As of February 2017, all Gulf Cooperation Council (GCC) countries have signed the Unified Value Added Tax (VAT) Agreement. The framework will form the basis for national legislation, which will be introduced in each GCC country.  Although there has been very limited official information released regarding the specifics of how the VAT system to be introduced will operate, the expectation is that the GCC Countries will replicate a lot of the features of the European Union VAT System.

In the latest Special Market Report from Horwath HTL, Kim Drubbel, Managing Director of Horwath HTL UAE and Oman, explores whether the introduction of VAT might be a limitation for the industry and not in the interest of the sector's sustained growth prospects.

About Horwath HTL

Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.

For more information, please visit www.horwathhtl.com.

Sophie Rayner
Global Marketing Manager
Horwath

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