Egypt's parliament approved on Monday a long-awaited law introducing a value added tax of 13 per cent which will rise to 14 per cent in the next fiscal year.
Parliament had been debating the law for weeks with several lawmaker
China slapped fines of more than $300,000 on the Ritz Carlton and Crowne Plaza hotels in Beijing, along with four other companies for using recent tax reforms to justify price increases.
The country's top economic regulator, t
Introducing the Value Added Tax (VAT) will lead to higher inflation rates across the GCC, according to financial and investment professionals in the UAE.
This is one of the results of a survey undertaken by the CFA Society Emirates, the
Value-added tax (VAT) will affect sales of goods and services in Bahrain with limited exemptions and consumption tax relief, an expert said, adding that there will be a right for businesses to claim a credit for VAT paid on their business expens
While a majority of CFOs in the GCC expect to see some level of impact upon their business with the introduction of value-added tax (VAT), nearly half of them have only a “minimal understanding” of the impacts associated with the tax
KPMG in Bahrain is organising a seminar on value-added tax (VAT) next week to discuss the imminent introduction of VAT and its implications on the business environment in the kingdom.
The event will be held on June 5 at the Diplom
The introduction of value added tax (VAT) will increase inflation rates across the GCC, according to one-third of investment professionals, while over a quarter said that it will increase the cost of doing business, a report said.
Although the introduction of value added tax (VAT) in the GCC in 2018 may seem like a long way off, there are sensible ways businesses can start preparing now – by assessing how it will impact them, according to experts.
Egypt promised tough action to restore growth with a government programme that aimed to reduce the budget deficit while protecting the poor as public anger mounts over a deteriorating economy.
Prime Minister Sherif Ismail, reading
The UAE plans to introduce a 5 per cent value added tax (VAT) from January 1, 2018, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, has been quoted as saying.
In the first year, the country is expected to earn Dh12