22 May 2024
Transfer pricing for tax purposes has long been an extensively discussed issue globally, and recent political and public concerns about tax avoidance have energised tax regimes globally to update laws and regulation in this regard. In the Kingdom of Saudi Arabia (KSA), the Zakat, Tax, and Customs Authority (ZATCA) issued Transfer Pricing Bylaws (the Bylaw)…
In the last few years, the United Arab Emirates (UAE) has become an increasingly popular destination for individuals and families to move their lives. The UAE’s favourable tax regime, warm climate and endless economic opportunities have made it an attractive choice for expats and entrepreneurs, alike. Although no personal income tax is levied on individuals…
Hourani & Partners advised Schlumberger Middle East S.A. (Schlumberger) on its acquisition of a 40% stake in AZR Petroleum Contracting Company. Schlumberger the world’s largest oilfield services company with a global footprint in more than 100 countries. AZR Petroleum Contracting Company is a prominent player in the Saudi Arabia oilfield industry, specializing in wireline…
The UAE Ministry of Finance has just recently issued Ministerial Decision No. 27 of 2023 on The Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency, to provide more specific guidelines on how tax residency should be determined in the UAE. Key takeaways of the Ministerial Decision…
In December 2022, in his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued a Decree, establishing the Family Businesses Centre in the emirate of Dubai’ (Dubai Family Business Centre). The Dubai Family Business Centre aims to support family businesses in achieving their potential…
Hourani & Partners advised SmartMed Investment Company (SmartMed) on the sale of Jiwar Medical Services LLC to National Medical Care Company (CARE) for SAR 65m. Smartmed, based in Riyadh, offers a unique home health care services and has a focus on improving the primary healthcare system in the Kingdom of Saudi Arabia. Its holding,…
Aakriti Sharma has joined Hourani & Partners as a Senior Associate in the Tax team. Aakriti, an Australian qualified lawyer, brings a wealth of experience in tax law to Hourani. With her extensive background, including pivotal roles at Herbert Smith Freehills, Deloitte, and EY Consulting, Aakriti has established herself as a trusted advisor in the…
Hourani & Partners advised Tarboosh Games in the sale of a 51% stake to Voodoo SAS, marking one of the first multi-million-dollar acquisitions of a company based in the DIFC (Dubai International Financial Centre) Innovation Hub. Tarboosh Games is an independent games developer in the MENA region. It is founded by a group of…
