A unified tax regime may not be best solution for GCC | GulfNews.com:
"This report is a follow up on the VAT introduction in the UAE. I am not quite sure when this will take place, but a lot of speculation is going on about how this could be agreed upon and then implemented by all member-states of the Gulf Cooperation Council (GCC).
The fact is that it doesn’t have to be done this way. The report will discuss this topic in specific and in comparison with the case of the European Union, which has no unified tax system.
Let me first get one thing clarified. Though the report will be talking about VAT in specific, the argument stands for all taxes regardless of their nature. And before getting into the whole comparison process, one must highlight that a clear distinction needs to be drawn between fiscal and monetary policies to when it comes to any sort of economic union or bloc."
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