Singapore to keep pursuing other Free Trade initiatives
Singapore says it will continue to participate in other free trade initiatives, as members of the Trans-Pacific Partnership (TPP) consider new options after new US President Donald Trump ditched the trade pact that he said kills American jobs. The Ministry of Trade and Industry (MTI) told The Straits Times that the Republic will also have to […]
BVI to Sign up to BEPS Minimum Standards
The British Virgin Islands has confirmed that it will implement the OECD’s base erosion and profit shifting (BEPS) minimum standards as a BEPS Associate member. The BVI has said it will participate in the new “Inclusive Framework” announced by the OECD. As a member of the framework, the BVI is committing to implement the OECD’s […]
Bahrain, US Sign FATCA Agreement
Bahrain has signed an agreement to implement the US Foreign Account Taxpayer Compliance Act with the United States. FATCA, enacted by the US Congress in 2010, is intended to ensure that the US obtains information on accounts held abroad at foreign financial institutions (FFIs) by US persons. Failure by an FFI to disclose information on […]
EFTA and India continue Free Trade Talks
The EFTA states – Switzerland, Liechtenstein, Norway, and Iceland – and India recently discussed how to push for the conclusion of a bilateral free trade agreement. The free trade negotiations started in October 2008, with 13 rounds being held until November 2013. Chief negotiators decided to resume negotiations in 2016 after taking stock of their […]
Key tax related items from the 2017 National Fiscal Budget of Kingdom of Saudi Arabia
The Kingdom of Saudi Arabia (KSA) National Budget 2017 sees a progressively lower budget deficit with the aim of achieving break even by 2020. The government has considered taxes as one of the sources for additional revenue with the introduction of certain new/revised levies on expatriates and, most notably, the Value Added Tax (VAT). Whilst […]