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29 January 09:20 AM

Taxes

The imported goods included ready-made garments, shoes, bags, and mobile accessories
27 January 03:27 PM Port Said Customs collects EGP 3.2bn dues in December 2019
Cairo – Mubasher: The Egyptian Customs Authority collected EGP 3.2 billion in customs duties and charges at Port Said during December 2019. The total value of taxes and customs duties collected for imported goods at Port Said reached EGP 553.6 …
Macroeconomics
FTA allows applicants to apply for the recovery online
21 January 04:38 PM FTA establishes new platform for VAT refund on new homes
UAE – Mubasher: The Federal Tax Authority (FTA) has developed a new platform on its website to facilitate the process of refunding the Value Added Tax (VAT) on building new homes for Emirati citizens through only four documents. Setting up a new …
Sector Reports
The initiative enables importers to voluntarily correct their customs data
8 January 01:51 PM Saudi Customs launch auto-adjustment data program
Riyadh – Mubasher: The Saudi General Authority of Customs launched the Auto Adjustment Program for Customs. The initiative enables importers to correct their customs data following specific terms and procedures voluntarily, the authority’s …
Taxes
A short-term impact is not expected to last for long
7 January 01:04 PM Tax on sweetened drinks will not impact Saudi businesses - KPMG
Riyadh – Mubasher: Imposing a 50% excise tax on Sugar-Sweetened Beverages (SSBs) will have a short-term impact on the FMCG supply chain in Saudi Arabia, including manufacturers, wholesalers, retailers and the hospitality industry, according to …
Markets Regulations
The company previously appealed a Zakat tie-up
30 December 2019 00:29 PM Al Baha settles tax appeal
Riyadh – Mubasher: Al Baha Investment and Development Company announced that it has received a resolution settling a tax appeal. The settlement will reduce a Zakat liability on the company for the years between 2000 and 2010 from SAR 16.85 million …
Minister of Finance Mohamed Maait
26 December 2019 02:55 PM Egyptian gov’t settles EGP 137bn tax disputes
Cairo - Mubasher: The Egyptian government has settled 126,000 tax disputes worth of EGP 137 billion, Minister of Finance Mohamed Maait stated on Thursday. The automation of tax disputes committee has contributed to saving time and realise tax …
Taxes
Taxpayers who fail to submit their monthly VAT declarations will be fined EGP 500 million
26 December 2019 00:51 PM Egypt to roll out tax app in January 2020
Cairo – Mubasher: The Egyptian Tax Authority (ETA) announced that a new tax mobile application will be released in January 2020. The new app will allow taxpayers to check the registration status of their companies and inquire about tax offices …
Macroeconomics
Business head for the Middle East at Tally Solutions, Vikas Panchal
23 December 2019 03:53 PM Bahrain announces new VAT registration deadline on 26 December
Mubasher: The Bahraini government has extended the deadline for the value-added tax (VAT) registration to 26 December 2019 instead of 20 December. The extension will include businesses that have an annual supply value exceeding BHD 37,500 during …
Saudi Arabian Monetary Authority
18 December 2019 04:35 PM SAMA asks banks to respect cost of living allowance
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has reiterated that all banks operating in the Kingdom must not to seize or compromise any amount of the cost of living allowance ordered by King Salman bin Abdulaziz Al Saud. Recently …
Banking and Finance
Saudi Minister of Finance, Mohammed Al Jadaan
10 December 2019 04:23 PM Saudi minister says no more tax, fees in 2020
Riyadh – Mubasher: The Saudi government will not introduce new tax or additional duties during 2020, according to the Saudi Minister of Finance, Mohammed Al Jadaan. The minister's remarks came on Tuesday during his participation at the 2020 Budget …
Taxes
Tax payers will be allowed to resolve disputes with the Tax Administration
5 December 2019 05:46 PM Egypt’s tax dispute resolution bill referred to parliament
Cairo – Mubasher: The Egyptian minister of finance Mohamed Maait highlighted the main aspects of the temporary draft law intended to resolve tax disputes.    The temporary (six-month) draft law has been referred by the Egyptian cabinet to the …