Highlights
- Dec 4, 2021: Saudi-Arabia is the first country in the Middle East launching E-Invoicing, UAE may follow
- Bahrain will double its VAT rate from 5 to 10% per Jan 1, 2022
- Qatar and Kuwait did not yet implement VAT, will they do in 2022, 2023?
Reference material
- VAT Laws in the GCC – Links to the applicable laws
- GCC VAT Comparison Bahrain, KSA, UAE, Oman
- UAE: Overview of the 28 VAT Public Clarifications issued by the Federal Tax Authorities
- VAT Rates in
Check also the previous articles on ”Looking back @2021”
- Brexit
- E-Commerce VAT Directive launched in the EU per July 1, 2021
- Next to the EU, 14 countries implemented VAT on E-Commerce, another 7 will implement in 2022
- Saudi-Arabia is the first country in the Middle East launching E-Invoicing, UAE may follow
- The concept of Fixed Establishments remains a major risk, and even why?
- Intrastat: Major updates applicable as of Jan 1, 2022
- Implementation/changes E-Invoicing & Real Time Reporting during 2021
- ECJ cases decided in 2021 on ”Taxable Amount”
- 49 ECJ VAT Cases decided (incl. orders) in 2021
- Split Payments
- Poland and France to introduce optional taxation of Financial Services – Exemption may not longer be applied
- Activities of the VAT Expert Group
- ECJ cases decided in 2021 on ”Exemptions”
- Pre-Filled VAT returns
- SAF-T (or equivalent) regulations, some more countries will implement
- Environmental Tax – Will Plastic Tax stop pollution?
- VAT Grouping, a tool to avoid VAT leakage, optimize VAT receivables and simplify processes
- EU VAT Committee met twice and a proposal to transform it into comitology committee was discussed
- ECJ cases decided in 2021 on ”Right to deduct VAT/Refund of VAT”
- Global VAT rate changes, continuous monitoring needed
- Global overview of future e-invoicing, e-filing, real time reporting, SAF-T – Will the Big Bang in Europe start as of 2022?
