With the US imposing new tariffs, Canada is shifting its trade focus to the Middle East, leveraging free trade agreements and investment agreements to expand in high-growth sectors like agri-food, renewable energy, and technology.
The UAE Federal Tax Authority has amended VAT regulations, impacting financial services, real estate, exports, and input VAT recovery. Businesses must update their compliance frameworks to align with the new requirements.
Oman’s new Top-Up Tax Law, effective as of January 1, 2025, mandates multinational enterprises (MNEs) to ensure a minimum effective 15 percent tax rate.
Türkiye aims to achieve US$12.5 billion in exports from its free zones by 2025. The country is positioned to meet this goal through tax incentives, operational flexibility, and strategic investments in key industries.
Kuwait’s Public Debt Law authorizes the issuance of US$65 billion in sovereign and Sukuk bonds over a period of 50 years, aiming to attract investments and enhance fiscal sustainability.
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