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Energy-rich Gulf states say goodbye to their tax-free reputation

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A man inspecting shisha pipes at a shop in Kuwait City. The UAE and Saudi Arabia have said that they will implement VAT from Jan 1, 2018, while the other GCC states of Bahrain, Kuwait, Oman and Qatar are expected to follow suit during the year.

Dubai

HARD-HIT by a drop in oil income, energy-rich Gulf states will next year introduce value-added tax (VAT) to a region long known for being tax-free.

Some have hailed introducing VAT as the start of "exciting, dramatic" changes in the region, but the measure is also expected to...

sentifi.com

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