Competency Development Institute holds GCC VAT explainer session

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 the GCC countries in 2018.
The session was held at the Oasis Club in Al Athaiba, and included three themes: Introduction on VAT in the GCC Countries, Taxes VS Corporate Governance and what to do, as well as lessons learned from VAT implementation.
Nadine Bassil, an expert in legal consultancy specialising in financial matters, explained that the session addressed the advantages and challenges of value added tax, especially financial and technical characteristics, adding that the session addressed experiences of other countries in VAT.