Value Added Tax (VAT) System


Pursuant to the unified GCC VAT agreement, each member state should establish its own separate regulation concerning the VAT.


As such, UAE and Saudi Arabia introduced VAT on January 1, 2018.


Furthermore, Bahrain became the third GCC state which introduced the VAT system effective January 1, 2019 at the rate of 5% including but not limited to intellectual property services.


While Oman and Kuwait have also announced that VAT system will be implemented before end of the year 2019 or early 2020.


On a different note, the Ministry of Finance has increased VAT standard rate in Tunisia from 18% to 19%.


Therefore, all official and service fees related to intellectual property have been affected and slightly increased by 1%.

Read 3464 times