Kuwait Lifting Fuel Subsidies, Adopting Tax Reform

• Monday, 21st December 2015
• by Egypt Oil & Gas

Kuwait’s government has decided to lift fuel subsidies and apply new water and electricity consumption prices, while postponing an official announcement, until the Ministry of Commerce and Industry designs an ef...

GCC to Introduce VAT by 2018

• Tuesday, 8th December 2015
• by Egypt Oil & Gas

The Gulf Cooperation Council (GCC) states have agreed to introduce value-added tax in the region by 2018 subject to the signing of a final agreement, the UAE’s Finance Ministry informed, according to Al-Arabiya....

GCC VAT Moves Delayed but UAE Forging Ahead

• Wednesday, 19th August 2015
• by Egypt Oil & Gas

“An immediate announcement will be made once a final agreement on imposing a VAT law is reached,” said the UAE’s Finance Ministry in a statement quoted in The National. The draft VAT originally agreed to by the ...