Saudi Arabia: Simplifying Expat Worker Fees
The Council of Ministers of Saudi Arabia revealed a decision to ease the levy on employer of expat workers. According to the new measures companies with nine or fewer employees will be able to employ up to four expat workers without paying the
See MoreArgentina-UAE: Tax Treaty under negotiations
The Ministry of Finance of the United Arab Emirates has released negotiations for a tax treaty between Argentina and the United Arab Emirates are underway on June 17,
See MoreWithholding tax rates within DTA between Mexico and UAE
The DTA between Mexico and UAE of 2012 have signed on November 20, 2012. The maximum withholding tax rates are 4.9% on interest paid to banks and 10% on interest paid to rest of the cases. The treaty normally follows OECD model and will apply
See MoreQatar: Tax Exemption rejected for overseas Investors
Advisory Council of Qatar has rejected a proposal to exempt foreign investors from income tax and capital gains on local equity market investments. On February 19, 2014, the State Cabinet had approved a draft law by the Financial and Economic
See MoreUAE – Montenegro: DTA enters into force
Income and Capital Tax Treaty between The United Arab Emirates and Montenegro have entered into force on December 10, 2013 and generally apply from 1 January
See MoreKenya: Presented Budget for 2014-2015
Kenya announced its budget for the year of 2014-15 on 12 June 2014. The budget has emphasized on several tax proposals: Propose tax rates for resident companies at 30% (previously it was 10%) and for non-resident companies at 37.5% (previously it
See MoreUganda: Released budget for 2014
Budget for 2014 was released on 12 June 2014, which reflects the GPD growth by 5.7% for 2013/14 finance year and declined by 0.1% compared to the previous year. The budget has emphasised on the measures to raise revenues, improve transparency in
See MoreRomania plans to cut social security contributions
The Romanian Government is planning to cut social security tax paid by the employers by five percentage points though the plan has not been approved by the International Monetary Fund (IMF). Romania's Prime Minister, Victor Ponta, has confirmed this
See MoreAngola introduced transfer pricing rules
Angola introduced a transfer pricing rule with a Presidential Decree n. 14713 on June 2014. According to the decree, the taxpayers require to submit transfer pricing documentation by the end of June 2014 to the tax management for the 2013 tax year.
See MoreA double tax treaty between Portugal and Senegal signed
A double tax treaty between Portugal and Senegal signed in Lisbon, on 13 June 2014, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreTurkey: Consolidation of VAT guidance in single communique
The tax administration in Turkey has previously issued all Value Added Taxes that have been repealed and replaced by a single communique and the new VAT communique is effective from May 1,
See MoreEgypt: Imposes exit tax on tourists
Egypt is now introducing USD25 airport departure tax to flight fares to boost revenue for the cash-strapped state. The charge, which was announced, is in addition to the cost of an entry visa. It is be afraid of that the levy will be a further
See MoreUAE and US Signed Provisional FATCA Agreement
The United Arab Emirates (UAE) and US signed an Intergovernmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) of United States. The US congress enacted FATCA in 2010, taking effect on July 1, 2014, desire to ensure
See MoreUAE – Lithuania: DTA approved
The Cabinet of United Arab Emirates has approved the Double Taxation Agreement (DTA) with Lithuania on June 9,
See MoreSouth Africa and US signed IGA
The Government of US and South Africa signed an inter-governmental agreement (IGA) on June 9, 2014. The provision of reciprocal exchange of information includes in the agreement, where financial institutions in South Africa require report
See MoreEgypt: New capital gains tax introduced
Egypt’s finance minister has announced the introduction of a 10% capital gains tax on profits made on the stock market. The council of ministers also agreed to impose a 10% tax on net capital gains that individuals make at the end of the tax
See MoreQatar and Kyrgyzstan sign intergovernmental agreement on double taxation avoidance
The governments of Qatar and Kyrgyzstan signed an intergovernmental agreement on the double taxation avoidance and prevention of Fiscal Evasion with respect to income tax on first of June, 2014. The agreement aims to avoid the tax double payment in
See MoreLithuania-UAE: DTA approved by UAE
The United Arab Emirates' cabinet has allowed the Lithuania - United Arab Emirates Income Tax Treaty on June 9,
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