MANAMA: The active participation of the private sector in implementing value-added tax (VAT) across the region will help GCC countries to enforce a uniform tax regime at the rate of five per cent by 2018, according to the participants of a major forum.
The experts and the stakeholders from the GCC were speaking during a forum hosted by Bahrain Chamber of Commerce and Industry in co-operation with the Federation of the GCC Chambers of Commerce on the effect of VAT implementation and lifting of subsidies by the governments across the region .