At the beginning of 2016, GCC governments announced that value-added tax (VAT) was going to be introduced in the near future. A few months on, the conversation has moved forward and a go-live date of January 1, 2018, has been confirmed.
In light of these developments, the conversation around taxation and its ramifications has become more intense. From ‘if’ and ‘when’, the focus has shifted to ‘how’, with businesses wondering what the thresholds will be, how the tax will be designed, what timeframes will be set for VAT refunds, what exemptions will be put in place, and what they need to do in order to be prepared.
Thomson Reuters' Taxation in the GCC provides an in-depth look at the prevalent market conditions and addresses the corporate community’s most pressing questions. In addition to examining the need for taxation, the report details exactly how VAT works, the challenges that both administrations and corporations face in a VAT rollout situation. Most importantly, it highlights the case for tax technology – why do companies need a tax technology; how can technology help; and, what should a sound tax technology provide?
To download the report, please complete the form to the right
