When taxation is revolutionary

The Gulf monarchs have announced the introduction of VAT as a new way of collecting funds to halt the loss of government revenue.

The decision to review this taxfree environment appears to be motivated by a plunge in government revenues. Episodes of capital flight from global investment funds owned by Gulf States have started alarm bells ringing across the region. National budgets have been hit hard by costly military campaigns (the conflict in Yemen, in particular, is longer and more expensive than had been previously imagined) and by the slump in oil prices, now hovering around 40 dollars per barrel. This dynamic is beginning to create the impression that the current economic arrangements in Gulf States might become untenable and constitutes the underlying reason that the monarchies are considering introducing taxation to the region. 

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