Saudi Arabia and UAE introduce VAT on New Year's Day

  • World Premium

  • Monday, 01 Jan 2018

A file pic of Riyadh, Saudi Arabia - Reuters

PETALING JAYA: Saudi Arabia and the United Arab Emirates were the first countries in the Gulf Cooperation Council (GCC) to implement Value Added Tax (VAT) on Jan 1, 2018.

VAT is another name for the Goods and Services Tax (GST), which Malaysia implemented on April 1, 2015.

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