On 17 March 2015 Cyprus and Bahrain signed a new double taxation agreement. Like all of Cyprus’s recent DTAs it closely follows the 2010 OECD Model Tax Convention. Its main provisions are summarised below. Taxes covered The agreement applies to taxes on income imposed by either country. In Bahrain these… – Continue reading
UPDATED, March 16, 4:10 p.m.: Offshore investors are breaking into the hotel market at a rapid rate, and despite what it may seem like from recent headlines, not all are arriving from China. The buyers – many of them hailing from Qatar, Kuwait, Malaysia and Singapore – were involved in… – Continue reading
The call for tax transparency is being echoed around the globe, with ‘midshore’ centres like Bahrain and the UAE emerging as reputable, regulated and tax efficient jurisdictions A 2012 book entitled Offshore Apocalypse – The Collapse of the Tax Haven Industry, written by a team of tax-law academics, auditors, compliance… – Continue reading
Cyprus signed four bilateral agreements with Bahrain on Monday, during President Nicos Anastasiades’ state visit to the kingdom where he was be received by ruler Hamad bin Isa Al Khalifa, where the two leaders also discussed issues of cooperation in tourism and the economy, as well as concerns about regional… – Continue reading
Bahrain-based TAIB Bank says the final outstanding balance for shareholders who sold 60 per cent or more of their shareholding to Dubai Financial Group at the rate of US$ 2.59 per share during November 2007, has now been received by TAIB. This final escrow balance amount received shall be remitted… – Continue reading
Bahrain and India have signed agreements to increase co-operation in the areas of education, investment, defence and other sectors. It took place during the first meeting of the India-Bahrain High Joint Commission (HJC) in New Delhi, said a report in the Gulf Daily News (GDN), our sister publication. The Bahrain… – Continue reading
On 9 February 2015, Standard & Poor’s Ratings Services lowered its long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain to ‘BBB-/A-3’ from ‘BBB/A-2’. At the same time, it lowered the long- and short-term foreign and local currency credit ratings on the Central Bank… – Continue reading
Nilesh Ashar, partner and head of Tax for KPMG in the UAE, analyses the impact of investment regulations and tax laws on foreign businesses foraying into the Middle East. In the last decade, the Middle East region has witnessed significant economic growth, primarily driven by the surge in oil revenues…. – Continue reading
On Dec. 12, 2014, Standard & Poor’s Ratings Services revised its outlook on the Kingdom of Bahrain to negative from stable and affirmed its ‘BBB/A-2’ long- and short-term foreign and local currency sovereign credit ratings. “At the same time, we revised our outlook on the Central Bank of Bahrain to… – Continue reading
GCC-based Islamic banks are increasingly eyeing international markets Islamic banks in Gulf Cooperation Council (GCC) nations need to expand abroad to maintain their pace of growth in the future, according to Al-Baraka Banking Group, which operates in 15 countries from the Middle East to Asia. “Banks have no alternative,” says… – Continue reading
New Delhi: The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total exceeding US$1.4 trillion are stashed in Switzerland.[1] Other reports, including those reported by Swiss Bankers Association and the Government of Switzerland, claim that these reports are false and fabricated,… – Continue reading
