Treaty Updates
Saint Kitts and Nevis – United Arab Emirates: DTA Signed Hong Kong – Romania: DTA Signed Cyprus – India: DTA Signed Germany – Australia: DTA entered into force Canada – Madagascar: DTA Signed Russia – Singapore: DTA entered into force
Saudi Arabia, Turkey sign 8 agreements to promote business
RIYADH: Saudi Arabia and Turkey have signed eight agreements in Istanbul in the presence of Commerce and Investment Minister Majid Al-Qassabi and Turkish Economy Minister NihadZabka to boost bilateral trade. The signing of agreements took place during the Saudi-Turkish Joint Business Council meeting in Istanbul. Speaking after the signing of the agreements, Zabka said that […]
Be ready for the Unified GCC Customs Tariff 2017
In brief The Customs Authorities of the Gulf Co-operation Council (GCC) countries have recently finalized the Unified GCC Customs Tariff 2017, which will enter into force on 1 January 2017. The amendments to the Unified GCC Customs Tariff may have a major impact on your company. In detail Every five years, the HS is updated in order to […]
New Base Erosion & Profit Shifting (BEPS) Guidance on Country – By – Country Reporting & Implementation
New information on Country-by-Country reporting should give more certainty to tax administrations and multinationals on how to implement it. On 5 December 2016, the OECD released further guidance on Country-by-Country (CbC) reporting and country-specific information on implementation of the guidance. CbC reporting is linked to action point 13 in the Base Erosion and Profit Shifting […]
Establishment of English Language Courts in United Arab Emirates
Introduction United Arab Emirates is always known for fast pace development and adapting the things to promote investor and form an attractive business environment. The government of Abu Dhabi has announced establishment of Abu Dhabi Global Market (ADGM) in 2013 to partner in regional and international growth of UAE. ADGM will comprise of three authorities […]
VAT to boost GCC revenues by $25b per annum
A five per cent VAT will lead to fundamental change in the way businesses operate across around the region. The adoption of value added tax by GCC countries in 2018 would enable the six countries to generate additional annual revenues of $25 billion, tax experts. A five per cent VAT, which represents a major shift […]