On November 27, 2016, a significant milestone was set in the chronicles of GCC financial governance:
This date marked the initiation of the Common Excise Tax Agreement of the States of the Gulf Cooperation Council (known as the “GCC Excise Tax Agreement”)
- International Position – Excise Tax on Luxury Goods
- Federal Excise Tax on Luxury Goods in the UAE
- Excise Tax Liability and Administrative Penalties
- Conclusion
Source: Habib Al Mulla & Partners
