According to local news reports, Bahrain Plans to Introduce Corporate Tax once a consensus is reached on the taxation framework. Aligned with the global efforts led by the Organization for Economic Co-operation and Development (“OECD”) to establish a minimum corporate tax rate, Bahrain is fully committed to embracing this direction and seeks to adopt a...
On 17 May,2023 ZATCA has recently released a Circular regarding the Taxation of the Permanent Establishments (PE) in KSA in the context of the Double Tax Avoidance Agreements (DTAAs).
ZATCA has officially announced the implementation date for the profit margin scheme for used cars in Saudi Arabia. Eligible taxpayers engaged in supplying qualified used cars will commence the application of the scheme from July 1, 2023.
On 22 May 2023, Oman and Egypt signed a DTAA, which remarks a major step in boosting the commercial and trade ties between the two nations.
On 16 May 2023, Council of Ministers published Decision No. 3 of 2023 (Amended Regulations) in the State of Qatar to introduces amendments to the Executive Regulations of the Income Tax Law:
MOF issued Cabinet Decision No. 127 on Unincorporated Partnership, Foreign Partnership and Family Foundation states:
MOF issued Cabinet Decision No. 126 on General Interest Deduction Limitation Rule states:
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