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    FTA speeds up inspection, uncovers tax violations worth Dhs71.48 million

    13 Jul 2021

    The Federal Tax Authority (FTA) has intensified its inspection campaigns in the local markets in collaboration with the Ministry of Economy, the Federal Customs Authority

    Around 130 countries back deal on global minimum tax for companies

    01 Jul 2021

    Some 130 countries have backed a global minimum tax as part of a worldwide effort to keep multinational firms from dodging taxes by shifting their profits to countries with low rates.

    Egypt's cabinet approves draft decree exempting travellers from gold tax

    11 May 2023

    According to the cabinet, this exemption applies to semi-manufactured gold, gold prepared for currency-trade, and jewellery parts made or coated with a layer of precious metals.

    UAE announces corporate tax relief for small businesses and startups

    06 Apr 2023

    Ministerial Decision No. 73 of 2023 specifies that businesses with revenues of Dhs3 million or less can benefit from Small Business Relief and the conditions for Small Business Relief election

    FTA’s whistle-blower programme to tackle tax violations, evasions

    15 Apr 2022

    Effective as of Friday, April 15, 2022, the programme allows the Authority to receive reports from individuals on tax evasion cases, tax-related fraud, and violations of tax legislation.

    G7 nations very close to global corporate tax deal, says France

    04 Jun 2021

    Some of the world’s richest nations are within touching distance of a historic deal to close the net on large companies which do not pay their fair share of tax, French Finance Minister Bruno Le Maire said on Friday after a day of talks in London.

    Rich nations strike deal to tax big multinational companies

    05 Jun 2021

    In a move that could raise hundreds of billions of dollars to help governments cope with the aftermath of COVID-19, the Group of Seven (G7) large advanced economies agreed to back a minimum global corporate tax rate of at least 15%.

    Direct Tax collections in India for FY 2022-23 at Rs16.68 lakh crore

    11 Mar 2023

    Government data has revealed that Direct Tax collections up to March 10, 2023, stood at Rs16.68 lakh crore which is 22.58 per cent higher than the gross collections

    Filipina singer gets seven years in jail for $33m tax evasion

    18 Jul 2020

    The CTA imposed the stiff jail sentence on Claire dela Fuente, aside from ordering her to pay a $1,000 fine as it rejected her defence that she did not participate in the management and operation of the bus company.

    US tax breaks lure European companies as EU lags

    17 Apr 2023

    Norwegian startup Freyr will first build batteries to power electric vehicles and store clean energy in a remote town near the Arctic Circle. Up next? An Atlanta suburb. That’s because a new US clean energy law offers generous tax credits — up to 40% of costs — in what is a “massive, massive incentive” for producing in America,

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