Gulf states agree to push value-added tax project with oil low | GulfNews.com:
"Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working towards the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea.
A meeting in Doha of the GCC’s Financial and Economic Cooperation Committee adopted a draft agreement on VAT which will be endorsed by member governments, Kuwaiti state news agency KUNA quoted Kuwait’s Minister of Finance Anas Al Saleh as saying on Saturday.
Introducing VAT, also known as sales tax, would be a big economic reform for the wealthy Gulf oil exporting states, and politically sensitive because their populations have become used to lavish social welfare spending and near-zero taxation.
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