Bahrain’s Economic Landscape: Ahmed Al-Sallum Unveils Taxation Laws Debate Ahmed Al-Sallum, a member of Bahrain’s Chamber of Representatives’ Finance and Economic Affairs Committee, revealed insights to AlAyam on the joint government-parliament session discussing corporate taxation laws. One bill proposes a 5% profit tax for medium to large enterprises, while another suggests a 30% tax for […]

The Saudi Tax and Customs Authority (ZATCA) has unveiled the Comprehensive Guidelines on zakat, taxes, and customs regulations for the Special Integrated Logistics Zone (SILZ). Established towards the end of 2022, SILZ stands as a free-trade logistics hub adjacent to King Khalid International Airport in Riyadh, offering connectivity to railways, metro lines, and a network […]

In February 2021, Saudi Arabia announced its intention to cease awarding government contracts to companies whose regional headquarters are located outside the country starting January 1, 2024, with certain exceptions. The program to attract international companies to establish regional headquarters in Saudi Arabia is a joint initiative of the Ministry of Investments and the Royal […]

Citizenship and residency by investment (CBI/RBI) programs are governmental initiatives designed to expedite or bypass standard immigration procedures, granting citizenship or residency to foreign investors. While these programs have the potential to stimulate economic growth through increased foreign investment, they’ve also become magnets for individuals seeking to exploit loopholes for criminal activities, laundering large sums […]

The EU Tax Observatory released a report on global tax evasion in 2024, focusing on various practices beyond mere tax fraud. These practices range from clearly illegal actions like failing to report income in offshore accounts to grey areas like shifting profits to shell companies lacking economic presence. Some tactics, such as moving to jurisdictions […]

The UAE Tax Authority (FTA) has released a new Guide offering 25 examples and explanations on transfer pricing (CTGTP1). The document takes into account OECD recommendations and is based on the Corporate Tax Law, emphasizing the importance of using this Guide for taxpayers. It covers a wide range of issues, including intra-group service situations and […]

The UAE Tax Service has released a comprehensive guide along with 28 examples aimed at illustrating the application of strategic participation exemption rules concerning dividends and capital gains (CTGEXI1). These clarifications come as a much-awaited resource, given my observation that not everyone has had sufficient time to delve into the conditions and requirements outlined in […]

The UAE’s Federal Tax Authority (FTA) has released a new guide featuring 41 examples and cases for non-residents deriving income from UAE sources and subject to corporate profit tax. The guide outlines the obligations for both non-resident individuals and entities, including: Mandatory registration for non-resident individuals if turnover related to their permanent establishment in the […]

The European Commission has announced a set of initiatives under the name “Business in Europe: Framework for Income Taxation” (#BEFIT), establishing unified rules for determining the tax base for groups of companies and the CFC. New Taxation Standards: BEFIT replaces the previously withdrawn CCTB and CCCTB concepts. Mandatory Application: Groups with an annual income of […]

In March, Romania and Bulgaria anticipate their inclusion in the Schengen area, following significant negotiations with Austria. The Romanian government shared this optimistic update, indicating the imminent resolution of longstanding opposition from Vienna. Austria had long been against this expansion, citing concerns over border security and migration. However, recent discussions hinted at a possible shift […]