Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Difference between VAT and corporate tax

Corporate tax will be introduced in the UAE from June 1, with exemptions for some businesses and organisations

Saudi campaign against illegal insurance deals and fraud

SR2 million fine and jail for doing unlicenced insurance business

Labuan IBFC Inc. and Qatar Financial Centre Authority enhance strategic partnership

Both parties have signed a renewed MoU to further collaborate on market development and promotional activities

Saudi Arabia signs energy cooperation deal with Azerbaijan

Agreement outlines cooperation in the field of circular carbon economy and related technologies that seek to mitigate the impact of climate change.

UAE's corporate tax explained: June 1 start, key elements and exemptions

A standard statutory rate of 9 per cent will apply starting from the financial year beginning on or after June 1

OQ explores significance of internal auditing to boost governance

It underscores the value contributed by internal auditing departments to their respective organisations.

UAE Central Bank removes insurance company’s board of directors

Regulator appoints temporary committee for six months to carry out business at unnamed company

Banque Misr signs deal with Zammit to support micro, small businesses

Founded in 2020, Zammit is one of the promising companies in the field of e-commerce

UAE Central Bank removes entire board of directors of insurance company

A temporary committee will oversee operations for six months

3-year UAE work permit plan: FNC approves proposal

Currently, the permit is issued for two years, and it is illegal for anyone to work in the country without the valid paper

UAE Corporate Tax: New update offers wide scope on investments made by individuals doing business

Property income generated by an individual doing business is exempt - but on non-licenses

UAE announces 3 new decisions relating to corporate tax

The decisions aim to enhance the flexibility of the country's corporate tax regime and ensure a supportive business environment for all sectors

Kuwait Finance House – Bahrain concludes ‘Wa’ed’ Graduate Trainee Program

A number of graduates were hired upon successful program completion

Egyptians Can Now Open Bank Accounts without a Minimum Deposit

These initiatives include different ‘Bedaya’ (beginning) accounts with the aim of tailoring banking services to individual needs and making them more accessible.

Egypt's central bank leaves key interest rates on hold

As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee said

Corporate Tax: At Dh1m, UAE ensures sizeable upper limit for individuals in business unlike VAT's Dh375,000

VAT ceiling for individuals doing business is Dh375,000 in annual revenue

UAE announces key tax rule update for resident, non-resident entrepreneurs

The Ministry of Finance has increased the tax threshold for business or business activities conducted by individuals

All you need to know about mandatory UAE Unemployment Insurance Scheme

Pay up to Dh120 to receive up to Dh20,000 monthly if you lose your job or face Dh400 fine

Saudi Arabia modernises arbitration rules

The court will be comprised of 15 Saudi and international expert legal practitioners, retired judges, former leaders of arbitral institutions and academics.

Lebanon central bank chief did not attend French fraud hearing – judicial source

The three have been charged in two separate cases in Lebanon.

Legal, Tax, Regulation & Compliance