Shoura Council approves VAT law
Saudi Arabia’s Shura Council, which is al known as the National Consultative Assembly, approved the added value tax draft in the 45th ordinary session under the chairmanship of Vice-Speaker Dr. Mohammed bin Amin Al-Jeffry. This has been a major step towards the levy of sales tax in the country and create alternative sources of revenue […]
The African world of tax
The recent changes and amendments in the taxation area of African countries: Ghana: The Ghana parliament has abolished the customs duty on spare parts of two wheelers and has introduced an import levy of 0.2% on all imports coming on from countries who are not the members of the African Union (AU). The government has […]
Employment rules amended and introduced in Singapore with effect from July 1st, 2017
The Singapore government has amended and introduced many reforms in regards of re-employment and leave grant for new parents in the year 2017. Previously the employment eligibility age was fixed at the age of 62 and the employers have been notified to make appropriate changes in the internal human resources policies. New rules regarding re-employment: […]
Financial and Regulatory technology in the Middle East
Financial and regulatory technology has always been as a back end support in the Middle East in regards to the banking and insurance companies. But due to the launch of the FinTech Hive Accelerator Programme by the Dubai International Finance Center, there has been an opening of development avenues in the area retail banking app, […]
CBDT introduces mandatory electronic scrutiny assessments from the financial year of 2017-2018
Introduction: The Central Board of Direct Taxes has issued a circular(1) stating that scrutiny assessment proceedings shall be carried on electronically with effect from the current financial year of 2017-2018. It has been further clarified that there will be no requirement of personal appearance before the authorities with an exception of certain clauses. This circular […]