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Volume :46 Issue : 177 2020      Add To Cart                                                                    Download

Thoughts on the Value Added Tax (VAT) According to the Unified Convention of VAT for GCC Countries.

Auther : Dr. Ibrahim M. AL-Hamoud

The Goal of The Study: The study aims to legally define the VAT. Selecting this subject is attributed to the lack of specialized studies on this tax and to Kuwait willingness to enforce Common VAT Agreement of the States of the Gulf Cooperation Council soon.
Study Methodology: The study followed the integral analytical method in order to indicate the legal nature of the VAT, where it fits among other types of taxes, and how it is estimated in addition to weighing its advantages to disadvantages, ending with assimilating the constitutional legal control on imposing, amending or cancellation it considering that it belongs to the General Taxation field.
Complexity of the Study: The main complexity of the study is to define the legal nature of VAT, is it in-kind or personal Tax, is it Public or not, and if the creation of such tax, its amendment or cancellation requires enactment of law or it can be applied by relying on, or within the law through By-laws and resolutions.
Significance of the Study Subject: The significance of the study stems from the notion that the VAT became a real fact in the state of Kuwait.
Study Results and Recommendations:
-The necessity to create taxa awareness in the society.
- Organizing training programs for companies and Firms which shall be subject to the Value-added Tax.
- The need to train and qualify Kuwaiti Tax department staff to be familiar with the VAT due to the absence of previous experiences in Kuwait.
- A State Council should be established to be concerned with the settlement of taxation disputes, because the tax law is of a cancellation nature on one hand and of an integral one on the other.
- The need of International Experts assistance in building a developed Tax organ.
- Applying the agreement requires appointing large number of taxation staff and professionals in the business market.
Study Conclusion: The VAT as legislation is very soon to be applied in Kuwait as Kuwait actually signed the GCC Unified Tax Convention on 27/1/2016.

Keywords: Gulf Cooperation Council States, VAT Value-Added TAX, Personal TAX, Indirect TAX, TAX Rate, TAX Exemptions, In-Kind TAX.
 

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