The UAE will introduce a 9 per cent corporate tax on business profits of more than Dh375,000 ($102,000) from June 1, 2023, the Finance Ministry said, in a major change of course, as the country seeks to diversify its income. For the UAE, the regional headquarters for a swathe of multinationals, the move marks a … Read more
RIYADH: Saudi Finance Minister Mohammed Al-Jadaan revealed that there will be no reduction in value-added tax (VAT) in the near future, but it would be considered when public finances improve in several years, Arab News reported. The goal of the VAT is to deal with the shock of the Corona pandemic, he said. There will be no … Read more
Saudi Arabia has no plans to introduce an income tax, and the 15% triple value-added tax introduces last year in July was temporary, said Saudi Arabian Crown Prince Mohammed Bin Salman in a recent TV interview on Tuesday. This decision has made shocked the citizen of the Kingdom and it also affects the businesses who … Read more
The Federal Board of Revenue (FBR) has decided in principle to move towards replacing the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for all sectors under the World Bank funded loan conditions. Under the proposed reform plan on which the implementation was so far deferred till establishment of Pakistan … Read more
