Friday 29 April 2016
 
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tax

Abu Dhabi to impose new tax on hotel guests

Hotel guests in Abu Dhabi will soon be charged a new fee following a new decree to impose a 4 per cent municipality tax on hotel bills and a Dh15 ($4) charge per night, according to a report.

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Bahrain ‘could soon impose taxes on services’

Bahrain’s monetary regulatory authority could soon have more prerogatives to impose taxes on services, said a report in the Gulf Daily News (GDN), our sister publication.   To read further, please

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OECD launches common reporting standard

The Organization for Economic Co-operation and Development (OECD) has launched the Automatic Exchange of Information (AEOI) also known as the common reporting standard (CRS) - a globally co-ordinated approach to disclosure of account informati

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Kuwait approves 10pc tax on companies' profits

Kuwaiti Finance Minister Anas Al-Saleh told a press conference on Monday that the cabinet had approved a plan to impose a 10 per cent tax on profits of companies. The cabinet also approved a repricing of some commodities and publi

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Making tax less taxing in the Middle East

The Middle East is often perceived to be a low tax, or even a ‘no tax’ area, however, a recent survey of the regions’ tax and finance leaders shows that managing tax in the region can be complex and challenging.

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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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Saudi Arabia plans VAT in 2 years

Saudi Arabian Finance Minister Ibrahim Alassaf said the kingdom expects to introduce value-added tax in two years, aiming for a tax rate of around 5 per cent, the Saudi-owned Al-Hayat newspaper reported on Wednesday. "VAT wil

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Saudi Arabia plans VAT in 2 years

Saudi Arabian Finance Minister Ibrahim Alassaf said the kingdom expects to introduce value-added tax in two years, aiming for a tax rate of around 5 per cent, the Saudi-owned Al-Hayat newspaper reported on Wednesday. "VAT wil

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Oman Shura votes for corporate tax hikes

Oman's Shura Council, a top advisory body to the government, has voted for the biggest increases in corporate taxes in many years to offset a budget deficit caused by low oil prices, local media reported on Wednesday. Any tax

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New tax proposals to boost revenues in Bahrain

New fees, including a proposed tax on factory emissions, have been put forward by the Bahrain government’s finance head as a way of reducing Bahrain’s reliance on oil revenue. Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa w

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