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  • 18 Feb 2019Saudi Arabia

    The announcement comes at a time when direct foreign investment in the Kingdom of Saudi Arabia (KSA) is expected to increase in line with the government's 'Vision 2030' plan to diversify its income resources away from dependence on oil, in order to promote a sustainable economy and turn the country into a "global investment powerhouse", according to financial services expert Tom Bicknell of Pinsent Masons, the law firm behind

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  • 14 Feb 2019Saudi Arabia

    Saudi Arabia’s Health Ministry has announced it will launch the Global Adult Tobacco Survey to determine the extent of tobacco use in the Kingdom and assess ways to tackle it.

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  • 13 Feb 2019Bahrain - Qatar - Saudi Arabia - United Arab Emirates

    We are pleased to share with you our January 2019 edition of the PwC GCC VAT Newsletter on the latest VAT developments in the GCC Region.

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  • 07 Feb 2019Bahrain - Kuwait - Oman - Qatar - Saudi Arabia - United Arab Emirates

    Businesses liable for value-added tax (VAT) in Gulf Cooperation Council (GCC) states will usually have to complete an apportionment exercise in order to correctly calculate the extent to which they are entitled to deduct the VAT they incur on their own purchases.

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  • 05 Feb 2019Saudi Arabia

    The government authorities of the Kingdom of Saudi Arabia (KSA) are collectively working on improving the investment environment, as part of the National Transformation Plan and Vision 2030. In this respect, the Saudi Arabian General Investment Authority (SAGIA) - the governing authority for foreign direct investments - has been working on developing the foreign investment regime aiming to ease some of the restrictions applied on foreign investments in the KSA.

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  • 05 Feb 2019Bahrain - Kuwait - Oman - Qatar - Saudi Arabia - United Arab Emirates

    Established in March 1995 by GCC leaders, one of the main objectives of the GCC Commercial Arbitration Centre (GCCCA) is to fill a gap in the region by providing expeditious and effective arbitration services.The GCCCA was established to administer commercial cases, including cases in the region related to banks, financial institutions, insurance, reinsurance, constructions, engineering, various contracting, intellectual property covering commercial and industrial, copyrights, and all types of international commercial contracts. The conduction of arbitration proceedings under the auspices of the GCCCA is subject to two set rules; the Charter of the Centre (Charter Rules) and the Arbitral Rules of Procedure (Procedural Rules) which should be read and interpreted as complementary to one another.  These two rules together will be referred to as the Rules.In March 1995, it was officially announced that the GCCCA had become fully functioned and ready to fulfil its duties. By virtue of Qatar Decree No 19/2015, the GCCCA was approved by the State of Qatar and has been given the power of law in accordance with Article 68 of Qatar Law No 1/2004.This commentary aims to give a general overview of the major provisions underpinning the conduct of arbitration proceedings in accordance with the GCCCA Rules.

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  • 04 Feb 2019Saudi Arabia

    Withholding tax is one of the imperative tax compliance requirements for the majority of businesses in the KSA. According to article 68 of the KSA Income tax law, any resident that receives services from a non-resident services provider is required to deduct, pay and file return(s) for withholding tax. Failure to deduct the withholding tax will cause your business to bear the tax on behalf of the foreign service provider.

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