Global Illicit Trade Forum addresses the issue in GCC countries
At the beginning of 2018 Saudi Arabia and the United Arab Emirates introduced VAT for the first time, set at a rate of 5%. This was part of an effort to diversify government revenue with other Gulf Cooperation Council (GCC) countries set to impose a similar tax in due course. In addition to this, certain products classed as ‘harmful’, such as tobacco and energy drinks, are being singled out to face a huge 100% tax levy in these countries.Find the right professional using the below dropdowns. Our reach covers the globe with a network of over 300 offices.
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