PPRuNe Forums - View Single Post - VAT could double to 10% in some GCC countries.
Old 29th Jan 2018, 13:44
  #9 (permalink)  
Trader
 
Join Date: Apr 1999
Location: South of North
Posts: 655
Likes: 0
Received 0 Likes on 0 Posts
The concept of 'remittance' tax has been in the new several times over the last several years. It is also an easy tax to implement - Any financial institution simply applies it during a conversion, a defacto collection. Interestingly enough it was just over a year or so ago that the exchange houses began requiring passport/ID info for exchanges.

I would also guess that in the case of a remittance tax it will implemented with no notice to avoid large transfers that would occur if people knew it was coming.
Trader is offline