Gulf States Mull Introducing VAT, Say Reports
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The icing on the cake is To stay updated on all unlimited beverages with all meals starting latest news, follow the Facebook live entertainment will berds. provided by fellow burger enthusiast, Ms. Nathalie tps://www.facebook. rom 8pm onwa event page: ht Karlsson f com/events/894668553961074/ AMELIA’S TANGY BREAKFAST DELIGHT Page 11 Weekender 8P14 copy DT News Network that discussions had stalled as Manama country leaders had been unable s reports about the to agree on the terms and details dissents among the Gulf of such a tax, and because it’s CooperationA Council (GCC) politically sensitive. A good source of iron countries on the introduction of Nauman Ahmed, partner and folate like green value added tax (VAT) emerged, and regional tax leader at peas is important for financial consulting firm Deloitte Middle East, said: healthy blood cells. Deloitte urged GCC nations to “Faced with a need to raise ‘TAX’Gulf states mull introducingING! VAT, say reports introduce VAT yesterday. additional government On Tuesday, Reuters had revenues, implementing a VAT quoted the Ministry of Finance would be a rational response of the United Arab Emirates by government. That is not to that “UAE is studying a say that the implementation of proposal to impose VAT but its corporate or personal income introduction has been delayed tax can be ruled out; rather it by a lack of agreement among is a reflection on the fact that a neighbouring countries on rates VAT seems to “tick more of the and exemptions.” boxes” than the others.” “If the GCC countries reach a He added: “Compared to final agreement on issues related a VAT, a corporate income to the application of VAT, it tax is more likely to act as a will be announced directly,” the disincentive to businesses Ministry said. But it did not considering investment in elaborate on when agreement the region and hence more might be reached. negatively impact GDP growth. The six oil exporting states A personal income tax presents of the GCC have been studying an obvious challenge to the ‘tax- the introduction of VAT for free’ branding that has served years.