{"id":413,"date":"2017-01-31T14:49:07","date_gmt":"2017-01-31T14:49:07","guid":{"rendered":"https:\/\/saudiexpatriate.com\/?p=413"},"modified":"2017-01-31T15:07:09","modified_gmt":"2017-01-31T15:07:09","slug":"value-added-tax-vat-applied-gcc-states","status":"publish","type":"post","link":"https:\/\/saudiexpatriate.com\/value-added-tax-vat-applied-gcc-states\/","title":{"rendered":"Value Added Tax (VAT) to be applied in GCC states"},"content":{"rendered":"

Custodian of Two Holy Mosques King Salman of Saudia Arabia<\/strong> along with Council of Ministers came out with an agreement to levy Value Added Tax (VAT)<\/strong> and few taxes on GCC (Gulf Cooperation Council) States.<\/p>\n

GCC is composed of Kuwait, Bahrain, Qatar, Oman, Saudi Arabia<\/em><\/span><\/strong> and the United Arab Emirates (UAE)<\/strong><\/em><\/span>.<\/p>\n

\"Value<\/p>\n

In Saudi Budget 2017 it was recommended that a 5% VAT will be charges without any changes in prices. All the six GCC countries have agreed to the implementation of Value Added Tax (VAT)<\/strong> and selective taxes for Energy Drinks, Soft Drinks and Tobacoo this year.<\/p>\n

Earlier there was no VAT system<\/strong> at all in Saudi Arabia, but 2018 will be the year VAT Taxes will be applied in Saudi.<\/p>\n

Introduction of a VAT in the kingdom will be one measure to strengthen the indirect tax structure.<\/p>\n

You can red more details on How does VAT work in Saudi Arabia<\/strong><\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Custodian of Two Holy Mosques King Salman of Saudia Arabia along with Council of Ministers came out with an agreement to levy Value Added Tax (VAT) and few taxes on […] 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of Two Holy Mosques King Salman of Saudia Arabia along with Council of Ministers came out with an agreement to levy Value Added Tax (VAT) and few taxes on […] 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