VAT or value-added tax is a tax levied on the consumption of services and goods. Currently, it has been set at 5 percent in all the GCC countries and is seen to be the lowest levy across the globe. There are countries that charge a VAT that is as high as 20 percent.

The tax gets levied across all stages present in the supply chain. This means that each business present at each point of the chain will get taxed – from the manufacturer, wholesaler, to the retailer. But there are

It is highly refreshing to note that there is an increase in the number of small businesses across GCC countries. But even as more people continue to venture into the world of business, accounting continues to be a major problem for many startups. Accounting is one of the numerous back-office tasks you never get the chance to think about when you decide to venture into business. This is despite the fact that it is an integral part of your business, which can make it very hard to be successful. But