VAT is coming: a historic change and leap into the unknown on January 2, 2017The coming year will see continued pressure on government spending across most sectors in the Gulf states, and cuts to public-sector payrolls. But accounting and financial consulting firms are expecting to see a business bonanza in 2017 thanks to the introduction of value-added tax (VAT) a year from now. Such firms are expecting a surge […]
Black swans that could cast a shadow over Saudi budget plans on January 2, 2017The Saudi Arabian budget for 2017 was generally well received. Most commentators and analysts applauded the Kingdom’s most important-ever budget, and were impressed by the unprecedented level of detail that accompanied it. Even some critics who have been skeptical of the plans to transform the country welcomed it as a genuine and meaningful attempt to […]