The UAE and Saudi Arabia will be the first countries to roll out VAT in the GCC from early 2018 while other Gulf countries have time till the end of next year to implement the new tax system
," said Khalid Ali Al Bustani, Director General of Federal Tax Authority (FTA), at a press conference in Abu Dhabi on Tuesday.
2 The proposed price must include all costs that will be incurred for the new tax system
, including, but not limited to costs for software licenses, integration and project management, data conversion, configuration, documentation, software testing, installation and implementation of software, interfaces or data file uploads, training services, hardware, maintenance and warranty for software and hardware, technical support and ongoing maintenance and all other proposed work for a fully operational tax system
that meets the business, function and technical requirements as defined in this Request for Proposal.
The UK tax system
is costing small businesses in the region up to PS2 billion in hidden costs a year, according to new research from AAT (The Association of Accounting Technicians).
Professor Rita de la Feria, of Durham Law School, said changing the law to implement a destination-based corporate tax system
was the fairest way of ensuring that major organisations could not use the current tax system
to avoid paying corporation tax.
Senior financial executives are attracted to the main elements of the Camp discussion draft--fiscally responsible corporate tax reform that promotes economic growth through a competitive statutory corporate tax rate and an internationally competitive participation exemption (territorial) tax system
Diverse Perspectives on the Proper Role of the 421 Federal Tax System
Simplifying, while one group believes this is a good choice, as it shares prosperity and reduces social inequality, another believes a progressive tax system
would result in people and firms paying more taxes.
The UK's tax system
is tilted against manufacturing, stands in the way of growing a more balanced economy and needs major reform, according to a major report published by EEF, the manufacturers' organisation.
Summary: <p>Finance Minister Mohammad Shatah said on Wednesday that it was imperative to implement the tax system
in order to ensure the continuation of growth and financial stability.
Special attention in designing tax system
should be given in lack of domestic savings in an economy.
We believe the implementation of our recommendations will spur economic efficiency, improve tax administration, and enhance the competitiveness of Canada's business tax system
However, this increase in interstate commerce has had a negative effect on states that have an income tax system