudi Arabia are looking at introducing a 10% tax on business profits. Qatar already has this type of tax and the UAE imposes 20% on the profits of foreign banks.
Benjamin Filaferro