Current issue:
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Iraq – Top tax issues facing
foreign investors For foreign investors, Iraq offers tremendous opportunities. As the country emerges from years of conflict and economic sanctions, its government is undertaking massive reconstruction projects to restore its infrastructure and develop its economy. As its security improves and its stability rises, Iraq is on track to return to its pre-war prosperity. Read more |
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Kuwait – Updates on declarations & assessments, Zakat & contracts in the PNZ The Kuwait tax law is brief and its application very much depends on the practice of the Kuwait Tax Authority (KTA). In the past, the KTA has issued Circulars and Executive Rules that set out guidance on tax administrative matters and the deductibility of expenses allowed for Kuwait tax purposes during the mandatory annual tax inspection, which is carried out on all tax declarations submitted. The most recent set of Executive Rules and Regulations was issued by the KTA in 2010. However, the KTA is known to be inconsistent in its practices, which change from time to time without prior notice. Read more |
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Oman – VAT, penalties, taxpayer services & other developments Secretary General for Taxation highlights key tax changes |
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Qatar – Key tax compliance issues for new inbound investors Foreign investors who are thinking about investing Qatar
should carefully consider the compliance requirements imposed by
Qatar Tax Law No. 21 of the year 2009. Below we highlight some
of the key tax compliance issues. |
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Sri Lanka – Round-up of income & indirect tax reforms Sri Lanka is known for its intricate web of taxes. In the past three years, many of these taxes have been subject to changes that aim to attract more foreign investment. Read more |
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United Arab Emirates – New treaties, new free zone & other updates Recent tax developments in the United Arab Emirates (UAE) of note to foreign investors include newly signed tax treaties, emerging difficulties in obtaining tax residence certificates, changes in review procedures for banks in Abu Dhabi, and the introduction of a new financial free zone. Read more |