The Federation of GCC Chambers has called on the governments of member countries for gradually implementing value added tax (VAT) to minimise its impact on the private sector.
The recommendation was made in a workshop on “impact of removing and redirecting of government support and imposing VAT on GCC private sector” held at Bahrain Chamber of Commerce and Industry. The workshop also recommended launching an initiative to educate the private sector and citizens in details about the mechanism for implementing VAT targeted sectors and its impact on business environment. It was also recommended the VAT should not be imposed on imported goods at customs checkpoints.
