Oman to impose 5% tax on individuals with annual income of OR42,000, a first in Gulf region

Sultan Haitham Bin Tariq of Oman has issued a decree on Sunday mandating the introduction of income tax, with the intention of implementing this on an individual income basis...

The all-knowing Musk

Tax issues may lead millionaires to leave UK

For ultra-wealthy entrepreneur Bassim Haidar, living in London has become an expensive indulgence he can no longer justify. While new British Prime Minister Keir Starmer settles into No. 10...

Those whose annual turnover exceeds Dhs1 million must register for corporate tax by end-2024

The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural persons subject to the Corporate Tax Law, that came into effect on 1st...

Over Rs200 crore seized from premises linked to Congress MP in India

Income Tax (I-T) officials have seized unaccounted cash to the tune of over Rs200 crore during searches at multiple premises in Odisha and Jharkhand linked to Baldeo Sahu and...

Spanish court starts new probe against music superstar Shakira for alleged tax fraud

A Spanish court said it has opened a new probe into Colombian music superstar Shakira for alleged income tax fraud. The 46-year-old "Hips Don't Lie" singer is already due...

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

The Egyptian government approved a draft decree during its weekly meeting on Wednesday exempting travellers who bring gold from customs duties and other fees — except value-added tax (VAT)...

Indian officials search BBC offices for second straight day

India’s tax officials searched BBC offices in India for a second straight day on Wednesday questioning staff about the organisation's business operations in the country, some staff members said....

UAE has no plans to levy income tax, says minister

Gulf Today Report The UAE Minister for Foreign Trade Thani Bin Ahmed Al Zeyoudi clarified that the country will not levy an income tax for the time being. Zeyoudi,...

India unveils $529.7 billion budget

Gulf Today Report India unveiled a bigger budget of 39.45 trillion rupees ($529.7 billion) for the coming fiscal year on Tuesday, stepping up investment on highways to affordable housing...