Emerging Gulf tax order to challenge family businesses
Increasing taxation across the GCC will be felt most acutely by family-owned businesses that have turned non-universal taxation to their benefit for decades.
To:
Al-Monitor Pro Members
From:
Sebastian Castelier
Business journalist covering Gulf economies
Date:
Feb. 24, 2023
Bottom Line:
Multinationals are weighing the costs of increasing taxation across Gulf Cooperation Council (GCC) economies. But long-term implications are more acute for family-owned businesses that have turned non-universal taxation to their benefit for decades, making it a competitive advantage to retain their grip on non-oil economies. On top of the challenges of a new tax environment, they face the risk of failing to adapt to changing market conditions.
