Gulf tax landscape ushers in a new era
To:
Al-Monitor Pro Members
From:
Sebastian Castelier
Business journalist covering Gulf economies
Date:
Dec. 27, 2022
Bottom Line:
The introduction of value-added tax systems across four Gulf countries since 2018 has been the first step of a gradual changeover in the Gulf states’ branding as low-taxed jurisdictions, so-called tax havens. The upcoming corporate tax in the United Arab Emirates (UAE) and talks about the Gulf’s first income tax in Oman confirm the trend: businesses and individuals will be pressed into service to jumpstart economies decoupled from oil prices.