| | Weekly business and foreign investment news roundup in Asia by Asia Briefing and Dezan Shira & Associates. |
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| | | | Entities with permanent establishment (PE) status of foreign companies in the UAE are ineligible for Small Business Relief (SBR) benefits as they are not considered resident persons under UAE Corporate Tax Law. Thus, foreign branches and representative offices in the UAE must fully comply with corporate tax regulations without claiming SBR relief. | | | | | The recent amendments limit the ESR’s application to accounting periods from January 1, 2019, to December 31, 2022. Businesses with periods ending after this date no longer need to submit ESR notifications or reports but must comply for 2019-2022. | | | | | LuLu Group International is preparing for one of the UAE’s biggest IPOs of 2024, offering a 25% equity stake to raise US$1.7 to US$1.8 billion, valuing the company at US$6.5 to US$7 billion. With over 240 hypermarkets across six GCC countries, the IPO is attracting strong interest from investors. The subscription period, running from October 28 to November 5, is generating significant financial and cultural interest. | | | | | More businesses will be subject to e-invoicing compliance in Saudi Arabia by 2025 as the 15th and 16th waves of integration get implemented by March 1 and April, respectively. We discuss the criteria of applicability and how businesses can prepare. | | | | | By strengthening ties with Italy, one of Europe’s industrial powerhouses, Saudi Arabia aims to attract investment, foster technological exchange, and boost trade in vital sectors ranging from automotive to clean energy, setting the stage for enhanced bilateral cooperation. |
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COMPLIMENTARY BUSINESS RESOURCES: |  | | | | | This issue of ASEAN Briefing offers an overview of Indonesia's labor market, covering local employment laws, key trends, and emerging sectors, providing insights into workforce dynamics and opportunities in the country. | | | | | India's service sector drives growth and attracts FDI with its market potential, skilled labor, and policies. This issue explores performance, key FDI segments, and strategies for foreign firms. | | | | | As Vietnam boosts its global trade role, this Vietnam Briefing edition covers key import-export regulations, customs procedures, on-spot export regimes, and VAT rules, along with insights on documentation, processing times, and VAT refunds. |
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UPCOMING EVENTS FOR ASIA: | | | Webinar | Tuesday, November 12, 2024 | 1:00 PM GMT / 4:00 PM GST/ 5:30 P.M IST | | | | | Hybrid | Friday, October 25, 2024 | 16:00-18:00 China time / 9:00-11:00 CET time | | | | | Webinar | Tuesday, October 29, 2024 | 3:00 PM Jakarta / 4:00 PM China / 10:00 AM CET |
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