Abstract
In the wake of a number of crises, governments have increasingly turned to a wide range of taxation mechanisms to finance their operations over the past few years. Recent years have seen a rapid rise in the value-added tax’s profile as one of the world’s most prominent tax systems, thanks in large part to its adoption by governments in the GCC. Though value-added taxes (VAT) have many advantages as a tax system, they have also been associated with a variety of challenges during implementation. In this paper, we examine the positive and negative impacts of VAT on SMEs. But the negative impacts seem more pronounced. This peer review provided a comprehensive summary of the reviewers’ discussions regarding the impact of the value-added tax on small and medium-sized businesses. As a result of the novel approaches and discoveries offered by a number of scholars, this study was finalised. There were significant gaps in our understanding of how VAT impacts small and medium-sized firms, and this article helped to close those gaps.
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