UAE introduces Country by Country reporting

Thomas Vanhee December 6, 2019

By way of a Cabinet Resolution, the UAE has introduced Country by Country reporting (“CbC reporting”). Almost simultaneously with the introduction of economic substance regulations, the UAE further implements international tax standards and joins around 80 other countries which have implemented the CbC reporting. The impact of this reporting on international corporations in the UAE cannot be understated.

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Blockbuster bankruptcies and tax in the Gulf

Thomas Vanhee December 2, 2019

The UAE and the wider GCC in recent times have seen a few blockbuster bankruptcies with the downfall of Abraaj and Drake & Scull undergoing substantial restructuring to name just a few.

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Does the newly issued UAE economic substance guidance answer all questions?

Thomas Vanhee September 5, 2019

Earlier this year, the United Arab Emirates (“UAE”) issued Cabinet Decision No. 31 concerning economic substance requirements (“Economic Substance Regulations” or “ESR”).

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10 things to know about the UAE’s Country by Country Reporting

Thomas Vanhee August 31, 2019

The UAE is a popular destination for foreign entities to set up their businesses in the Middle East region, amongst others because there is no corporate income tax on the federal level.

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KSA amends VAT implementing regulations

Thomas Vanhee July 23, 2019

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Just how spectacular are the new UAE Economic Substance Regulations for the UAE?

Thomas Vanhee July 1, 2019

On 30 April 2019, the United Arab Emirates (“UAE”) issued Cabinet Decision No. 31 concerning economic substance requirements (“Economic Substance Regulations”).

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Ramadan generosity can be costly for VAT

Thomas Vanhee June 4, 2019

The Holy Month of Ramadan is the ninth month of the Islamic calendar, observed by Muslims worldwide as a month of fasting, prayer, self-reflection and enhanced community spirit.

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UAE economic substance requirements to be implemented

Thomas Vanhee May 8, 2019

With the impending publication of the drafting of an economic substance law in the UAE, it is important to anticipate the consequences of the introduction of such a law on the UAE and offshore structures in the UAE

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Bahrain Real Estate and VAT

Thomas Vanhee April 3, 2019

In March 2019, the NBR published its fourth VAT Guide, i.e. the VAT Real Estate Guide. This guide aims to provide an overview of the rules and procedures regarding real estate in Bahrain as well as the necessary background and guidance to help taxable persons determine how a supply is treated for VAT purposes

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KSA Transfer Pricing obligations

Thomas Vanhee March 31, 2019

Early 2010’s, following the financial crisis and multiple tax scandals, such as the Panama papers and LuxLeaks, the BEPS initiative was launched by the OECD and the G20. The BEPS initiative is a set of international recommendations meant to prevent Base Erosion and Profit Shifting (international tax avoidance).

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UAE introduces Country by Country reporting

Blockbuster bankruptcies and tax in the Gulf

Does the newly issued UAE economic substance guidance answer all questions?

10 things to know about the UAE’s Country by Country Reporting

KSA amends VAT implementing regulations

Just how spectacular are the new UAE Economic Substance Regulations for the UAE?

Ramadan generosity can be costly for VAT

UAE economic substance requirements to be implemented

Bahrain Real Estate and VAT

KSA Transfer Pricing obligations

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