Gulf zero-rated VAT supplies
- Apr 22, 2017 | Richard Asquith
The six members of the Gulf Cooperation Council have confirmed the supplies which will be zero-rated for VAT purposes. This means they will be charged without VAT, but suppliers can reclaim any input VAT incurred.
The list includes:
- Oil & gas
- Domestic transportation
- Health services
- Real estate
- Basic foodstuff (with central approval)
The GCC states plan to introduce a harmonised 5% VAT regime from 1 January 2018.