Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Gcc Vat Initial Steps Towards Implementation PDF full book. Access full book title Gcc Vat Initial Steps Towards Implementation.
| Author | : J. Whitehouse |
| Publisher | : |
| Total Pages | : |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
The introduction of VAT in the Gulf Cooperation Council (GCC) member states marks the start of some of the most far-reaching changes in the region since the 1960s. The article discusses how companies can successfully prepare for the tax.
| Author | : ZAHID FAROOQ |
| Publisher | : ZAHID FAROOQ |
| Total Pages | : 347 |
| Release | : 2021-08-29 |
| Genre | : Business & Economics |
| ISBN | : 9692362701 |
This is a comprehensive book that focuses on the explanation of VAT, classification and description of supply of taxable and non-taxable goods or services, registration method and key documents and each element is cross-referenced with the Oman VAT Law and Executive Regulations. This book also includes practical Case Studies which explains the VAT transactions in detail. Furthermore, each chapter and topic include a specific Compliance Focus segment that summarizes the main points for easier understanding. Moving forward, tax treatments according to the industries are also explained in this book. The formulas to calculate the complex VAT values are also provided in the relevant chapters.
| Author | : Katherine Wolff |
| Publisher | : Bloomsbury Publishing |
| Total Pages | : 175 |
| Release | : 2024-01-25 |
| Genre | : Political Science |
| ISBN | : 0755650409 |
How do Middle East energy transitions fit into international energy markets? In this book, energy analysts, geopolitical experts and specialists of political economy examine the new energy potential in the Middle East. The particular focus surrounds how the region's access to finance, combined with the new global regulations and considerations of economic development, shape the region's energy transitions overall. The Middle East is revealed to be a key site of new energy production, sharing and transmission as well as technology innovation. At the same time, the authors examine the variables that determine the success in each country and energy source, including the advantages that hydrocarbon producers will have in renewables and transition fuels, and the risk that these might slow down the energy transition overall. In doing so, the book situates the energy transition in the Middle East in a broader context of economic development, financing models, and regulations, and explains how this context interacts with the development of new energy sources. Energy Transitions in the Middle East is an account of the challenges Middle Eastern states will face in navigating the global energy transition, as well as their key areas of opportunity.
| Author | : Richard Thompson Ainsworth |
| Publisher | : |
| Total Pages | : 31 |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
It seems reasonably clear that by January 1, 2018 events will be set in motion for the adoption of a community-wide 5% value added tax (VAT) in the six Member States of the Gulf Cooperation Council (GCC). The GCC's Framework VAT document is expected to be published by the end of October 2016. One of the clearest, consistently placed observations is that the Arabian VATs will be destination-based and modeled on a European credit-invoice design. Intra-Gulf business-to-business (B2B) transactions will be effectively zero-rated by the supplier, and the buyer's VAT will be directed to the destination jurisdiction. It is not clear if the mechanism directing this deposit to the destination jurisdiction will be through customs agents, a buyer's reverse charge procedure as in the EU, or a seller's remission of VAT directly (or indirectly) to the foreign treasury through a one-stop-shop. The lack of clarity on this final element does not detract from the “true ring” of the other observations. This paper drills down to the next level. How (exactly) will (or should) the Arabian VATs intra-Gulf zero-rating in goods be implemented? Will the same mechanism be used for intra-Gulf and extra-Gulf tradable services? There is neither public commentary, nor private statements on the issues raised by this implementation question, but the warning flags are up. The procedures adopted by the EU to implement its zero rating/reverse charge mechanism have been the core structural problem underpinning the EU's struggle with MTIC and MTEC frauds. Will the GCC follow suit, or have they found another/better way? There are indications that the GCC may just have found a better way forward, and it will be implemented. There are two traditional approaches to crafting statute that will put in place a zero rate regime for cross-border transactions within a community - (a) the customs-controlled approach, and (b) two accounting-controlled approaches (a reverse charge or a one-stop-shop). Currently there is (c) a technology-controlled (real-time) implementation for each of these regimes. This paper contends that the Arabian VATs will benefit from history, and they are ideally positioned to show the VAT community how to use real-time technology to solve some of its most difficult cross-border trade problems. A common example will assist throughout this paper.
