GCC Updates
Qatar
- Excise Tax and GTA Website Update
The Qatar General Tax Authority ('GTA') has redesigned the Tax website, allowing it to be operational in both English and Arabic. The website aims to provide vital information regarding any new taxes which may be implemented, particularly emphasizing the Excise Tax which has come into effect on January 2019.
The English version of the website can be accessed here
KSA (Kingdom of Saudi Arabia)
- Islamic Finance VAT Guide
The General Authority of Zakat and Tax ('GAZT') in KSA has published English version of the Islamic Finance VAT guide, which was previously only published in Arabic. This guide provides clarity on the treatment of Islamic Finance products, and provides detailed information regarding the nature of these products and their related transactions.
The Guide can be accessed here
Oman
- Excise Tax Implementation Update
With effect from 15 June 2019, Excise Tax would be implemented in Oman. Excise tax is levied on manufacture, import and storage of some excisable goods. Below mentioned are product wise rates of Excise Tax that shall be levied in Oman:
- Tobacco and Tobacco Derivatives - 100%
- Energy drinks (100%)
- Carbonated beverages (50%)
- Alcohol (100%)
- Pork meat (100%)
The Secretariat General for Taxation ('SGT') in Oman has recently published a guide on the implementation of Excise Tax, along with list of FAQs on the same subject matter.
The guide can be accessed here
The FAQs can be accessed here
Bahrain
- Tourist Refund Scheme ('TRS')
The Bahrain National Bureau for Revenue ('NBR') has added a new segment on their website regarding the TRS, which is designed to allow Bahrain visitors to recover a portion of the VAT paid on eligible purchases made in Bahrain.
The segment can be viewed here
- Imports and Exports - VAT Guide Update
NBR has updated imports and exports VAT guide which can be accessed by clicking here
13 Jun 2019
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
