News

Clarification on Income Tax by Saudi Arabia
KSA
Clarification on Income Tax by Saudi Arabia
Posted on 25 July 2020
In an interview with Bloomberg, Mohammed Al Jadaan, the Finance Minister of Saudi Arabia had said that the Kingdom did not rule out the possibility of Income Ta..
Ratification of MLI: Oman One step closer to preventing BEPS
Oman
Ratification of MLI: Oman One step closer to preventing BEPS
Posted on 13 July 2020
7thof July, 2020 marked the day an Instrument of Ratification to the MLI was submitted by Oman with the OECD. Oman became the 92ndjurisdiction to sign the Mu..
FTA defers Excise Tax Payment
UAE
FTA defers Excise Tax Payment
Posted on 14 April 2020
UAEs Federal Tax Authority (FTA) has decided to extend the tax period for businesses registered for Excise Tax, which commenced on 1/3/2020 for one month on an ..
Bahrain government has decided to waive off VAT on utility bills
Bahrain
Bahrain government has decided to waive off VAT on utility bills
Posted on 30 January 2020
Bahrains Council of Ministers has decided that the government of Bahrain will bear the VAT due on electricity and water tariffs borne by Bahraini citizens and e..
Facebook announces 5% VAT on ad services in UAE
UAE
Facebook announces 5% VAT on ad services in UAE
Posted on 17 December 2019
Social Media giant Facebook announced value-added tax (VAT) at 5% on the sale of advertising service in UAE. Read more at:https://www.khaleejtimes.com/business..
GAZT releases practical guidance for filing CbCR
KSA
GAZT releases practical guidance for filing CbCR
Posted on 05 December 2019
Saudi Arabias General Authority of Zakat and Tax (GAZT) has released their practical guidance for filing of CbCR. The CbCR shall be due on 31 December 2019. If ..
GAZT publishes CbCR link
KSA
GAZT publishes CbCR link
Posted on 05 December 2019
Saudi Arabias General Authority of Zakat and Tax (GAZT) has published its Country by Country Reporting Link. Access CbC portal:https://fatcaaeoi.gazt.gov.sa/..
Order Digital Tax Stamps from 1st Nov
UAE
Order Digital Tax Stamps from 1st Nov
Posted on 04 November 2019
As perFederal Tax Decision No. 2 (2019),the Federal Tax Authority (FTA) is implementing the marking of Tobacco and Tobacco products on water pipe tobacco and el..
FTA Publishes guide on professional standards for tax agents
UAE
FTA Publishes guide on professional standards for tax agents
Posted on 24 July 2019
How to become a Tax Agent? The Federal Tax Authority shall review the application and provide a preliminary approval when an applicant meets the below mentio..
Public Transportation
UAE
Public Transportation
Posted on 20 May 2019
VAT Public Clarification VAT Public Clarification Issue Article 34 of Cabinet Decision No. 52 of 2017 on the Executive Regulations of the Federal Decre..

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