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New VAT Implications Impacting The Region – Key Measures To Consider For Insurers In The GCC


It is crucial for businesses to start the preparation process early, as an understanding of the potential impact of VAT on the business will reduce friction in the ongoing process. VAT liabilities are generally self-assessed, with errors often leading to harsh penalties, time-consuming interactions with local tax authorities, or business disruptions.

Raghad Hammad, Senior Associate at BSA's Dubai office wrote on thedebut of VAT inthe GCC in 2018 and the implications on the Insurance industry.
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