UNITED ARAB EMIRATES
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Since our last update, the FTA has released several public clarifications on VAT, issued a Cabinet Decision on the expansion of Excise Tax and introduced both Economic Substance Regulations and Country by Country Reporting.The most important of these updates are summarized below:VALUE ADDED TAX...
Following the release of Cabinet Decision No. 31 on Economic Substance requirements (“ESR”) earlier this year, the UAE Ministry of Finance has now published Ministerial Decision No. 215, which provides guidance on the implementation of the ESR test.Key points from the guidance:Licensees: As per...
UAE recently published the Economic Substance regulations which require certain businesses to demonstrate that they have genuine substance in the UAE. They also bring new reporting requirements. Non-compliance may result in penalties, loss of tax treaty reliefs and revocation or non-renewal of...
This edition informs readers of the issues of practical importance in the field of VAT and similar indirect taxes, such as GST. Experts from all over the world provide first-hand information on recent developments in legislation, jurisdiction and tax authorities’ opinions and directives. https...
Saudi Arabia finalizes Transfer Pricing Bylaws BDO-Alert-Saudi-Arabia-April-2019
On behalf of the BDO Indirect Tax Centre of Excellence, we are pleased to inform you that issue 1/2019 of the BDO Indirect Tax News is now available online here.This newsletter informs readers about issues of practical importance in the field of VAT and similar indirect taxes, such as GST...
We live in exciting times and our world is undergoing unprecedented change. The BDO story is an amazing one, and our achievements to date give us a strong foundation – but we make sure always to look to the future. That’s why we support International Women’s Day and its underlying premise that...
Insights into the draft Transfer Pricing Bylaws issued by The General Authority for Zakat and Tax, Saudi ArabiaBDO-Alert-Saudi-Arabia-(1).pdf
We are pleased to present BDO’s first VAT newsletter of 2019. 2018 was an important year for taxation in the United Arab Emirates, with VAT being implemented from 1 January 2018. In this edition of the newsletter, we highlight the important events and news from the first year of VAT and look...