The preamble of the GCC Common VAT Agreement identifies the signatory Member States: UAE, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait. It establishes the agreement's legal basis, referencing the GCC Statute and the 2001 GCC Economic Agreement, which aim for economic integration and harmonised financial legislation. It cites the Supreme Council's 2015 decision to impose a common 5% VAT, mandating the Financial and Economic Cooperation Committee to finalise the agreement. The core objective is to create a unified legal framework for a general consumption tax (VAT) on the import and supply of goods and services.