Kuwait News
Saudi Arabia Readies For Value-Added Tax
by Lorys Charalambous, Tax-News.com, Cyprus
Wednesday, July 26, 2017
Saudi Arabia has released draft regulations for the introduction of value-added tax for consultation, following recent approval of the tax framework from lawmakers. Read Full Story
IMF Praises Saudi Tax Reforms
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, July 24, 2017
Saudi Arabia has received praise for the International Monetary Fund for recent and planned indirect tax reforms, to broaden the tax base away from oil, but said the timetable for introducing value-added tax could be challenging. Read Full Story
UAE To Exempt Residential Property From VAT
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, July 17, 2017
The United Arab Emirates' Ministry of Finance has confirmed that residential property will be exempt from the Gulf Cooperation Council value-added tax when it comes into force in January 2018, but that a five percent rate will apply on sales or leases of commercial property. Read Full Story
Kuwait Signs OECD's Multilateral Tax Pact
by Ulrika Lomas, Tax-News.com, Brussels
Monday, May 8, 2017
Kuwait became the 110th jurisdiction to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on May 5, 2017. Read Full Story
Kuwait Central Bank Opposes Tax On Expat Remittances
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, May 5, 2017
The Governor of Kuwait's Central Bank has said he opposes calls to introduce a remittance tax in the country, saying that the measure would damage its economy and financial reputation. Read Full Story
Qatari Cabinet Approves VAT
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, May 5, 2017
Qatar's Cabinet has approved the introduction of value-added tax at a five percent rate, as part of an initiative among Gulf Cooperation Council states. Read Full Story
Merkel Hopes EU Will Complete FTA With Gulf Nations
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, May 3, 2017
German Chancellor Angela Merkel held a number of meetings recently to push the conclusion of a free trade agreement with the Gulf Cooperation Council (GCC) nations – Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar, and Oman. Read Full Story
Saudi Arabia Approves GCC 'Sin Tax'
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, April 18, 2017
Saudi Arabia's Shura Council has approved the introduction of the "selective tax," being rolled out across the Gulf Cooperation Council (GCC) member countries. Read Full Story
BEPS Inclusive Framework Meeting Held In Georgia
by Ulrika Lomas, Tax-News.com, Brussels
Monday, April 17, 2017
50 delegates from 14 countries gathered in Georgia on April 7, 2017, to participate in the second regional meeting for the Eastern Europe and Central Asia region under the OECD's new inclusive base erosion and profit shifting project framework. Read Full Story
Taiwan Explains VAT Refunds For Foreign Exhibitors
by Mary Swire, Tax-News.com, Hong Kong
Monday, March 20, 2017
Taiwan's national tax authority has released guidance on VAT refunds for foreign exhibitors, following a number of questions received from overseas firms. Read Full Story
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