Other Briefings
Palestine, China, Sign ‘Strategic Partnership Agreement’ In Beijing
China said on Wednesday (June 14) that it has signed a “strategic partnership” with the Palestinian Authority during a visit to Beijing by Palestinian President Mahmoud Abbas. The announcement marked another step in China´s campaign to gain political and economic influence in the Middle East. Beijing established diplomatic ties with Palestine in 1988; and has […]
UAE ‘Emiratisation’ HR Deadline Compliance Moved To July 7 – Three Weeks From Now
Foreign investors must comply or face penalties of Dh42,000 per missing local employee The UAE Ministry of Human Resources and Emiratisation (MOHRE) has announced a small extension to the deadline for achieving semi-annual Emiratisation targets. These are applicable to the UAE private business sector and includes foreign investors.
The Arab-China Business Conference: US$10 Billion JV Agreements Signed
The tenth Arab-China Business Conference has been taking place in Saudi Arabia, ending with the signing of 30 investment agreements worth SR37.5 billion, (¥71 billion).
Pakistan Taking Its IMF Medicine, 2023/24 GDP Growth Rates Forecast At 3.5%
Ishaq Dar, Pakistan’s Finance Minister said on Saturday (June 10) that a projection in the government’s budget of 3.5% economic growth for the year ending in June 2024 was a “realistic target”. He said the target was “on the low side”, a day after presenting the budget for the fiscal year 2023-24. The budget is […]
Foreign Owners Of UAE Property: Pay Tax, Or Become Resident
The UAE Ministry of Finance has just clarified the latest provisions under the corporate tax regime, as relates to the numerous non-resident investors in the UAE’s real estate market. Now, the situation has been made simple to understand.
UAE, Egypt, Sign US$10 Billion Deal For 10GW, World’s Largest Wind Farm Project
MENA region gets serious about renewable green energy resources The MENA (Middle East & North Africa) region is making moves towards green energy as the Abu Dhabi Future Energy Company PJSC-Masdar, together with Infinity Power, Africa’s largest renewable energy developer, and Hassan Allam Utilities, a sustainable infrastructure focused investment platform, have signed an agreement with […]
Qualifying Income Tax In The UAE Free Zone: Pay Attention, Or Pay Tax
Be aware of the ‘De-Minimis’ Threshold and hire an accountant or face serious financial risks and penalties The UAE’s new Corporate Income Tax code has kicked in from June 1st and requires specific attention from foreign investors based in the UAE Free Zone (FZ). It should be noted by all companies in the FZ that […]
UAE Announces Tax Ruling On Non-Residents Property Income
Foreign Property Owners Earning Rental Need To Be Aware This Is Now Taxable Income The UAE Ministry of Finance has announced a Cabinet Decision regarding non-resident person’s corporate tax exposure of property held in the UAE.
Iran’s Imports From Kyrgyzstan Up 119% As INSTC & EAEU FTA Begins To Make An Impact
Iran’s imports from Kyrgyzstan increased by 119% in value and 36.2% in volume during the first month of the current Iranian year (March 21 through April 20, 2023), compared to the same month in the last year. Iran imported a total of 256 tons of goods worth approximately US$414,000 from Kyrgyzstan during the month, mainly […]
What Is ‘Qualifying Income’ In The UAE Free Zone?
Now is the time to engage in Free Zone business tax compliance upgrades as UAE corporate tax kicks in. The new corporate tax regime in the UAE has now begun (June 1) with some clarifications still being issued by the UAE Ministry of Finance. An oft asked question as businesses look to minimise the taxable […]
