Qatar - VAT expected to be introduced in 2018 or 2019
We have previously reported that the United Arab Emirates (UAE) will introduce VAT on the 1st of January 2018 at a rate of 5%. It has since been reported that Kuwait will also adopt the VAT system on this date.
Recent reports have said that Qatar is also expected to introduce VAT but it will be sometime between January 2018 and January 2019.
The VAT system will also be implemented sometime between January 2018 and January 2019 in Bahrain, Oman and Saudi Arabia.
Ivor Freerick, chair of the BDO International VAT Centre of Excellence has said that he expects the GCC countries will replicate a lot of the features of the European Union VAT system.
Businesses have been advised to start preparing now for these changes. If you need assistance, please get in contact.