VAT to be introduced by Gulf states

Published on June 1, 2021

VAT to be introduced by Gulf states

GCC agreed to impose 5% VAT by 2018. However, this decision must be further approved.
The UAE Ministry of Finance also mentioned that some services will be exempt from VAT such as education and health care.
UAE estimates around Dh 10 to 12 billion revenue for the first year alone.
A day before the decision, Christine Lagarde – Managing Director of the International Monetary Fund – advised Gulf countries to introduce a harmonized VAT rate in order to increase their GDP without depending as much on oil prices, which are unlikely to go back to a $ 100 per barrel until at least 2017.


Take the lead on the issue of Internet governance and stewardship:

of our respondents reported that their organization is adopting new and emerging technologies faster than they can address related security issues.


Embed security into your
business architecture:

When security is a foundational requirement through the company’s value chain—from suppliers to customers—your business partner won’t become your greatest vulnerability. With this approach, security is not an “add-on” feature for products and services. That’s why CEOs should articulate a vision of “security-by-design” from the earliest stages of development.


Address the vulnerabilities of
Internet technology:

To some, the technical deficiencies of Internet infrastructure are the “elephant in the room.” But with the guidance that our research provides, business leaders can exert their influence to address these issues. Then the tech community can truly commit to strengthening not just security on devices, but also for networks and the Internet’s basic protocols.

The benefits of a secure, trustworthy Internet economy are clear.

CEOs have an opportunity to drive meaningful change today and develop a foundation of trust for tomorrow’s digital economy. Unfortunately, just one attack is all it takes to damage an organization.

The actions of CEOs—driving above ground and influencing below-ground—matter. By joining forces with other CEOs, public sector leaders and regulators, they can develop much-needed guidelines and oversight mechanisms. By protecting their own organization and extending protection through its value chain, they will safeguard the business ecosystem. By embracing and developing technologies that can advance their businesses and enhance digital safety, CEO engagement can drive a trust turnaround for the Internet and secure the future of the digital economy.

Share on