Value Added Tax

Value Added Tax (VAT) application started in Gulf Council Countries. On 27 November 2016, GCC States signed Common VAT Agreement of the States of the Gulf Cooperation Council. Pursuant to the said Agreement, the six GCC States agreed to introduce the VAT at rate of 5% where each of the member States will set the implementation date.
In Kuwait, Ministry of Finance presented the Value Added Tax (VAT) implementation mechanisms to the National Assembly to decide whether to implement the same or not. If the bill is passed, Ministry of Finance will issue the Executive Regulations of the Law and announce the mechanisms to be followed by businesses to enforce the Law.
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