The impact of VAT on key Kuwaiti sectors – SPECIAL REPORT
Decrease in oil prices have led the member countries of GCC in search for alternative means of revenue. One way…
Tax
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Q1 results point to strong start for UAE lenders
Contrary to the expectations that the implementation of International Financial Reporting Standards 9 (IFRS 9) and the introduction of 5…
Offshore Deal Volume In 2017 Outpaces Previous Year
The number and value of offshore M&A deals rose in 2017, making it one of the busiest years recorded for…
Federal Tax Authority Looks Back on 100 Days of VAT in the UAE
Tax compliance in the UAE is one of the highest in the world, as 98.8% of all businesses and groups…
Reason logic in tax on expat remittances
The Finance Committee of the National Assembly has approved the draft law on the taxation of expatriate transfers without serious…
Kuwaiti Parliament considers bill to tax remittances
Kuwait's top lawmakers proposed a new legislation to impose a fee on foreign remittances, despite being warned by the government…
UAE banks may hike fees to offset additional VAT costs
As banks in the UAE grapple with the new value-added tax regime and the high compliance costs associated with mandatory…
Taxing expat remittances is legal: Ashour
Rapporteur of the National Assembly’s financial and economic affairs committee MP Saleh Ashour said yesterday that imposing charges or taxes…
Kuwait government agrees with proposal to tax expats’ remittances
Official sources said the government agrees with a proposal to tax remittances made by expatriates and denied that the Central…
New technologies set to disrupt UAE banking sector in 2018, KPMG banking perspectives report states
Implementation of VAT could result in banks increasing their fees to compensate for increase in costs A strong and positive…
Saudi crown prince signs MoU with SoftBank to set up world's largest solar project
Saudi Arabia’s Crown Prince Mohammed bin Salman has signed a memorandum of understanding with SoftBank to establish the largest solar…
Tax ruling offers alternative tax treatment for foreign investment corporations
The Israeli tax authorities (ITA) issued a tax ruling on 7 February 2018 that introduces a new tax treatment for…