GTL Summary:

Document Type: Tax Law Article
Law: Common VAT Agreement
Article Number: 36
Country: 🏳️ GCC
Location: Chapter 6 - Exceptions
Order: 36
Last updated at: 2025-11-04 11:19:40 UTC

Chapter 6 - Exceptions

Article 36 - Financial Services

  1. Financial Services performed by banks and financial institutions licensed under the laws in force in each Member State shall be exempt from Tax. Banks and financial institutions may reclaim Input Tax on the basis of the refund rates determined by each State.

  2. As an exception to subsection 1 of this Article, each State may apply any other tax treatment to financial Services.

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