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 implementation will be contingent upon the international community reaching a consensus on the taxation framework established by the Organisation for Economic 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…
Introduction and latest tax developments in KSA The Kingdom of Saudi Arabia introduced the latest tax developments in the country on Tax Authority’s Amnesty Scheme. Re-launch of tax penalty amnesty scheme Zakat, Tax and Customs Authority (ZATCA) announced the re-launch of its fines and relief amnesty for all taxpayers subject to Read more…
Talent Pass license for freelance or self-employed work with the aim of attracting global talent and professionals. Under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Airport Freezone Authority (DAFZA) launched the Talent Pass license for freelance or self-employed work with the aim of attracting global Read more…
Invest in Saudi Arabia Saudi Arabia is the fastest growing and diversifying market in GCC. As per the latest world bank ranking on Ease of Doing Business, Saudi Arabia is placed at 62nd position compared to 92nd position in the year before. This drastic improvement has been the result of Read more…
It is an interesting time for Saudi Arabia. Changes in so many different domains remain to keep business experts across the globe eager and excited. KSA has been witnessing a paradigm shift in its economic and foreign policies. Vision 2030 is one such transformational project launched by Crown Prince Salman Read more…
Now live and work in Abu Dhabi as ADDED launches freelancer license Are you planning to move out of your current job and start your own consultancy? Abu Dhabi’s Department of Economic Development has just made it easier for skilled professionals, both residents and nonresidents, in specific categories to apply Read more…
IMPACT OF KSA VAT HIKE Saudi Arabia to increase VAT to 15% W.E.F 1 July, 2020 In response to the unprecedented impact on economy due to COVID-19 pandemic, the Ministry of Finance, Saudi Arabia has decided to increase the standard rate of VAT from 5% to 15% with effect from 1 Read more…
