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Unified Gcc Vat Framework Agreement

What other countries are going to do is not clear, but there is a possibility of different treatment of deliveries to these companies, based solely on the status of the recipient - this is perhaps quite complex. The treaty is sometimes referred to as a framework agreement, and that`s a good name – it defines the "wireframe" of a collaborative VAT system between GCC countries. It should be remembered, however, that this is a treaty and not a law, and is therefore essentially an agreement between countries. It`s not a document taxpayers can rely on per se – one has to comply with local implementing laws to find the exact mechanics of VAT in each country. At the time of the letter, only the Saudi VAT Bill (which is itself essentially a framework document with no details on what will be void or exempt in the contract) is available, but the details are starting to appear. . . .

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