Mubasher: Qatari companies will be ready for implementing the value-added tax (VAT) after six months to complete all legislative requirements.

The announcement came on the sideline of a workshop organised by Qatar Chamber in collaboration with Thomson Reuters and Ernst and Young to discuss VAT impact on the energy sector in Qatar.

It is expected that all GCC countries will be able to apply the VAT by 2019, Jennifer O' Sullivan, partner and VAT implementation leader, commented.

“Any country in the process of implementing the tax should be ready 12 months ahead of the deadline,” Jennifer added.

Early in 2016, all GCC countries signed the VAT agreement, and both Saudi Arabia and the UAE have imposed the new tax as of January 2018.