Friday 27 February 2015
 
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Gulf states plan key talks on value-added tax

Gulf states are pursuing discussions on plans to introduce value-added tax (VAT) in the region, with a meeting scheduled later this month aimed at resolving points of contention, a UAE finance official said. The six nations of the

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Firms in new Suez Canal hub to pay only 10pc tax

Egypt's investment minister said companies participating in a planned economic hub in the Suez Canal area will pay 10 per cent tax, just a third of the national corporate rate, state media reported on Friday. Egypt plans to bu

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Saudi Arabia plans to tax undeveloped land

Saudi Arabia's housing ministry is moving to tax undeveloped land, official media quoted the housing minister as saying, in a policy that could help to end a shortage of homes and spur economic growth. Much urban land in the k

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Oman panel rejects tax move on expats

The economic committee of Oman's State Council has rejected a proposal to impose tax on remittances by expatriates, a report said quoting a senior official. The proposal had been made by the Majlis Al Shura. Sal

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UAE, Hong Kong in deal to avoid double taxation on income

The UAE signed a deal for the avoidance of double taxation on income with Hong Kong, during a meeting between businessmen and commercial banks from both parties in Dubai, UAE. The agreement was signed by Obaid Humaid Al Tayer, Min

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Jordan rejects IMF-proposed new taxes

Jordan’s Finance Ministry has rejected proposals from the International Monetary Fund (IMF) to increase sales and other taxes, according to a report. It has presented a package of alternative measures to increase revenues an

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New global plans aim to crack down on tax avoidance by firms

Plans for a major rewriting of international tax rules unveiled on Tuesday could eliminate structures that have allowed companies like Google and Amazon.com to shave billions of dollars off their tax bills. The Organisation for Ec

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India taxation move 'to attract GCC investment'

Non-Resident Indians (NRIs) in Bahrain foresee an influx of GCC investment in India in the coming years, with the debut budget of the new Indian government clarifying its stance on retrospective taxation.   Prime

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Egypt imposes tax on capital gains, dividends

Egypt's president has approved a law imposing a new 10 per cent tax on capital gains and stock dividends, as the country seeks to revive an economy battered by more than three years of political turmoil. The tax applies to div

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Egypt extends 5pc supplementary tax to firms

Egypt extended a 5 percent supplementary tax to include companies as well as wealthy individuals, drawing a mixed response from businesses on Monday as it seeks ways to boost flagging state revenues under a new president. Egypt

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