Thursday 18 December 2014
 
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UAE, Hong Kong in deal to avoid double taxation on income

The UAE signed a deal for the avoidance of double taxation on income with Hong Kong, during a meeting between businessmen and commercial banks from both parties in Dubai, UAE. The agreement was signed by Obaid Humaid Al Tayer, Min

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Jordan rejects IMF-proposed new taxes

Jordan’s Finance Ministry has rejected proposals from the International Monetary Fund (IMF) to increase sales and other taxes, according to a report. It has presented a package of alternative measures to increase revenues an

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New global plans aim to crack down on tax avoidance by firms

Plans for a major rewriting of international tax rules unveiled on Tuesday could eliminate structures that have allowed companies like Google and Amazon.com to shave billions of dollars off their tax bills. The Organisation for Ec

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India taxation move 'to attract GCC investment'

Non-Resident Indians (NRIs) in Bahrain foresee an influx of GCC investment in India in the coming years, with the debut budget of the new Indian government clarifying its stance on retrospective taxation.   Prime

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Egypt imposes tax on capital gains, dividends

Egypt's president has approved a law imposing a new 10 per cent tax on capital gains and stock dividends, as the country seeks to revive an economy battered by more than three years of political turmoil. The tax applies to div

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Egypt extends 5pc supplementary tax to firms

Egypt extended a 5 percent supplementary tax to include companies as well as wealthy individuals, drawing a mixed response from businesses on Monday as it seeks ways to boost flagging state revenues under a new president. Egypt

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Egypt implements temporary tax increase for wealthy

Egypt's interim president, Adly Mansour, on Thursday signed into law a temporary five per cent income tax increase on individuals earning more than 1 million Egyptian pounds ($139,900) a year, state news agency Mena said. The tax will appl

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Egypt waters down stock market tax

Egypt watered down a capital gains tax on stock market profits it announced last week, after the country's bourse recorded its biggest daily drop in almost a year on Sunday. Egypt is keen to encourage investment but also wants

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Egypt approves 10pc capital gains tax

Egypt's government approved a 10 per cent capital gains tax on stock market profits, dividends and bonus shares, the country's Finance Minister Hany Dimian told Reuters in a phone interview on Thursday.  

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WHO urges higher tobacco taxes to save lives

Countries must raise taxes on tobacco to encourage users to stop and prevent other people from becoming addicted to tobacco, the World Health Organisation has urged. Based on 2012 data, WHO estimates that increasing tobacco taxes

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