GCC and Egyptian developments and implementation considerations
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What companies and Governments can do to make tax less taxing in the Middle East
Stay abreast of latest developments in the region
We are pleased to share with you our July edition of the PwC GCC VAT Newsletter on the latest VAT developments in the GCC Region.
Changes to the immigration regimes across the GCC countries continues to accelerate at a rapid pace in 2018 with updates and developments being announced on an increasingly regular basis.
Welcome Keeping up with the constant flow of international tax developments worldwide can be a real challenge for multinational companies. International Tax News is a monthly publication that offers updates and analysis on developments taking place around the world, authored by specialists in PwC’s global international tax network.
Since our last GCC Roundup in April 2018, the reform and updating of existing immigration and employment laws across the GCC, as well as the introduction of new laws, has continued to intensify. GCC governments have been increasingly keen to facilitate the diversification of their economies by attracting inward foreign direct investment, liberalising and reviving the market for economic competitiveness and generally catering to the needs of the local population.
The Abu Dhabi Global Market (ADGM), one of the two Financial Free Zones in the UAE, is set to welcome crypto asset businesses as the Financial Services Regulatory Authority (FSRA), ADGM’s financial regulator, issued its new guidance on the “Regulation of Crypto Asset Activities in ADGM” on 25 June 2018 (New Guidance)
We are pleased to share with you our June edition of the PwC GCC VAT Newsletter on the latest VAT developments in the GCC Region.
Bahrain joined the OECD Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”) on 11 May 2018.
The United Arab Emirates (“UAE”) has signed the Multilateral Convention (“MLI”) to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“BEPS”) issued by Organisation for Economic Co-operation and Development (“OECD”) on 27 June 2018, bringing the total number of participating jurisdictions to 81.
Mark Schofield
Tax and Legal Services Leader, PwC Middle East
Tel: +971 (0)4 304 3100
Email
