GCC could introducing VAT in 2014: report
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GCC could introducing VAT in 2014: report

GCC could introducing VAT in 2014: report

The World Bank has said the GCC countries could implement a value-added tax (VAT) by as early as 2014, Saudi Gazette has reported. "The GCC countries continue with their endeavours to introduce a VAT system with a target for doing so in the next two to four years," the 'Paying Taxes 2013' study by World Bank, IFC, and PwC said. The preparation for VAT implementation across all Gulf nations includes an intention includes an intention to harmonise the VAT laws, which will be introduced by adopting a VAT framework law, the study said.

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