Beginning on January 1, 2024, many companies (Reporting Companies) in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau.
The European Union Tax Observatory has released its ‘Global Tax Evasion Report 2024’ which highlights the issue of tax evasion among billionaires. According to the report, billionaires are able to enjoy effective tax rates as low as 0% to 0.5% of their wealth. To address this problem, the report suggests.
The main methods by which foreign businesses may establish a presence in the UAE are as follows: Incorporating a limited liability company in the mainland (LLC); Establishing a branch in the mainland; Establishing a professional partnership or professional sole proprietorship (with unlimited liability) in mainland. Establishing a company or opening.
The Central Board of Indirect Taxes and Customs (CBIC) has issued instructions regarding the Acceptance of an Electronic Certificate of Origin (“e-CoO”) issued under India-UAE Comprehensive Economic Partnership Agreement (CEPA). The instructions were issued by the CBIC with regard to the India-UAE CEPA stating that the importers are facing difficulties.
