Saudi Arabia has officially launched its national real estate tokenization infrastructure and digital ownership transfer, marking a bold new chapter for the Kingdom’s property market. This move not only modernizes real estate processes but also reimagines how people around the world can invest in Saudi property, all in alignment with Read more
As 2025 enters its final quarter, business leaders are approaching a decisive period, an ideal time to reassess financial health and performance. A thoughtful review of cash flow before year-end and accounts to date can determine whether the year closes smoothly or under pressure. This process goes beyond balancing the Read more
Starting January 1, 2026, the UAE will implement a sugar-based excise tax, replacing the current flat 50% rate with a tiered system that depends on the amount of sugar a drink contains. Announced by the UAE Ministry of Finance, this move aligns with GCC standards and supports the UAE’s goals Read more
Introduction The recent Union Budget 2023 has introduced a significant update regarding the Tax Collected at Source (TCS) on outward foreign remittances. The new provision states that the TCS rate on all outward foreign remittances has been increased from 5% to 20%, except for educational and medical purposes. This article Read more
In a recent session of the National Assembly, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa shed light on Bahrain’s plans to introduce corporate tax. The Corporate Tax Implementation implementation will be contingent upon the international community reaching a consensus on the taxation framework established by the Read more
Saudi Arabia has established several Special Economic Zones (SEZs) across the country to attract foreign investment and promote economic growth. Four SEZs in Saudi Arabia will be examined in-depth in this article:Ras Al Khair SEZ, Cloud Computing SEZ, King Abdullah Economic City SEZ, and Jazan SEZ. Ras Al Khair SEZ Read more
Do you have a business in UAE? Or are you planning to set up a business? But confused about where to set up. Mainland or Free zone? The Corporate Tax Law will come into effect in UAE from 1 June 2023 with a headline rate of 9%. What does it Read more
On June 28, 2022, The Ministry of Commerce and the Capital Market Authority (CMA) announced the new corporate law (the ‘New Companies Law’). It came into force as of Thursday, Jan 19, 2023. The New Law will replace the recently published Companies Law of 2015, as well as the Professional Read more
A procedural guide for the decision of localizing consulting services was issued by The Ministry of Human Resources and Social Development (HRSD). In the first phase, 35% of consulting professions and businesses will be localized as of April 6, 2023. In The second phase, 40% will be implemented as of Read more
Riyadh: The Saudi Central Bank (SAMA) announced granting a new batch of companies the permit to provide Open Banking Solutions in the Regulatory Sandbox. Permitted FinTechs are: Wally Global Arabia Sanam Aliliddikhar for Information Technology Istishraf Al-Bayanat for Financial Technology Spare Arabian Financial Company This will bring the whole number of Read more
