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Wafeq, Dubai-based accounting and financial compliance startup, raises $3M

  • Gulf Cooperation Council (GCC) member states signed the Value Added Tax (VAT) agreement in 2016.
  • UAE and Saudi Arabia were the first to implement the treaty in 2018.
  • The implementation of the treaty meant that businesses needed to be compliant with the new tax regulations.
  • Wafeq, a Dubai-based accounting and financial compliance startup, raised $3M to help businesses become compliant with the new regulations.

Via