Dubai, December 11th, 2019
The Spanish Business Council in cooperation with the Belgian Business Council and Benelux Business Council organized last Monday a seminar in ‘Handling KSA Business from the UAE’ hosted by Schlüter Graf and Aurifer.
The speakers present an overview in the recent changes regarding regulation, taxation and foreign direct investment on a market that is emerging with more competition and production. The session covered the assignments and the localisations requirements that are needed to step a company and that will take in order to increase IKTVA score.
Some important observations to take in consideration:
- Potential higher tax base in KSA but lower with base
- Presumably specific attention for controlled transactions with UAE and Bahrain
- VAT and customs
- GAZT’s tax audit increase – foreign transactions cross checked with SAMA’S information
The session ended with a Q&A where the participants raised very interesting questions.
SCHLÜTER GRAF is a law firm with over 20 lawyers, five of whom are also public notaries. Their head office was founded in Dortmund in 1946 and opened the office in the UAE in 1996. With a team that combines the highest standards of the German legal practice along with a knowledge of local laws, regulations and practices in the Middle East. They provide legal solutions for all their commercial and corporate matters in the Middle East.