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For Germany and Europe as a whole, prioritizing financial resources will be an important first step

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The minister affirmed that the meetings between the two authorities have been productive, demonstrating mutual seriousness and responsibility in achieving the intended goals

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The Insurance Industry Is Struggling To Manage Increases In The Average Cost Of Claims, Due To Climate-change Impacts, Growing Risk Concentrations, And Steep Inflation On Motor Repair And Building Costs

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The official emphasized the need for greater facilitation in releasing raw materials and production inputs to support the industrial sector effectively

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ZATCA urged entities to promptly submit their VAT returns through the website, or through the authority's smartphone application ZATCA, to avoid penalties for late submission, which range from 5% to 25% of the declared VAT returns

\n","path":"https://www.zawya.com/en/economy/gcc/saudi-zatca-urges-businesses-to-submit-vat-returns-for-february-k8dtav5k","publishedDate":"2024-03-21T05:18:07.828Z","articleType":"NEWS","parent":{"title":"GCC","__typename":"Section"},"topMedia":{"baseUrl":"https://static.zawya.com/view/acePublic/alias/contentid/ZTllZWQxZjktYjE3NS00/17/180327112854dwek-jpg.webp","__typename":"Image"},"teaserHeadline":"","teaserText":"","overTitle":null,"teaserOvertitle":null,"teaserImage":null,"premiumType":"INHERIT","hideAuthor":true,"byline":"Staff Writer","authors":[],"tags":[],"__typename":"Article"},{"id":"contentid/ZTg3ZjdjOWEtYjUzNC00","title":"Kenya’s revenue collection leaps 19% to $1.1bln in July","lead":"

Doubling of VAT on fuel to 16% from July 1 contributed to the increase

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The business tax follows a 5% value added tax (VAT) introduced in 2018, gradually eroding the United Arab Emirates' tax-free status that helped it carve out a role as an international trade and tourism hub and magnet for the ultra-rich

\n","path":"https://www.zawya.com/en/economy/gcc/uae-begins-corporate-tax-roll-out-amid-diversification-push-lyes9w89","publishedDate":"2023-06-01T09:18:48.928Z","articleType":"NEWS","parent":{"title":"GCC","__typename":"Section"},"topMedia":{"baseUrl":"https://static.zawya.com/view/acePublic/alias/contentid/M2JmZDVmM2QtMmY2ZS00/23/1212488196.webp","__typename":"Image"},"teaserHeadline":"","teaserText":"","overTitle":null,"teaserOvertitle":null,"teaserImage":null,"premiumType":"INHERIT","hideAuthor":true,"byline":"Lisa Barrington","authors":[],"tags":[],"__typename":"Article"},{"id":"contentid/ZjI5ZDRkMDctYzZiZS00","title":"Saudi Arabia to hire house workers from Sierra Leone for first time","lead":"

The Ministry stated that all establishments that provide brokerage service in the recruitment of domestic workers must not exceed the highest ceiling of recruitment fee set by the Ministry

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The violations required the imposition of administrative fines in accordance with the VAT and Excise Law, it said

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The Central Bank of Oman has characterized the fixed peg regime as a “credible nominal anchor” for the Omani economy, helping also blunt the impact of surging inflation witnessed across the world in 2022

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Tax regime will complete 5 years in the UAE on January 1

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