Introduction If you are working for a multinational enterprise, it is likely that you have been involved in an intragroup restructuring that includes countries. A common question that arises in these international intragroup restructurings is whether any transfer – of shares or assets – made between entities of the same group should result in any […]
Summary In late 2023, Saudi Arabia’s Zakat, Tax and Customs Authority (“ZATCA”) opened a public consultation to replace the existing Income Tax Law (“ITL”) by a new one. The proposal, which is currently under study, aims to update the ITL, to align it with the most relevant international tax practices and to promote business through
A closer look into Saudi Arabia’s proposal for a new Income Tax Law Read More »
Introduction On 27 February 2024, the UAE’s Federal Tax Authority (“FTA”) published its Decision No. 3 of 2024, dated 22 February, regarding the timeline specified for registration of taxable persons for corporate tax for the purposes of Federal Decree-Law No. 47 of 2022 on the taxation of corporations and businesses (the “CT Registration Decision”). The
Registration deadlines for UAE corporate tax announced – are you ready? Read More »
1.Introduction On 16 February 2024, Saudi Arabia’s gazette published the Zakat, Tax and Customs Authority’s (“ZATCA”) much awaited tax rules for regional headquarters (“RHQ Tax Rules”). The RHQ Tax Rules are a great step and should, in conjunction with the other non-tax incentives already existing, incentivise multinational groups to set up their RHQ in Saudi
The RHQ Tax Rules in Saudi Arabia Read More »
Summary On 18 January 2024, the Spanish Constitutional Court (“CC”) issued its judgment 11/2024 and declared certain corporate income tax (“CIT”) restrictive measures introduced in 2016 to be unconstitutional and therefore void. These measures affected large companies and companies which in the past held shares in other companies and had declared impairment losses. However, in
