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La Joint Italian Arab Chamber of Commerce informa che da oggi, 25 maggio, sarà pienamente applicabile il nuovo Regolamento Europeo sulla protezione dei dati personali (GDPR General Data Protection Regulation, n. 679 del 2016). Ricordiamo che in ogni momento è possibile richiedere la cancellazione della Newsletter inviando un’e-mail all’indirizzo info@jiac.it oppure premendo il pulsante "Cancella iscrizione" situato nella parte finale delle Newsletter.

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JIACC is now on Twitter!

The Joint Italian Arab Chamber of Commerce is on Twitter (@Italian_Arab)! Follow us for the latest news on Italian-Arab economic relations!


Road to:

Second Italian-Arab Business Forum


144 Days 18 Hours 45 Minutes Left



The second Italian Arab Business Forum will take in place in Rome the 17th of October 2018. Soon JIACC will publish the dedicated website. Stay tuned for more information on the must-attend Italian Arab Business Forum.


Our Members in the Arab world!


Le attività di SACE per l'EXPO 2020 di Dubai

Dall’apertura dell’ufficio di Dubai nel 2016, il portafoglio di operazioni del Polo SACE SIMEST in Medio Oriente è triplicato arrivando a quota 12 miliardi di euro, a conferma delle grandi potenzialità di business per le aziende Italiane in questo mercato. EXPO 2020 Dubai rappresenta quindi un'ulteriore occasione e opportunità unica per rafforzare il posizionamento italiano nella regione, dove stiamo già valutando il nostro sostegno a nuovi progetti che coinvolgono imprese italiane per 15 miliardi di euro, di cui 5 solo negli Emirati Arabi Uniti.


News from the Arab world


Emirati Arabi Uniti: approvate nuove riforme economiche

Dopo un'importante riunione, il gabinetto degli Emirati Arabi Uniti ha approvato nuove riforme economiche su visti e  sulla proprietà straniera d'imprese al di fuori delle zone economiche speciali.

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Algeria: Italia primo cliente tra gennaio e aprile 2018

Secondo l’Agenzia delle dogane algerina, nei primi quattro mesi del 2018, l’Italia si è qualificata come primo cliente dell’Algeria, prendendo il posto della Spagna.

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Bahrein: per FMI economia con maggiore crescita nel GCC

Un report economico recentemente pubblicato dal Fondo Monetario Internazionale (FMI) ha affermato che nel 2018, l'economia del Bahrein rimarrà quella con la maggiore crescita dei paesi del Golfo.

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Accordo JIACC

Emirati-Italia: Cnr partner scientifico Comitato Expo 2020

Firmato il protocollo d’intesa tra il Cnr e il Commissario generale di sezione per l’Italia a Expo 2020 Dubai.

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News from Italy


التجارة الخارجية وأسعار الاستيراد للمنتجات الصناعية

في شهر اذار 2018 تم تقدير زيادة في كل من الصادرات (+1,2%) والواردات (+1,9%). ان النمو الاقتصادي للصادرات، بعد شهرين من الانخفاض هو توليفة الزيادة الملحوظة في المبيعات الى الأسواق خارج الاتحاد الأوروبي (+4,6%) والانخفاض في منطقة الاتحاد الأوروبي (-1,4%).

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News & Data JIACC

Foreign trade in Italy for March 2018

Istat presents data on Italy’s foreign trade as well as unit value and volume indices (base year 2015=100) referring to March 2018


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ItaliAmo, the new app to learn Italian

The Ministry of Foreign Affairs and International Cooperation has developed, in cooperation with IED and Ovosodo, the "ItaliAmo" app, which offers a free Italian language and culture A1 level course for iOS and Android devices.

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الشركات الصغيرة والمتوسطة في ايطاليا

ان الشركات الصغيرة والمتوسطة في إيطاليا تكون واقع رقمي مهم جداً يعادل 4.338.766 شركة. وجزء هام ومتزايد من هذه الشركات يبلغ حجم اعمالها بين 2 و50 مليون يورو وتتراوح اعداد موظفيها بين 10 و250 موظف، مما يشير الى الخصائص الفريدة لنسيج الاعمال في المنطقة وديناميكيتها

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JIACC's Tax Commission


OECD - Egypt, Qatar, KSA / CbC Reporting – Phase 1 of Peer Review 

On the 24th of May 2018, the OECD has released the first peer reviews of the Country-by-Country (CbC) reporting initiative (approved by the OECD on April 12th and prepared by the OECD Secretariat for publication).

The peer-review process addresses the sc. ‘BEPS package’ implementation and, as one of the BEPS ‘minimum standards, the CbC reporting requirements are subject to peer-review.

Namely, BEPS Action 13 provides for a template for MNEs to report annually (and for each jurisdiction in which they carry out a business) the amount of profits, business before income tax and income tax paid and accrued. The duty to file the CbC reporting to the State’s Tax Authority is with the sc. ‘Ultimate Parent Company’. The Tax Authority, in turn, will be sharing such CbC with other State’s Tax Authorities in which other entities of the group are.

