The UAE Federal Tax Authority will release the UAE VAT and excise laws for 2018 by the end of September. Saudi Arabia’s VAT law was issued on July 28th and consultations on its VAT regulations are open until August 19th. The UAE issued a new tax law in July which establishes the Federal Tax Authority’s role and lays the groundwork for its new taxation system. Qatar approved its draft law on VAT and income tax in May and Kuwait is expected to follow soon. The director general of the UAE’s Federal Tax Authority stated that the UAE and Saudi Arabia are likely to implement the new tax in January 2018, while other Gulf countries will follow later in the year.
Source Meridian
