VAT Overview

GCC (Gulf Co-operation Council) countries have agreed ‘in principle’ to the GCC VAT Agreement to levy VAT (Value Added Tax) in the region. This will help the region to reduce their dependence on oil and other hydrocarbon products as a source of revenue. It is agreed by all the GCC countries that VAT will be introduced in every country latest by 1st January 2019. However, KSA & UAE decided to implement VAT January 1, 2018.