This chapter contains an overview of the tax framework in which local and foreign investors operate, including a look ahead at the GCC value-added tax (VAT) framework that is being created and the considered implementation of a corporate income tax.
This chapter contains a viewpoint from Dean Kern, Middle East Tax and Legal Services Leader, PwC.
The emirate of Dubai, by virtue of being less generously endowed with hydrocarbons than its regional neighbours, has worked hard over the past several decades to develop a wider, more diversified economic bedrock to power growth. As a result the emirate has several sectors whose growth is not wholly contingent on hydrocarbons revenues, and which continue to prosper in the current environment.
The importance of taxation in any economy cannot be overemphasised, and its effects remain significant. It helps greatly in the redistribution of income and gives the government funds that it can use to finance public services such as provision of adequate national security, public infrastructure, social security services, power, a network of...
The recent global economic recession and diminished oil prices have burdened the government with the desire to raise revenue from tax without stunting economic growth. There is a need to capture the sources by which the government could widen its tax net and increase revenue generation without overburdening the taxpayer. Outlined below are...
A transfer price is the price charged between related parties (e.g., a parent company and its controlled foreign corporation) in an intercompany transaction. For example, if a subsidiary company sells goods to a parent company, the cost of those goods paid by the parent to the subsidiary is the transfer price. Transfer pricing (TP) could apply...
In conjunction with SIAO, OBG explores the taxation system, examining Nigeria’s investor-friendly environment.
OBG talks to Ituah Ighodalo, Managing Partner, SIAO, on strengthening the tax system and increasing revenues.
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