| Author | : International Monetary Fund. Middle East and Central Asia Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2017-04-10 |
| Genre | : Business & Economics |
| ISBN | : 147559352X |
This Selected Issues paper discusses measures required to enhance nonhydrocarbon revenue to support fiscal consolidation in Qatar. Qatar depends heavily on the hydrocarbon sector for exports and revenue receipts. The authorities have embarked on fiscal consolidation, underpinned by cuts to current expenditures and enhanced efforts to raise additional revenue. Safeguarding Qatar’s wealth to ensure intergenerational equity and ensure adequate resources for the implementation of the second National Development Strategy would entail increased mobilization of nonhydrocarbon revenue in the near to medium term. Exploring other sources of tax revenue to diversify the government revenue structure and build a stable tax revenue base is also critical.
| Author | : M.K. oğlu Majidli |
| Publisher | : |
| Total Pages | : |
| Release | : 2018 |
| Genre | : |
| ISBN | : |
In this article, the author discusses the effect that the Gulf Cooperation Council member states' introduction of VAT has had on businesses.
| Author | : Oxford Business Group |
| Publisher | : Oxford Business Group |
| Total Pages | : 312 |
| Release | : 2016-10-17 |
| Genre | : |
| ISBN | : 1910068683 |
Financial services in particular is one non-oil area where the emirate is starting to pull ahead, with recent growth in the Islamic financial services segment fuelling the emirate's ambition of becoming the knowledge-based capital of the Islamic economy in the future. Meanwhile, Dubai's real estate and construction sectors, which were badly affected by the 2008 financial meltdown, are once again thriving as the legacies of the global crisis recede, and the debts incurred from that time are repaid and restructured. Indeed Dubai is now firmly focused on the future, with preparations for Dubai Expo 2020 in particular helping nourish its economic recovery, development and growth in recent years. The event is expected to attract 25m visitors over a six-month period and the build-up is driving development across several sectors. The preparations,
| Author | : Robert E. Looney |
| Publisher | : Routledge |
| Total Pages | : 462 |
| Release | : 2018-10-03 |
| Genre | : Political Science |
| ISBN | : 1351046934 |
International trade has, for decades, been central to economic growth and improved standards of living for nations and regions worldwide. For most of the advanced countries, trade has raised standards of living, while for most emerging economies, growth did not begin until their integration into the global economy. The economic explanation is simple: international trade facilitates specialization, increased efficiency and improved productivity to an extent impossible in closed economies. However, recent years have seen a significant slowdown in global trade, and the global system has increasingly come under attack from politicians on the right and on the left. The benefits of open markets, the continuation of international co-operation, and the usefulness of multilateral institutions such as the World Trade Organization (WTO), the International Monetary Fund and the World Bank have all been called into question. While globalization has had a broadly positive effect on overall global welfare, it has also been perceived by the public as damaging communities and social classes in the industrialized world, spawning, for example, Brexit and the US exit from the Trans-Pacific Partnership. The purpose of this volume is to examine international and regional preferential trade agreements (PTAs), which offer like-minded countries a possible means to continue receiving the benefits of economic liberalization and expanded trade. What are the strengths and weaknesses of such agreements, and how can they sustain growth and prosperity for their members in an ever-challenging global economic environment? The Handbook is divided into two parts. The first, Global Themes, offers analysis of issues including the WTO, trade agreements and economic development, intellectual property rights, security and environmental issues, and PTAs and developing countries. The second part examines regional and country-specific agreements and issues, including NAFTA, CARICOM, CETA, the Pacific Alliance, the European Union, EFTA, ECOWAS, SADC, TTIP, RCEP and the TPP (now the CPTPP), as well as the policies of countries such as Japan and Australia.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2012-06-18 |
| Genre | : Business & Economics |
| ISBN | : 1475504586 |
The 2012 Article IV Consultation discusses the economic outlook for Kuwait for 2012, which is broadly positive. Economic recovery is expected to strengthen, led by high government expenditure—particularly wages and capital expenditure. High fiscal and external surpluses are expected to persist. Inflation is projected to moderate slightly owing to a decline in global food inflation. The authorities are encouraged to continue to be vigilant regarding existing and emerging risks, enhance investment companies’ (ICs) supervision, and develop the needed tools for ICs resolution.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2003-03-12 |
| Genre | : Business & Economics |
| ISBN | : 1451801106 |
This 2002 Article IV Consultation highlights that despite lower oil revenue, the United Arab Emirates economy performed relatively well in 2001. The external current account surplus remained large, even though average oil prices declined by 12.6 percent to US$23.78 per barrel, leading to a loss in oil export receipts equivalent to 5 percent of GDP. Real GDP grew by about 4 percent, as a number of projects were launched in construction, electricity and water, and downstream oil sectors.
