Monaco, EU Agree To Tax Information Exchange
The European Council on October 11 agreed a deal with Monaco to automatically exchange information on financial accounts, as part of efforts to prevent bank deposit-related tax evasion. The agreement will require Monaco and European Union (EU) member states to exchange information automatically to reveal non-compliance by taxpayers. The EU has signed similar agreements with […]
EU, ASEAN Decide To Resume FTA Talks
Representatives from the Association of South East Asian Nations and the European Union have confirmed their “commitment to intensify work towards the timely resumption of region-to-region free trade agreement negotiations.” They met in Bangkok on October 13-14. The EU and ASEAN (comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) […]
KSA, Portugal Sign Cooperation Accord
RIYADH: Saudi Arabia and Portugal have signed a cooperation agreement following the Third Saudi-Portuguese Joint Committee meeting at the Royal Conference Palace in Riyadh on 19.10.2016. The accord to improve bilateral relations was signed by Minister of Commerce and Investment Majid Al-Qassabi and Portuguese Minister of Defense José Alberto Azeredo Lopes. The two-day conference focused […]
Riyadh, Amman Expand Cooperation
RIYADH: Deputy Crown Prince Mohammed bin Salman, second deputy premier and minister of defense, met with Jordanian Prime Minister and Minister of Defense Hani Al-Mulki at Al-Yamamah Palace here on 19.10.2016. Their meeting was the first of the Saudi-Jordanian Coordination Council. The council later issued a joint statement. During the meeting, the council reviewed the […]
GCC, Turkish Foreign Ministers set to discuss Iraq and Syria
RIYADH: The escalating tensions between Turkey and Iraq, as well as the bloodshed in Syria, will top the agenda of a high profile joint meeting of the foreign ministers of the six-nation Gulf Cooperation Council (GCC) and Turkey here on 13.10.2016. The meeting will also focus on a range of key regional and international issues […]
Fresh Boost To Saudi-Japanese Ties
RIYADH: 09.10.2016 meetings between the visiting Japanese ministers and Saudi officials in Riyadh have given a fresh boost to their bilateral relations. Custodian of the Two Holy Mosques King Salman received at Al-Yamamah Palace Japanese Minister of Economy, Trade and Industry, Hiroshige Seko and Minister of State for Foreign Affairs Kentaro Sonora and their accompanying […]
KSA, Singapore To Boost Cooperation
RIYADH: Saudi Arabia and Singapore have identified education and health as potential areas of cooperation. “Top Saudi officials will be traveling to Singapore, an island city-state in Southeast Asia, in the near future to explore possibilities to work closely in these sectors,” said Singapore Ambassador Lawrence Anderson. Anderson, who was speaking on the occasion of […]
The Introduction of VAT in the Middle East
The Gulf Cooperation Council will start implementing VAT at a rate of 5% from 1 January 2018. The Gulf Cooperation Council (GCC) – of which the UAE and Qatar are member states along with Saudi Arabia, Kuwait, Bahrain, and Oman – will start implementing the Value Added Tax (VAT) at a rate of 5% from 1 January 2018. […]