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Articoli Correlati: VAT

Thanks to the regional agreement signed by all the Gulf Cooperation Council countries, VAT is entering the Middle East area. The United Arab Emirates and Saudi Arabia were the first countries to apply VAT from 1^st January 2018. Bahrain will implement the VAT from 1^st January 2019, Oman from 1^st September 2019. Qatar and Kuwait must still announce the dates of entry into force of the new tax regime. The change will also affect “Italy”: the flow of import-export with the Gulf countries is worth € 20 billion a year, with about 12,000 enterprises concerned, who will have to prepare for the change with VAT. The common VAT agreement, known as the “framework agreement”, will henceforth be a reference document for the region, its economies and markets.