Impending VAT in the GCC: Much Still to be Clarified

states-42706_1280The slump in oil prices in the last few years has increased the pressure on the Gulf Cooperation Council (GCC) states (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) to seek more sustainable government revenues through taxation. Corporate income tax is currently the only direct tax imposed within the GCC, and even then Bahrain and the UAE only impose the tax on narrow sectors of the economy. Continue reading “Impending VAT in the GCC: Much Still to be Clarified”

2017 Index of Economic Freedom

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Source: 2017 Index of Economic Freedom, Interactive Heat Map (The Heritage Foundation) 

On 15 February, the Heritage Foundation published its annual report entitled, 2017 Index of Economic Freedom, comparing the performance of 186 economies. One key factor influencing the conclusions and rankings is the Tax Burden parameter of the Government Size performance measurement criterion. Continue reading “2017 Index of Economic Freedom”

Experts Convene at ITIC’s Middle East/North Africa Tax Forum

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Washington, DC – Regional tax administration officials, business leaders and tax experts convened this week in Ankara, Turkey, for the seventh annual Middle East/North Africa Tax Forum hosted by the International Tax and Investment Center, in cooperation with the Revenue Administration of the Turkish Ministry of Finance.

Continue reading “Experts Convene at ITIC’s Middle East/North Africa Tax Forum”