Gulf States Introduce Customs, VAT Measures
Several members of the Gulf Cooperation Council -- including Saudi Arabia, Qatar and Bahrain -- introduced measures to amend or clarify their customs and value-added tax regulations, KPMG said in a March 9 post. Saudi Customs introduced a “self-correction program,”…
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which allows importers to voluntarily declare and pay duties for “any pending customs liability,” KPMG said. In addition, Qatar is expected to implement its VAT regime this year, the post said, and Bahrain issued guidance relating to how often its VAT payers must file certain tax documents.