Saturday 25 February 2017
 
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tax

Bahrain endorses GCC VAT deals

Bahrain has endorsed agreements related to introduction of value added tax (VAT) in the GCC, paving for the levy to be applied by mid-2018. Information Affairs Minister Ali bin Mohammed Al-Romaihi held a press conference at the In

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GCC businesses 'must focus on VAT preparations'

With only a year to go for the planned date of implementation of the value-added tax (VAT), businesses operating in GCC countries need to urgently start focusing on getting ready. To help businesses in the GCC understand the poten

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Saudi Arabia to slap 50pc tax on soft drinks

Saudi government is planning to levy a 50 per cent tax on soft drinks starting from the second quarter of 2017, said a report. The levy was announced as Saudi Arabia unveiled the state budget plan for the fiscal year 2017, accordi

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WHO urges tax hike on sugary drinks

Taxing sugary drinks can lower consumption and reduce obesity, type 2 diabetes and tooth decay, says a new World Health Organization (WHO) report. Fiscal policies that lead to at least a 20 per cent increase in the retail price of

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Qatar to levy airport tax on passengers

Qatar's government will levy a new airport tax on passengers from Tuesday, according to a circular to travel agents, as the country seeks new revenue streams amid falling oil prices. Every passenger leaving Qatar from Doha'

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Clinton details plans to boost small businesses

Democrat Hillary Clinton on Tuesday vowed to make starting a small business in the United States as easy as opening a lemonade stand if elected president, targeting a large economic sector and a significant voting bloc. Her flagsh

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Saudi Arabia to issue undeveloped land tax rules soon

Saudi Arabia will announce the final regulations on an annual tax on undeveloped urban land in two weeks, the housing minister said on Wednesday. "Land fees are now complete and have been studied by all concerned entities and

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Expats, employers concerned over Saudi tax move

Expatriates in Saudi Arabia and their Saudi employers alike voiced unease about a proposal the government is studying to impose income tax on foreign workers to make up for falling oil revenues. Around a third of the 30 million in

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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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