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.
Financial services VAT in Bahrain. KSA Transfer Pricing regulations. Tax Disputes Resolution Committees in the UAE. Oman Excise Tax Law. Read on for the most recent tax-related developments from across the Gulf Cooperation Council (GCC).
In the past year the United Arab Emirates (UAE) has witnessed a number of important developments in the area of compliance and financial crime which will have a significant impact on the risk exposure of companies operating in the UAE for the foreseeable future. Over time, collectively, these changes will have a profound impact on the compliance environment in the UAE, particularly as it relates to financial crimes, and companies can no longer approach compliance issues casually.
With Bahrain, Saudi Arabia and the UAE having introduced Value Added Tax, and other Gulf Cooperation Council members states to follow suit over the next year, businesses are operating in a new tax regime in the Middle East. Our Middle East Tax Newsletter aims to provide you with updates, insights and practical guidance on the tax implications of doing business in the region.
Over the past week, various reports from news outlets and other sources have suggested that some of the restrictions on the movements of goods between the United Arab Emirates (UAE) and Qatar imposed by the UAE, Saudi Arabia, Bahrain and Egypt (Boycotting States) in June 2017 as part of the boycott on Qatar have been partially lifted.