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Tax
Bahrain
Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025
This new framework for MNEs is fully in line with the guidelines set by the OECD
Banking & Finance
2.7 million tax free tags issued in UAE’s digital VAT refund system for tourists in H1 2024
UAE's digital VAT refund system processed 19.67 million transactions during this period
Economy
Manufacturing sector’s 9.2 percent expansion boosts Oman’s economic growth in Q1 2024
Oman's 10th Five-Year Plan aims to boost manufacturing's GDP contribution from 10 percent to 12.2 percent by 2025
Banking & Finance
UAE nationals receive $691.53 million in home construction tax refunds from FTA
This covers the period since the service was launched and until the end of the first half of 2024
Economy
Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures
The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June
Banking & Finance
Egypt’s primary budget surplus soars 6.1 percent in 2023/24, driven by UAE investment and tax revenues
Expenditure amounted to $61.25 billion, with a budget deficit of 3.6 percent
Economy
G20 pushes for great fortunes tax to fund climate disaster preparedness
The G20 DRRWG meeting focused on the critical importance of financing for resilient infrastructure and early disaster risk warnings
Real Estate
UAE citizens can now claim VAT refunds for new home construction via new smart app
The move aims to provide the world's best government services by eliminating bureaucracy and adopting efficient models
Banking & Finance
UAE, Qatar sign double taxation avoidance agreement
The UAE has signed 146 double taxation avoidance agreements to date
Banking & Finance
Foreign banks in Dubai to pay 20 percent tax on annual taxable income
If the banks pay corporate tax, then this amount will be deducted from their total tax liability
Economy
UAE government issues 151 financial sector decisions in 2023
Sheikh Mohammed bin Rashid reviews progress and international standing
Economy
Egypt’s 50 percent minimum wage hike to take effect in March
President implements urgent social protection package amidst currency concerns, IMF talks
Miscellaneous
Guide to VAT in the UAE 2024
What is it, what’s the standard rate and how does it work
Banking & Finance
Saudi Arabia offers 30-year exemption from corporate income tax for regional HQs in Riyadh
200+ companies already attracted to relocate headquarters to the Kingdom