Kuwait has announced new executive regulations for its tax on multinational entities, expecting the new levy to generate 250 million Kuwaiti dinars (approximately $819 million) in annual revenue. The Ministry of Finance stated that these regulations provide clarity on the introduction of a supplementary domestic minimum tax (DMTT) within the framework of the multinational entities...
The UAE Ministry of Finance has announced new tax regulations designed to stimulate economic growth by attracting more investments. These changes specifically target Qualifying Investment Funds (QIFs) and Qualifying Limited Partnerships, offering favorable tax conditions to encourage investor participation. Under the new framework, investors involved in QIFs will enjoy a preferential tax regime. Income generated...
The Federal Tax Authority in the UAE has announced that the end of March will be the final deadline for registered businesses to update their tax records without incurring administrative penalties. The Authority has urged those who have delayed updating their tax information to take advantage of this grace period to correct their records. This...
The Federal Tax Authority (FTA) has urged registrants who have not yet updated their tax records to take advantage of a newly granted grace period by the UAE Cabinet. This initiative is aimed at lessening the tax burden on the business sector and encouraging individuals and companies to meet their tax obligations. The government believes...