VAT in United Arab Emirates, Saudi Arabia and Bahrain - Transitional Rules

Journal
GCC
International VAT Monitor 2019 (Volume 30), No. 1
VAT was introduced in the United Arab Emirates and Saudi Arabia on 1 January 2018, implementing the GCC VAT Unified Agreement. Bahrain introduced VAT on 1 January 2019. In this article, the author describes the transitional rules applicable to existing business contracts at the time of implementation of a new VAT system in those countries, based on the general provision concerning transitional rules under the GCC VAT Agreement.