Monday 3 August 2015
 
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Zain Saudi to appeal $165m zakat, tax order

Zain Saudi will appeal an order from Saudi Arabia's Department of Zakat and Income Tax for extra payments worth SR619 million ($165.1 million) for the years 2009-2011, the kingdom's number three telecommunications operator said.

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Sewage tax plan to bridge Bahrain’s budget deficit

A new sewage tax could be introduced in Bahrain as the government considers alternative ways to increase revenues in light of reduced oil income. The Cabinet has referred a draft bill to parliament that, if approved, will require

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Qatar forum focus on UK property investment

The Qatari Businessmen Association (QBA) recently organised a seminar on how to achieve tax-efficient investment in UK real estate. The private seminar entitled, ‘Achieving Value in the UK Real Estate Market’ was organ

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UAE signs US foreign account tax compliance deal

The UAE Ministry of Finance (MoF) said it has signed the intergovernmental agreement with the US on the Foreign Account Tax Compliance Act (Fatca) as part of its measures to protect Emirati financial institutions. The Fatca was en

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Egypt puts capital gains tax on hold

Egypt has put a 10 per cent tax on capital gains on hold for two years, but a 10 per cent tax on stock dividends will remain, the government said in a statement, confirming a Reuters story. Government spokesman Hossam Al-Qawish sa

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Qatar tax laws in spotlight at Bahrain seminar

Many businesses and high net worth individuals in Bahrain choose to set up branches or invest in nearby Qatar, taking advantage of the wealth of opportunities that the high GDP country has to offer. Qatar has streamlined its regul

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Egypt to tweak stocks tax, dampens hopes for big changes

The Egyptian government is working on amending the payment method of a new tax on stock dividends and capital gains, the finance minister said on Thursday, dampening market expectations of any big changes to the unpopular levy. Pr

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Kuwait mulls same tax for local, foreign firms

Kuwait is studying proposals to introduce the same tax rates for local and foreign companies, Finance Minister Anas al-Saleh told reporters on the sidelines of a business conference on Monday. "There is a list of taxes on loc

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Obama income falls to $477,000 in 2014

US President Barack Obama and his wife Michelle earned $477,383 in 2014, a decline over the past few years as sales of the president's biographies declined, according to their tax return released by the White House on Friday.

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Saudi real estate shares tumble on new tax plan

Saudi Arabian real estate shares tumbled on Tuesday after the cabinet approved a proposal to tax undeveloped land in urban areas - a policy that could shake up investment incentives in the kingdom and help to resolve a housing shortage.

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