The Preamble of the Common Excise Tax Agreement establishes the legal and economic foundation for its creation by the GCC Member States: the UAE, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait. It cites the objectives of the GCC Statute and the GCC Economic Agreement of 2001, which aim to enhance cooperation and achieve economic integration through harmonised financial legislation. The agreement's adoption was authorised by the GCC Supreme Council during its 36th session in December 2015, which empowered the Financial and Economic Cooperation Committee to finalise the common excise tax framework for the region.