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”

The Basis for the Harmonization of VAT and Excise Taxes in SADC

The Southern African Development Community (SADC) aims to become a Free Trade Area, Customs Union, Common Market, and Monetary Union through the introduction of the single currency, with support for regional integration by Member States utilizing the basic elements of fiscal policy coordination and harmonization.

Continue reading “The Basis for the Harmonization of VAT and Excise Taxes in SADC”