Global Tax 50 2016: The Gulf Cooperation Council (GCC)

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Global Tax 50 2016: The Gulf Cooperation Council (GCC)

The Cooperation Council for the Arab States of the Gulf

 The Gulf Cooperation Council (GCC)

The Gulf Cooperation Council (GCC) is a new entry this year

A new entrant for this year is the Gulf Cooperation Council (GCC), which is changing the tax landscape of the Middle East forever.

The council is made up of six member states, namely the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait. It was established in 1981 to join the six states in a framework fostering effective coordination, integration and inter-connection in all fields in order to achieve unity, according to Article 4 of the GCC Charter.

In 2016, the member states finally agreed to introduce a VAT regime to plug revenue gaps created from the fall in oil prices. Over the year, a multilateral agreement was concluded in principle to implement VAT, and each country has worked towards developing the structure, compliance requirements and rates of the new VAT regime. This big change has put the GCC firmly on the tax map and in this year's Global Tax 50. But this is only the beginning. Businesses worldwide are paying attention to what is happening as this VAT regime may be the first of several tax regimes that could be introduced in the region over the coming years to sustain tax revenues.

So far this year, all six member states have committed to introducing VAT from January 1 2018, at a rate of 5%. All member states will have a VAT by the beginning of 2019 and companies are gearing up for the change.

The progressive implementation of VAT throughout the GCC from January 1 2018 marks the "start of some of the most exciting, dramatic and far-reaching socioeconomic changes in the region since the discovery of oil reserves in commercial quantities during the 1960s", said Justin Whitehouse, Deloitte Middle East indirect tax leader.

The Global Tax 50 2016

View the full list and introduction

The top 10 • Ranked in order of influence

1. Margrethe Vestager

2. The International Consortium of Investigative Journalists

3. Brexit

4. Arun Jaitley

5. Jacob Lew

6. Antoine Deltour and Raphaël Halet

7. Operation Zealots

8. Guy Verhofstadt

9. Theresa May (and the 'three Brexiteers')

10. Donald Trump

The remaining 40 • In alphabetic order

Kemi Adeosun

Piet Battiau

Elise Bean

Monica Bhatia

Allison Christians

Tim Cook

Rita de la Feria

Caroline Flint

Judith Freedman

Chrystia Freeland

Pravin Gordhan

Orrin Hatch

Meg Hillier

Mulyani Indrawati

Lou Jiwei

Paul Johnson

Stephanie Johnston

Chris Jordan

Pravind Jugnauth

Wang Jun

Jean-Claude Juncker

Kathleen Kerrigan

Christine Lagarde

Werner Langen

Jolyon Maugham

Angela Merkel

Narendra Modi

Will Morris

Michael Noonan

Grace Perez-Navarro

Platform for the Collaboration on Tax

Donato Raponi

Pascal Saint-Amans

Heather Self

Robert Stack

Tax Justice Network

The Gulf Cooperation Council (GCC)

Transparency International

US Committee on Ways and Means

Rodrigo Valdés



more across site & shared bottom lb ros

More from across our site

Reckitt Benckiser is to divest its Essential Home business, which includes more than 70 brands, to private equity firm Advent International
In the first of a new series of weekly opinion pieces, ITR Editor Tom Baker reflects on the OECD’s attempts to sanitise the US’s brazen pillar two negotiations
The threat of 50% tariffs on Brazilian goods coincides with new Brazilian legal powers to adopt retaliatory economic measures, local experts tell ITR
The country’s chancellor appears to have backtracked from previous pillar two scepticism; in other news, Donald Trump threatened Russia with 100% tariffs
In its latest G20 update, the OECD also revealed tense discussions with the US where the ‘significant threat’ of Section 899 was highlighted
The tax agency has increased compliance yield from wealthy individuals but cannot identify how much tax is paid by UK billionaires, the committee also claimed
Saffery cautioned that documentation requirements in new government proposals must be limited if medium-sized companies are not exempted from TP
The global minimum tax deal is not viable without US participation, Friedrich Merz has argued
Section 899 of the ‘one big beautiful’ bill would have spelled disaster for many international investors into the US, but following its shelving, attention turns to the fate of the OECD’s pillars
DLA Piper’s co-head of tax for the US and Latin America tells ITR about her fervent belief in equal access to the law, loving yoga, and paternal inspirations
Gift this article