JAFZA (the Jebel Ali Free Zone) has become the most recent Dubai jurisdiction to allow Dubai International Financial Centre (DIFC) Foundations as direct shareholders and/or incorporators in registered entities. This is a big step forward when it comes to business consolidation and growth.
The Federal Tax Authority (FTA) has introduced a VAT refund scheme in the United Arab Emirates for foreign businesses. With this scheme, all eligible non-United Arab Emirates established businesses will be able to submit the VAT refund requests for the calendar year 2019. However, the refund application needs to be made by 31st August 2020.
There are seven IT companies that are interested in investing approximately $3.1 million or 210 crore rupees for Bahrain company formation.The monetary investment will help to improve Bahrain’s technology and communication.
The world economy is staggering under the pressure of the CoVID-19 pandemic, which has now affected nearly 193 countries and impacted the livelihood of countless people all over the globe. As social distancing is the norm now, the businesses of all sizes are finding it hard to maintain a smooth run.
Mr Chan Chun Sing, the Trade and Industry Minister of Singapore, recently announced that the Government has multiple relief measures planned to be executed to support the workers and businesses in the coming 3-6 months, as the CoVID-19 outbreak continues to threaten the country.