The Report (prepared on 12 April 2018) stresses that some jurisdictions that are part of the Inclusive Framework have not been included due to a variety of reasons and lists, among the others: Djibouti, Oman and Tunisia. For other JIACC States joining the BEPS Inclusive Framework after the 12th of April, see JIACC newsletter of May 18, 2018.

As for the JIACC State’s peer review, this report affects exclusively Egypt, Italy, Qatar and the UAE.

Hereinabove the conclusion set forth for Egypt, Italy, Qatar and KSA in respect of the following items: (i) domestic and legal framework; (ii) exchange of information network; and (iii) confidentiality and ‘appropriate use’ of information.

With respect to implementation of the CbC requirements, the conclusions are that:

• Egypt: does not yet have a complete domestic legal and administrative framework and is asked to take steps to finalise the domestic legal and administrative framework;

• Italy: meets all the terms of reference having put in place a legal and administrative framework to impose and enforce CbC reporting requirements;

• Qatar: shall meet the terms of reference relating to the domestic legal and administrative framework with few exceptions;

• KSA: is asked to take steps to finalise the domestic legal and administrative framework;

• With regard to the Exchange of Information:

• Egypt: is recommended implement Automatic Exchange of Information and have QCAAs in effect with jurisdiction included within the Inclusive Framework;

• Italy: (against the backdrop of still evolving exchange of information framework) Italy is, at this point of time, meets the terms of reference;

• Qatar: is recommended to take steps to enable exchanges of CbC Reporting;

• KSA: is recommended to implement Automatic Exchange of Information and have QCAAs in effect with jurisdiction included within the Inclusive Framework;

For purposes of the ‘appropriate use’:

• Egypt: is recommended to ensure that the ‘appropriate use’ condition is met;

• Italy: meets the terms of reference;

• Qatar: is recommended to take steps to finalise measures for appropriate use ahead of the first exchange;

• KSA: is recommended to take steps to finalise measures for appropriate use ahead of the first exchange;

Author: Roberto Scalia, Chairman JIACC Tax Commission


KSA - UAE / Double Tax Treaty signed 

Few months ago, on January 23, 2018, the Saudi Arabian cabinet authorized the Minister of Finance (MoF) to sign an Income and Capital Double Taxation Convention with the UAE (hereinafter, the DTC).

The 24th of May 2018 will be long reminded as a landmark date for the GCC market.

Yesterday – May 24, 2018 – HE Obaid Humaid Al Tayer (UAE Minister of State for Financial Affairs) and HE Mohammed Bin Abdullah Al-Jadaan (KSA Minister of Finance) signed the DTC at the Headquarters of the KSA Ministry of Finance in Jeddah.

Although the official text of the DTC is not available yet there are few remarkable aspects deserving due attention and dealt with below.

DTC and GCC Market

Despite being a DTC between two sovereign States, worth to underline that such DTC ties two countries forming a Regional organisation, the GCC.

Like the other (landmark) EU Regional experience, also in the GCC context, one has to consider the relationship between the DTC and the GCC market founding principles, such as non-discrimination, ‘national treatment’ and  ‘most favoured nation’ clause and fundamental freedoms (to move, reside, etc).

Despite the EU and GCC are not exactly overlapping in terms of objectives and structures the EU experience shows that such relationship between these International sources (and their hierarchy) will be unavoidably an issue to be considered.

When the official text of the DTC will be available it will be interesting checking whether the DTC (itself, or any Protocol thereof) will be dealing with this issue.

On the concept above, see:

• Roberto Scalia, A Tax Law Perspective of the Cooperation Council for the Arab States of the Gulf’ (GCC), Intertax 1(2017), Wolter Kluwer Journal).

DTC and Exchange of Information

The signature of the DTC took place in the context of a meeting in which the Ministers discussed also about the cooperation between the two States in the application of the two GCC Unified Agreements (on VAT and Excise tax).

Although the DTC scope is limited to taxes on income and capital (subject to closer analysis of the DTC official text), worth to underline the close nexus existing with the signature of the DTC and the recent introduction of VAT in both States.  

Both Agreements are based upon an Exchange of Information mechanism that has not been put in place yet. Its enforcement affects also the (complete and effective) implementation of the VAT Intra-GCC rules that, until now, are not applicable.

Noteworthy, the effective implementation of all such self-commitments will be monitored by the two States’ Tax Authorities and established a team for this purposes that will be headed by HE Khalid Ali Al Bustani (Director General of the UAE Federal Tax Authority FTA) and Suhail Bin Mohammed Abanmi (Governor of the KSA General Authority of Zakat and Tax GAZT).

For learning more about cross-border aspects of VAT in the two States, see:

• Howard R. Hull, Roberto Scalia, GCC VAT – International Goods, in Bulletin for International Taxation 2(2018), IBFD Journals;

• Howard R. Hull, Roberto Scalia, GCC VAT – International Goods, in Bulletin for International Taxation 3(2018), IBFD Journals;

• Roberto Scalia, GCC VAT – An Introduction – part 1, JIACC Tax Insight n° 1 (available at: www.jiac.it)

Author: Roberto Scalia, Chairman JIACC Tax Commission