The Hungarian tax authority has issued a notice on 10 December 2024 regarding the new Small Enterprises (SME) VAT scheme for small businesses under Council Directive (EU) 2020/285. The SME will take effect on 1 January 2025. Under the new scheme,

Dubai is reportedly planning to reintroduce a 30% alcohol sales tax effective 1 January 2025, reversing a policy that suspended the tax in 2023 to boost tourism. The announcement, communicated by major alcohol distributors MMI and African+

Dubai has released Administrative Decree No. 107 of 2024, detailing the application of a 20% annual tax on foreign banks' taxable income. The tax applies to all foreign banks operating in Dubai, including those in special development and free

The UAE Ministry of Finance has announced that it has updated certain provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses on 9 December 2024. These amendments include introduction of a Domestic Minimum

Hungary’s Tax and Customs Agency has released the updated version of the GloBE data sheet on 5 December 2024. The data sheet features technical enhancements and detailed field definitions to simplify XML completion and includes a User

The Bahrain Council of Representatives approved the ratification of the income tax treaty with the United Arab Emirates (UAE) on 3 December 2024. Bahrain's ratification of the two agreements on income taxes and the prevention of tax evasion and