The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid US taxes and would collectively owe an estimated $620 billion in US taxes if they repatriated the funds, according to a study released on Tu
Mena governments are considering new tax measures to broaden their revenue base and increase tax yields in a bid to preserve economic stability and continue with development plans, according to experts at a recent summit in London.
Importers in Bahrain have been accused of trying to misuse the kingdom's Free Trade Agreement (FTA) with the US to avoid paying taxes, a report said.
Bahrain's Sea Ports Customs Affairs directorate recorded 100 trade viola
The elderly in Bahrain will enjoy a massive 50 per cent reduction of fees on a wide range of services including construction, property deeds and municipal taxes on renting houses and flats, a report said.
The elderly will be suppl
The Jordanian cabinet approved an austerity package that includes plans to raise taxes on banks and mining firms but avoids controversial fuel and electricity price rises to hold down the rise in the budget deficit, officials said on Sunday.
Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company's profits, The New York Times reported yesterday.
The report said an office in Reno, Nevada, whe
Saudi Arabia imported 57,838 tonnes of tobacco in 2011 valued at SR3.3 billion ($880 million), marking a rise of 57 per cent over the figure for 2009, which reached SR2.104 billion, said a report.
The import volume was considered to be ver
President Barack Obama made the case for his re-election and his jobs plan at two big-ticket fundraisers on Thursday, emphasising the importance of higher taxes to pay for his $447 billion proposal.
"We can pay for it in a way that is res
China has no imminent plans to cut taxes on imports of agricultural commodities, a government official who has direct knowledge of the situation said on Monday.
Normally the tariff commission of China's Ministry of Finance would hold a
Bahrain's government has no plans to stop subsidising electricity and water rates, Electricity and Water Affairs Minister Fahmi Al Jowder told our sister newspaper Gulf Daily News (GDN).
He said that despite a huge budget shortage in t