| | Weekly business and foreign investment news roundup in Asia by Asia Briefing and Dezan Shira & Associates. |
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| | | | On December 9, the UAE announced the introduction of a domestic minimum top-up tax (DMTT) effective from January 1, 2025, and proposed tax incentives to support innovation and creation of high-value employment. | | | | | The UAE has become a top destination for billionaires, with billionaire wealth rising 39.5 percent to US$138.7 billion in 2024, and the number of billionaires increasing to 18. Key factors driving this trend include the UAE's appealing legal frameworks, advanced healthcare, and quality education systems, attracting wealthy individuals worldwide. | | | | | Multinational corporations (MNCs) operating in Kuwait should prepare for the upcoming changes in the country’s tax regulations as authorities seek to overhaul the CIT regime under a new Business Profits Tax Law. Businesses are advised to monitor developments related to finalizing the tax rules for implementation in 2025 and the phased approach for advance tax payments. | | | | | As the Kingdom of Saudi Arabia embraces a future of environmental sustainability, it has unveiled significant moves to tackle climate change and land degradation. The establishment of the first national sustainability committee, alongside the hosting of COP16 at Riyadh, marks key moments for the country’s green transformation. | | | | | The Osek Za’ir simplifies taxation for small businesses with annual turnovers up to ILS 120,000 (around US$32,340). Key benefits include a 30 percent automatic expense deduction, removing the need for detailed record-keeping of costs like pensions and donations. This streamlined process reduces administrative burdens, enabling entrepreneurs to focus on business growth. |
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COMPLIMENTARY BUSINESS RESOURCES: |  | | | | | With its strategic geographic position, rapidly expanding industrial infrastructure, and government initiatives aimed at enhancing the logistics environment, Vietnam offers a wealth of opportunities for both domestic and international investors. This issue of Vietnam Briefing Magazine will serve as a key resource for investors seeking to enter this dynamic market. | | | | | 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. | | | | | This India Briefing Magazine edition explores India’s evolving trade landscape, covering regulatory reforms, manufacturing clusters, and trade partnerships. It provides insights into structuring trading entities, leveraging industrial hubs for export production, and diversifying markets to boost competitiveness and mitigate geopolitical risks. |
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UPCOMING EVENTS FOR ASIA: | | | Webinar | Monday, December 16, 2024 | 2:30 PM India / 4:00 PM Vietnam / 5:00 PM China | | | | | Webinar | Tuesday, December 17, 2024 | 4:00 PM China Time / 3:00 PM Vietnam Time / 9:00 AM CET | | | | | Webinar | Thursday, December 19, 2024 | 4:00 PM China / 9:00 AM CET / 8:00 AM UK |
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