Tuesday 27 September 2016
 
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Remittances

70pc of remittances from Qatar went to S Asia states

South Asian countries are the largest beneficiaries of remittances originating from Qatar, according to Xpress Money, a leading money transfer brand. India, the largest recipient of remittances in the world received $3.99 billion

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Saudi Arabia rules out tax on expat remittances

Saudi Arabia will not impose a tax on the money which foreign workers in the kingdom send back to their home countries, finance minister Ibrahim Alassaf told reporters on Tuesday. Some countries in the Gulf have been considering s

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Saudi Arabia rules out tax on expat remittances

Saudi Arabia will not impose a tax on the money which foreign workers in the kingdom send back to their home countries, finance minister Ibrahim Alassaf told reporters on Tuesday. Some countries in the Gulf have been considering s

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India counts cost of reduced Gulf remittances

Having quit his low-paid job with a contractor in Qatar, electrician Kurian Joseph scrabbles for work each day in his hometown in Kerala, a southwestern state that has one of India's highest unemployment rates. He's a casu

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Mideast remittances top $120 billion in 2015

The Middle East is among the top outward remittance hubs in the world, with the figure in excess of $120 billion for 2015, a report. Remittances within the Middle East are rising rapidly as well, particularly with the Arab nationa

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Bahrain central bank warns over remittances tax move

The Central Bank of Bahrain (CBB) has warned about the fallout of taxes on remittances and other 'foreign transactions', said a report. Such a move will damage national economy and may have serious implications for Bahrain

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Oman panel rejects tax move on expats

The economic committee of Oman's State Council has rejected a proposal to impose tax on remittances by expatriates, a report said quoting a senior official. The proposal had been made by the Majlis Al Shura. Sal

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UAE Exchange named ‘Brand of the Year’

UAE Exchange, a leading global remittance and foreign exchange company, has been voted as ‘Brand of the Year’ by Superbands, owing to its supremacy in the market, longevity and customer loyalty. The company received th

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UAE Exchange remittances to Sri Lanka hit $290m

UAE Exchange, a leading remittance and foreign exchange brand, transferred $290 million, from across the globe, to Sri Lanka in 2013, contributing five per cent of the total remittance inflows to the country. In a statement, the c

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Oman proposes tax on remittances

Oman should tax the billions of dollars which foreign workers send back to their home countries every year, an advisory committee to the government has proposed after signs of mounting pressure on state finances. The economic and

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