Tuesday 21 October 2014
 
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taxes

Importers ‘misusing Bahrain’s FTA with US’

Importers in Bahrain have been accused of trying to misuse the kingdom's Free Trade Agreement (FTA) with the US to avoid paying taxes, a report said. Bahrain's Sea Ports Customs Affairs directorate recorded 100 trade viola

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Bahrain offers big benefits for the elderly

The elderly in Bahrain will enjoy a massive 50 per cent reduction of fees on a wide range of services including construction, property deeds and municipal taxes on renting houses and flats, a report said. The elderly will be suppl

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Jordan approves steps to reduce deficit

The Jordanian cabinet approved an austerity package that includes plans to raise taxes on banks and mining firms but avoids controversial fuel and electricity price rises to hold down the rise in the budget deficit, officials said on Sunday.

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Apple 'avoiding billions of dollars in taxes'

Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company's profits, The New York Times reported yesterday. The report said an office in Reno, Nevada, whe

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Saudi tobacco imports up 57pc in 2011

Saudi Arabia imported 57,838 tonnes of tobacco in 2011 valued at SR3.3 billion ($880 million), marking a rise of 57 per cent over the figure for 2009, which reached SR2.104 billion, said a report. The import volume was considered to be ver

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Obama makes job, tax case to big donors

President Barack Obama made the case for his re-election and his jobs plan at two big-ticket fundraisers on Thursday, emphasising the importance of higher taxes to pay for his $447 billion proposal. "We can pay for it in a way that is res

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China not cutting agriculture import taxes

China has no imminent plans to cut taxes on imports of agricultural commodities, a government official who has direct knowledge of the situation said on Monday. Normally the tariff commission of China's Ministry of Finance would hold a

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Bahrain govt rules out power subsidy cuts

Bahrain's government has no plans to stop subsidising electricity and water rates, Electricity and Water Affairs Minister Fahmi Al Jowder told our sister newspaper Gulf Daily News (GDN). He said that despite a huge budget shortage in t

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Mideast tax laws 'less complex'

The Middle East has fewer and less complex tax laws in the world, according to an international report. Paying Taxes 2011 is an annual report issued by PricewaterhouseCoopers (PwC), the World Bank and International Finance Corporation.

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Middle East firms 'must tap Africa'

Middle East-based firms have been some of the key investors in Africa and despite a plethora of taxes and the global downturn, the continent continues to offer companies strong growth potential, said analysts. Being the second largest and

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