GCC may gear towards Taxation
World is heading towards another business crisis, on the back of sliding oil and gas prices and falling stock markets all across the world.
This time, this crisis is happening due to price wars and no oil cuts by the OPEC, and before it is too late OPEC has to act in order to stabilize the world business.
If that is not done, the GCC countries shall have to implement taxes including the VAT soon.
There will be no direct taxation . It is not viable since most expats fall in the low to middle earner category
Then people will go to jail because they can't pay their income taxes because they don't receive their salaries. That's going to be funny.
Another question is will we also be taxed on salaries that are NOT paid?
It's an interesting one, I think the biggest issue here will be 'IF' we are taxed. We will be due a right to say what our money is spent on, voting rights etc?
Not sure how popular this would be.