Session on VAT in GCC held

MUSCAT: The Competency Development Institute at the Diwan of Royal Court on Monday held a session on Value Added Tax (VAT) in the GCC countries with a view to identifying VAT, taxes and corporate governance, important revenues resulting from the application of the tax in a number of GCC countries in 2018. The session, held at the Oasis Club in Al Athaiba, included three themes: Introduction on VAT in the GCC countries, taxes vs Corporate Governance, as well as lessons learned from VAT implementation. Nadine Bassil, an expert in legal consultancy specializing in financial matters, explained that the session addressed the advantages and challenges of value added, especially financial and technical characteristics, adding that the session addressed experiences of other countries in value added. — ONA