UAE VAT collections at $7.4 billion in 2018
The United Arab Emirates (UAE, Aa2 stable) released data revealing that value-added tax (VAT) collections were far higher than…
Tax
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Israel seeks Swiss help in overseas tax crackdown
Israel’s finance ministry has sought help from Switzerland in identifying Israelis it believes have undeclared assets at Union Bancaire Privee…
Israel seeks Swiss help in overseas tax crackdown
Israel’s finance ministry has sought help from Switzerland in identifying Israelis it believes have undeclared assets at Union Bancaire Privee …
Israel: First court decision issued on taxation of Bitcoin transactions by individuals
On 19 May 2019, the Israeli District Court issued the first court decision in Israel on the taxation of Bitcoin…
More UAE banks to merge, KPMG predicts
More consolidation is likely in the financial services sector in the United Arab Emirates over the next four years, especially…
Will VAT rate go up in GCC?
The GCC states will eventually increase value-added tax (VAT) rate, which is one of the lowest in the world, but…
Tax authority looking into Israeli accounts in Cayman Islands
Thousands of bank accounts held by Israelis in the Cayman Islands are being investigated, Israel Tax Authority Director Eran Yaakov…
Finance ministers call for creation of digital tax for tech companies
The Finance Ministers of the G20 member nations on Saturday called for the creation of a digital tax for multinational…
VAT update: recovery procedure in the UAE and 2020 SAF-T confirmed in Norway
If you have questions or need more information on any of the below points, simply make an enquiry with us.…
Implementation of tax transparency initiative delivering concrete and impressive results
International efforts to improve transparency via automatic exchange of information on financial accounts are improving tax compliance and delivering concrete…
The IMF and World Bank — wolves in sheep’s clothing
For years, the International Monetary Fund (IMF) has been pressing Gulf states to apply value-added tax (VAT) on consumer goods…
UAE's VAT collections exceeds expectations by a wide margin in 2018
UAE residents paid Dh27 billion in value-added tax (VAT) last year, surpassing the government's target of collecting of Dh12 billion,…