El-Sissi appoints 10 new ministers
President Abdel Fattah El-Sisi named 10 new ministers, including the finance and investment portfolios, in a Cabinet reshuffle on Wednesday…
Tax
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Gulf states not holding back on major reforms
Oil’s dramatic fall since June 2014 is emboldening Middle East policymakers. Generous fuel and food subsidies are being slashed, sales…
Gulf real estate investors hit by new UK residential tax
The UK government has introduced a new tax on the purchase of additional residential property, raising concerns that Middle Eastern…
Saudi Banks Outlook Negative, New Austerity Measures Introduced
The outlook for Saudi Arabia’s banks have changed to negative from stable by credit rating agency, Moody’s Investors Service, because…
KUWAIT: Cabinet nod to 10% tax on company profits
Kuwaiti Finance Minister Anas Al-Saleh told a press conference on Monday that the Cabinet had approved a plan to impose…
Income tax department examining HSBC reply in blackmoney case: CBDT
The Income Tax department is scrutinising a reply sent to it by HSBC bank after the taxman recently issued notices…
ACCA and AFAA sign agreement
The agreement was signed at the Accounting and Auditing Profession in the Arab World event, hosted by AFAA in Cairo. …
Nigeria, Qatar sign agreements on air service, avoidance of double taxation
Nigeria and the State of Qatar on Sunday in Doha signed Bilateral Air Services Agreement (BASA) to pave way for…
Businesses guilty of wasting 5% of revenues a year
Global organisations needlessly wasted an average amount of 5% of revenue every year, according to a new study by the…
Will VAT affect UAE residents? Here's your answer
The rate of tax at five per cent, as recommended by the World Bank and the International Monetary Fund, is…
Bahrain to discuss bank regulations with US Treasury
Bahraini authorities will discuss with the US Treasury the problem of international banks becoming reluctant to deal with banks in…
UAE budget deficit set to fall: NBAD
On the back of various measures to support government revenues, the UAE's budget deficit could fall to about four per…