Central to Saudi Arabia’s Vision 2030 reforms, the Kingdom has introduced its Regional Headquarters (RHQ) program, an initiative poising Saudi Arabia as a powerhouse in the Arab region. Framework In terms of Saudi Arabia’s Foreign Investment Law, companies wishing to be part of the RHQ program must fulfil specific criteria set by Saudi Arabia’s…
The United Arab Emirates (UAE) Federal Tax Authority (FTA) has released several detailed guides in 2023 and recently one in 2024, regarding various legal aspects and concepts of the UAE Corporate Income Tax Law, offering detailed explanations and practical examples to aid taxpayers in understanding and complying with the new UAE Corporate Income Tax Law….
In a landmark policy shift, the UAE Ministry of Finance has introduced the Corporate Income Tax Regime (CIT), effective June 2023. The move marks a departure from the UAE’s longstanding no-taxation policy, positioning it in a new phase of economic development. The UAE’s Corporate Tax Law aims to promote foreign investment and transparency, maintaining a…
On 6 December 2023, the Zakat, Tax, and Customs Authority (ZATCA) ratified a new set of guidelines known as The Rules of Customs Procedures Guide, under Resolution 28624. These rules, initially open for public consultation, have now been officially published in the Saudi Official Gazette Umm Al-Qura (in Arabic). The effective date is officially…
