Value-Added Tax (VAT) is coming to the GCC in 2018. This will undoubtedly have a direct impact on business operations across the region. Is your business ready for the change?
What is VAT?
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of general consumption tax that is collected incrementally, based on the surplus value, added to the price on the work at each stage of production, which is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer.