22 May 2024
Companies operating in the GCC region during 2024 will face a unique set of challenges presented by tax and customs authorities, as the GCC continues to experience constant and significant legal changes in tax and trade regulations. These changes have been driven by various factors, including the need to diversify revenue sources, enhance economic stability,…
The Zakat, Tax, and Customs Authority (ZATCA) has recently updated its guidelines regarding tax ruling requests, which is primarily designed to assist taxpayers in understanding the process to obtain clarity on KSA’s tax laws in relation to the taxpayer’s specific circumstances. According to ZATCA, the specific Tax Ruling will serve as ZATCA’s clarification as…
Mahmoud Kandil has joined Hourani & Partners as a Senior Consultant in the Litigation team. Mahmoud brings a wealth of experience advising a diverse clientele, including businesses, financial institutions, multinational corporations, real estate and construction companies, family offices, and royal families on various contentious matters. With expertise in both domestic and cross-border disputes, Mahmoud…
Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) is in the process of comprehensively reforming its income tax and zakat framework, which mainly entails the introduction of a revised Income Tax Law, aiming to replace the existing law, and a unified Zakat and Tax Procedures Law. The aim is to foster a more business-friendly environment…
Ali Sikander has joined Hourani & Partners as a Senior Associate in the Corporate team. Ali is a dual-qualified (New York and England & Wales) corporate attorney whose practice spans a wide range of cross-border corporate transactional matters, with a focus on M&A, private investments, and capital markets in the Middle East, Europe, and…
The UAE has entered multiple bilateral Free Trade Agreements (FTA) with a range of sovereign states to enhance international trade ties and revenues between the various countries. The CEPAs aims to confer duty-free benefits on imported goods originating and traded between the UAE and individual CEPA countries, with certain key products benefiting under the treaty….
The Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia has issued comprehensive guidelines for the Special Integrated Logistics Zone (SILZ) at King Khalid International Airport. The guidelines align with the Gulf Cooperation Council’s Unified Customs System and details the operational and tax-related provisions for businesses within the SILZ. Permitted activities Allowed activities include…
The United Arab Emirates (UAE) has long been a preferred destination for businesses and investors from around the world. Its strategic location and investor-friendly policies have made it a global hub for commerce, finance, and innovation. However, in a significant move that marked a departure from the country’s long-standing tax free stance, the UAE Ministry…
