Author

Laya Aoun-Hani

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The Kingdom of Saudi Arabia (KSA) has announced to triple the rate of VAT to 15%, which will come to effect on 1 July 2020. This is a significant rate increase and one of the fiscal measures taken by the KSA Government to mitigate the negative effects of the COVID-19 pandemic and other macro-economic developments on public finance. The increased rate is expected to apply to all supplies of goods and services that are currently…

The COVID-19 pandemic continues to have a heavy impact on the global economy. The spread of the virus is constraining the supply and demand for goods and services. As a result, companies are considering the potential cancellation of contracts and the impact on their cash flows. In this special edition of the Middle East Tax Newsletter, we set out the VAT aspects of the potential cancellation of contracts. We also provide suggestions to optimize cash…

Leading international law firm Baker McKenzie is pleased to announce that it took home eight regional and national awards at the 15th annual International Tax Review (ITR) European Tax Awards, including the first ever “GCC Tax Firm of Year” award. Firms and in-house tax teams from 26 countries competed for these awards, which were presented during a gala dinner at London’s Savoy Hotel on 16 May 2019.