Saudi Arabia has opened registration for the new 5% value added tax (VAT), which begins on 1 January next year as part of a move to diversify its economy away from a reliance on oil revenues.
New capital requirements for licensed UAE insurance brokers will amount to a “cull” that could see the number of regulated firms drop by more than half, the heads of two large advisory firms operating in the region have suggested.
The government of the United Arab Emirates has issued a decree paving the way for its new value added tax (VAT) system to be implemented from 1 January 2018, which will cover the financial services sector.
Hong Kong and Dubai-based securities watchdogs have penned a cooperation agreement on fintech innovation.
In the furore over the removal of the tax exemption on foreign earnings, it has become clear that many South African expats are not fully aware of their existing tax obligations on offshore savings and investments and time is running out, warns Old Mutual Wealth’s David Denton.
Goldman Sachs received approval on Sunday to trade equities in Saudi Arabia, joining a growing cohort of western investment banks and fund managers expanding in the kingdom.
All contractors working on public sector projects that started before December 2016, when the levy was first announced, will be exempt from paying the expat workers’ tax.
An amnesty for expats working and living in Saudi Arabia illegally has seen more than 700,000 people take advantage of the scheme that will allow them to return legally in future, as the government prepares to track down those who opted to stay.
Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.
The cost of putting one child through education from pre-school through to university could reach almost AED1m (£211,456, $272,241, €232,584)for families in the United Arab Emirates (UAE), research from Zurich – Middle East shows.
Old Mutual International, the offshore arm of Old Mutual Wealth, has seen striking growth in cash inflows from clients in the Middle East during the first half of 2017, according to interim results posted on Friday.
A 23-year Zurich veteran, Walter Jopp has travelled around the world during his tenure. With roles in the UK, two stints in the US, Hong Kong and now Dubai, he has pretty much seen it all. Jopp talks to International Adviser about the raft of new regulation sweeping through the UAE and how the life…
