Gulf states still committed to VAT but dates will vary, IMF says

Gulf states still committed to VAT but dates will vary, IMF says:

"All six countries in the Gulf Cooperation Council remain committed to introducing value-added tax, though they will do so at different speeds, a senior International Monetary Fund official said. “My feeling, through my interaction with the authorities, is that they are still committed and they are still preparing implementation,” Jihad Azour, head of the IMF’s Middle East department, said in an interview. Seeking to close budget deficits caused by low oil prices, GCC states have agreed to introduce VAT at a 5 percent rate in 2018 - a big step for governments that have traditionally levied little tax and relied instead on oil revenues."



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