UAE has set a daily maximum limit of Dhs7,000 for cash refunds of Value Added Tax (VAT) for tourists applying through the Tax Refunds for Tourists Scheme.
The United Arab Emirates, which includes Dubai, was given a clean bill of health, lifted out directly from the blacklist after rushing through reforms.
The Federal Board of Revenue (FBR) of Pakistan has decided to install computerised machines at mega retail stores and shopping malls that will be linked with its system to avoid tax evasion worth billions of rupees.
Tear gas and water cannon fired as forces clear major highways; UAE, Saudi, Kuwait and Egypt issue travel advisories
Despite the flight of over Rs20,500 crore worth of foreign funds from the country’s stock market, the government seems adamant to implement the taxation surcharge on the super-rich category, which has spooked Foreign Portfolio Investors (FPIs).
Energy drinks include any beverages which are marketed, or sold as an energy drink, and containing stimulant substances that provide mental and physical stimulation, which includes without limitation: caffeine, taurine, ginseng and guarana.
Ireland’s gross domestic product (GDP) grew by 5.5% in 2019, likely making it the European Union’s (EU) fastest-growing economy again, although it was lower than the 6.3% predicted by the finance department as it braces for the potential impact of the coronavirus outbreak.
The move comes at a time when India is staring at the highest ever tax collection shortfall, as corporate and income tax collection for this fiscal year is set to fall for the first time in at least two decades and the goods and services tax revenue could see a gaping shortfall.
Indian business leaders in the UAE have welcomed the Indian government’s decision to restrict taxation only to the income generated by them from businesses in India. Moreover, taxes would need to be paid only on income of more than Indian Rs1.5 million.