VAT
Isle of Man chief minister defends tax treatment
After bearing the brunt of media scrutiny over the Paradise Papers, Isle of Man chief minister Howard Quayle has said an internal review “found no evidence of wrongdoing”.
Middle East | 4 Sep 17
Saudi Arabia opens registration for VAT to top up oil revenue
Saudi Arabia has opened registration for the new 5% value added tax (VAT), which begins on 1 January next year as part of a move to diversify its economy away from a reliance on oil revenues.
Middle East | 3 Aug 17
UAE takes a major step towards introduction of VAT in 2018
The United Arab Emirates has passed a law which paves the way for the introduction of a new 5% value added tax (VAT) on goods and services from 1 January 2018.
China cuts and delays VAT levy on asset managers again
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
Middle East | 28 Mar 17
Financial advice hit by UAE value-added tax, not life products
Details of the VAT system to be introduced for the first time in the UAE reveal that the standard rate of 5% will be levied on fee-based financial advice but not on the sale of life products.