INSIGHTS
Qatar’s tax framework is underpinned by precise regulations aimed at ensuring clarity, compliance, and fairness in taxation. Article 3, which defines income realized in the state, is a cornerstone of this structure. This article outlines the types of income subject to taxation in Qatar, providing a comprehensive guide for businesses,
The Saudi Arabian VAT system is designed to ensure compliance while maintaining a streamlined approach for businesses. Here are some critical elements outlined in Articles 27 and 28 that every taxable person in the kingdom should be aware of. Article 27: Payment of Net Tax and Tax Periods Regulations Determine
The introduction of Value Added Tax (VAT) in the UAE, through the Federal Decree-Law No. 8 of 2017, marked a significant shift in the country’s fiscal landscape. Since then, the VAT framework has evolved to accommodate the complexities of modern business operations. A notable development in this evolution is the
With the enforcement of Federal Decree-Law No. 47 of 2022, corporate tax registration has become a critical compliance requirement for all taxable persons, including non-resident juridical entities. This regulation emphasizes the importance of ensuring that all entities operating within the UAE’s jurisdiction adhere to the corporate tax framework. In particular,
The UAE’s tax landscape continues to evolve, with businesses needing to stay up-to-date to ensure compliance. The recent Cabinet Decision No. 108 of 2023, issued on November 6, 2023, introduces significant updates to the Federal Decree-Law No. 7 of 2017 on Excise Tax, particularly regarding the release of excise goods
Introduction As we enter 2025, the GCC’s tax landscape continues to evolve, driven by economic diversification and fiscal reforms. This edition of ACME Group’s tax newsletter highlights key developments that took place in 2024, including VAT refinements, corporate tax updates, and advancements in digital tax systems. Key updates to watch
The introduction of Value Added Tax (VAT) in Oman, through Royal Decree No. 121/2020, has brought significant changes to the country’s taxation system. A critical element of the VAT framework is the determination of the Taxable Value of goods and services, as outlined in various articles of the law. These
The landscape of Value Added Tax (VAT) in the UAE has evolved significantly since its introduction, with ongoing updates providing businesses with clearer guidance on their obligations. One such update is Cabinet Decision No. 100 of 2024, which outlines the procedures for VAT deregistration under Federal Decree-Law No. 8 of
As businesses navigate the complexities of Excise Tax, several pressing questions arise, particularly for those with long-term agreements at fixed prices. Below, we address common concerns and provide guidance on managing obligations effectively. Excise Tax on Stock with Fixed-Price Agreements Question: If our company has a long-term agreement with customers
CABINET DECISION NO. (5) OF 2019 ISSUING THE EXECUTIVE REGULATIONS OF LAW NO. (25) OF 2018 In Qatar, excise tax regulations play a pivotal role in managing goods that are subject to special tax treatment. The tax system ensures that both producers and importers are held accountable for the excise
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