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Positive outlook for the UAE’s economy and banking sector

Positive outlook for the UAE’s economy and banking sector

February 4, 2015 10:45 am

The United Arab Emirate (UAE) healthy bank sector reflects the country’s healthy economy. Mashreq Bank 2014 net profit rose by 33% when compared to the previous year. Based on the significant growth, the Mashreq group highlights that their growth reflects the general growth of the economy in which they run operations, therefore if Dubai’s economy […]

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Proposed Anti Avoidance Amendments to the Parent Subsidiary Directive

Proposed Anti Avoidance Amendments to the Parent Subsidiary Directive

October 9, 2014 1:19 pm

It is believed that the EU’s Council of Economic and Finance Ministers (ECOFIN) will consent the change of the Parent Subsidiary Directive (2011/96/EU) (the Directive) to stem forceful methods to avoid tax. The Directive was set up to avoid twofold taxation of group organizations that are resident in different jurisdictions by exempting profits and other […]

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Organisation for Economic Co-operation

Organisation for Economic Co-operation

October 8, 2014 2:26 pm

The OECD has revealed suggestions according to its ‘Base Erosion and Profit Shifting Project’ (BEPS), where it is evident the organisation evaluates seven key features of its action plan, including transfer pricing matters. The seven proposals the OECD mentioned in its BEPS report concentrate on an issue known as base erosion and profit shifting. This […]

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New Double Tax Agreement between Cyprus and Switzerland

New Double Tax Agreement between Cyprus and Switzerland

October 8, 2014 2:26 pm

On July 25, 2014, Switzerland and Cyprus consented and signed a new agreement concerning averting double taxation between the two nations. It is the first twofold agreement between the two nations and will aid in the advancement of financial relations between the countries. The agreement will come into power once it has been endorsed by […]

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