VAT in the GCC
"The environment for business is changing faster than at any time in recent history. Forces such as taxation reforms and rapid technological change are disrupting traditional business models and creating huge challenges for organisations, both privately owned and publicly listed.”
Stay ahead, and prepare for changes now.
In order to promote diversification, governments across the region have introduced various initiatives to reduce the dependency on oil generated incomes and further stabilize the economy.
As part of the stabilisation strategy, we have witnessed a number of regulatory changes, with the recent one being the introduction of Value-Added Tax (VAT), which was implemented as of 1 January 2018 across the GCC. Forces such as taxation reforms and rapid technological change are disrupting traditional business models and creating huge challenges for organisations, both privately owned and publicly listed.
At Grant Thornton, we offer a full suite of services to address the VAT challenge, which ensures that organisations remain ahead of the requirements within the UAE, along with supporting the impact which may occur across the wider GCC. Our VAT services help organisations throughout the full life cycle of indirect tax, whilst ensuring our technical experts apply their deep insights which have been gained from implementing and managing VAT in various jurisdictions.
Grant Thornton can help with:
- VAT compliance services
- Health checks and diagnostic reviews
- Advisory services
- Project management
If you have any questions or would like to find out more about how we can help please contact us.