VAT News

GCC-Kuwait to postpone VAT implementation

It has been announced that the parliament budget committee of Kuwait has confirmed that the implementation of VAT in the country will be postponed until 2021.

Under the GCC VAT framework, the 6 member states were expected to implement VAT from 1 January 2018, however to date only Saudi Arabia and the UAE have done so, with indications that other states will now implement the tax from late 2018 or early 2019.

Instead of VAT, Kuwait will press ahead with plans to implement an excise tax on selected products.

Related articles

COVID-19 VAT Cashflow Tips (Part One)

COVID-19 is affecting business in ways no one thought possible. In order to free yourself from the burden of cashflow worry, we’re trying to do our bit to advice you on ways you can inject income into your bottom line.

Read more
HMRC Postpones Phase 2 Making Tax Digital Till April 2021

April 1 2020, was meant to be the date that HMRC launched phase II of making Tax Digital across the UK. However, due to COVID-19, they have made the decision to postpone the rollout by one year to April 1 2021. 

Read more
Coronavirus: Tax provisions and Easements by Country 

A country-by-country breakdown of the tax provisions and easements being implemented by individual country tax authorities.

Read more