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A Member Firm of Andersen Global

VAT Updates: The new list of designated zones, eligible goods under profit margin scheme and the VAT treatment of various compensation-type payments and labor accommodations

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VAT Updates: The new list of designated zones, eligible goods under profit margin scheme and the VAT treatment of various compensation-type payments and labor accommodations
  • Newsletter

VAT Updates: The new list of designated zones, eligible goods under profit margin scheme and the VAT treatment of various compensation-type payments and labor accommodations

  • The Federal Tax Authority (FTA) issued a Public Clarification VATP001 in order to provide guidance on the VAT treatment of compensation-type payments such as compensation for the loss, settlement of a dispute, payment made for damaged goods, penalty

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Oman Announces Setting up its First Smart City in the SEZ of Duqm
  • Newsletter

Oman Announces Setting up its First Smart City in the SEZ of Duqm

  • Oman is currently working on a project with South Korea with an aim to develop its first-ever ‘smart city’ which will be located in the Special Economic Zone (SEZ) in Duqm, said a report.

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Treatment Of Tax For Labour Accommodation
  • Newsletter, U.A.E.

Treatment Of Tax For Labour Accommodation

  • UAE Federal Tax Authority has published a clarification on the Value Added Tax (VAT) treatment for labour accommodation. As per the clarification, labour accommodation is exempt from the VAT. Incidental services which are basic and considered necessary are

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  • Newsletter, Singapore

Planning for the Future

  • The rapid change in technology affects the economy in various ways. With good opportunities and high-quality living, this is what the future looks like in Singapore.

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New Policy Issued on Artificial Intelligence in Healthcare by the Department of Health in Abu Dhabi
  • Newsletter

New Policy Issued on Artificial Intelligence in Healthcare by the Department of Health in Abu Dhabi

  • The Department of Health in Abu Dhabi (“DOH”) has come up with a fresh policy and guidelines around using Artificial Intelligence (“AI”) in the healthcare sector, with the objective of urging its implementation in a safe and secure

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Immigration Alert: The UAE Cabinet Announces 8 Modifications
  • Newsletter

Immigration Alert: The UAE Cabinet Announces 8 Modifications

  • The UAE has recently announced eight new changes with a goal to improve a nation’s competitiveness in terms of economy, enhance tourism and also retain talented students.

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Many firms in UAE and Saudi opening up and planning to expand
  • Newsletter, Saudi Arabia, U.A.E.

Many firms in UAE and Saudi opening up and planning to expand

  • The finance heads in UAE have forecasted a huge revival in the economy and plan to increase the level of their investments and funds in their businesses.

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Kuwait is planning to come up with some new laws to relieve curbs on foreign projects
  • Newsletter

Kuwait is planning to come up with some new laws to relieve curbs on foreign projects

  • Kuwait is going to issue some new laws which are aimed to loosen the tight grip on foreign investment and thus quicken the process for various projects. This will stimulate the influx of funds and capital and hence

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India: GST in India has affected the tourism industry
  • Newsletter

India: GST in India has affected the tourism industry

  • The hotels combined with travel industry went over $137 billion by 2016 end. However, the beginning of GST has impacted this industry in India in a big way.

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The next decade's regulation goals - Reform assessment, supervision, and tech
  • Newsletter

The next decade’s regulation goals – Reform assessment, supervision, and tech

  • The experts of financial regulations are going to tackle issues like reform assessment, improving supervision and mitigating cyber risk in the coming decade, said the managing director of Monetary Authority of Singapore (MAS), Mr. Ravi Menon.

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