News from the Arab world

Arabia Saudita: a Waad nuovo progetto minerario

Il Re saudita Salman bin Abdul Aziz ha inaugurato il progetto minerario Waad Nord, che si prevede possa accrescere il PIL non petrolifero del Regno fino a 24 miliardi di Riyals (circa 6,4 miliardi dollari) ogni anno, ossia circa il 3%.

السعودية مشروع جديد للتعدين سيضيف 24 مليار ريال إلى الناتج الإجمالي غير النفطي

افتتح العاهل السعودي الملك سلمان بن عبد العزيز مشروع وعد الشمال للتعدين الذي من المتوقع أن يزيد الناتج المحلي الإجمالي غير النفطي للمملكة بمقدار 24 مليار ريال (حوالي 6.4 مليار دولار) سنويا، أو ما يعادل نحو 3%

Arabia Saudita: Wadi El-Disa futura meta turistica

Il Public Investment Fund, fondo sovrano dell'Arabia Saudita, ha annunciato il lancio del progetto Wadi El-Disa, sito storico-naturale situato all'interno della Riserva del principe Mohammed bin Salman, a nord-ovest del Regno. Il progetto mira a preservare l'ambiente e la fauna selvatica della valle e al contempo a sviluppare la zona per farne una delle più importanti attrazioni turistiche "eco-friendly" del Regno.

وادي الديسة أحدث عنوان سياحي في السعودية

أعلن صندوق الاستثمارات العامة، الصندوق السيادي للسعودية، إطلاق مشروع تطوير وادي الديسة، ضمن محمية الأمير محمد بن سلمان، شمال غرب المملكة، ويهدف المشروع إلى الحفاظ على البيئة

Emirati: Sharjah FDI Forum 2018

Join elite business leaders and economists from the public and private sectors from around the world, at the 4th edition of the Sharjah FDI Forum, organized by Sharjah Investment and Development Authority (Shurooq), and the Sharjah FDI Office (Invest in Sharjah).

Tunisia-Italia: Confimprese apre centro assistenza a Tunisi

Confimprese Italia, (Confederazione italiana della Micro, Piccola e Media Impresa) sbarca in Nord Africa con l'apertura di un punto di assistenza tecnica per le imprese associate nel Delta Center di Tunisi.

Tunisia-Italia: accordo su scarti tessili e loro riutilizzo

Il Consorzio nazionale abiti e accessori usati (CONAU) ha siglato un accordo con l’omologa associazione tunisina (Connect Gl Friperie) per valorizzare, attraverso il riuso e il riciclo, gli scarti tessili e gli abiti usati.

Egitto-Italia: Cna Federmoda al Cairo per Destination Africa

Ancora una missione in Africa per CNA Federmoda, in questa occasione al Cairo per Destination Africa, manifestazione giunta alla terza edizione e che vede momenti di networking e una conferenza che pone al centro della discussione il tema della sostenibilità.

Kuwait-Italia: intervista all'Amb. Scognamiglio

Intervista dell'AGI a S.E. Giuseppe Scognamiglio, Ambasciatore d'Italia a Kuwait City.

Kuwait-Italia: concluso tour regionale dell’Aeronautica Militare

L’Aeronautica Militare il 10 novembre 2018 è atterrata in Medio Oriente per un tour che ha toccato il Qatar, il Bahrain e infine il Kuwait.

Iraq: annunciata creazione di un'agenzia per la ricostruzione

Durante il MED Forum di Roma, il Presidente Iracheno Barham Salih ha dichiarato che il governo prevede di formare un'agenzia per la ricostruzione che si concentrerà su progetti vari progetti di sviluppo come un porto in acque profonde e una rete ferroviaria.

الرئيس العراقي: نخطط لإطلاق وكالة لإعادة الإعمار

قال الرئيس العراقي برهم صالح إن العراق يخطط لإطلاق وكالة لإعادة الإعمار ستركز على مشاريع مثل ميناء في المياه العميقة وشبكة للسكك الحديدية.

News from Italy

التبادل التجاري بين إيطاليا والدول العربية

يوماً بعد يوم تزداد أهمية التجارة في تقدم المجتمعات البشرية وازدهارها، وهي ساهمت الى حد كبير في التقارب بين الشعوب وتعزيز أواصر الصداقة بينها، من هنا فأن إيطاليا ترتبط والدول العربية بعلاقات صداقة عميقة وتاريخية منذ فترة طويلة . شهدت العلاقات الاقتصادية العربية الإيطالية في السنوات الخمسة عشر الأخيرة تطوراً على صعيد الاستثمار والتجارة وعلى صعيد العلاقات بين مؤسساتها وغرف تجارتها وجمعياتها المهنية والوطنية والإقليمية مما جعل إيطاليا الشريك التجاري المثالي للدول العربية

الامارات العربية المتحدة / البحرين / الجزائر / العراق / الكويت / المملكة العربية السعودية / المملكة المغربية / المملكة الهاشمية الاردنية / تونس / دولة قطر / سلطنة عمان / لبنان / مصر

Forum economico algerino-italiano

Il Forum economico algerino-italiano, organizzato da Assolombarda con il Consolato di Algeria a Milano, ha l'obiettivo di fornire un quadro dell'ambiente business del Paese.

Diventare Partner dell'Italia ad Expo 2020 Dubai

Le imprese italiane potranno diventare partner e sponsor del Padiglione dell’Italia a Expo 2020 Dubai: un Innovation Hub, un padiglione non semplicemente espositivo ma dimostrativo e capace di dare forma e visibilità alle eccellenze e competenze italiane nella costruzione e realizzazione di spazi interni e esterni, espressione di smart building system e di architettura digitale, dotato di elementi attrattivi per generare una forte visitor experience.

Italia-Qatar: memorandum su ricerca biomedica e farmaceutica

L’accordo pone le basi per un’intesa operativa nel settore della salute, in particolare nelle aree della ricerca biomedica e farmaceutica, degli standard di qualità delle prestazioni sanitarie e della telemedicina.

Italia-Algeria: Condor Group rileva la Tecnogas

L’algerina Condor Electronics dopo aver acquisito la società Nardi, si appresta a rilevare anche la Tecnogas, storica azienda emiliana della cottura, dal 1995 della Antonio Merloni e travolta nel 2008 dalla crisi di quest’ultima.

JIACC's Tax Commission

JIACC Tax Commission at the 3rd Annual MENA VAT (Dubai 26-27 Nov)

The 3rd MENA VAT Conference will be held in Dubai the 26-27 of November.

We are really proud to report that our Tax Commission members, Glenn Luxem (Head of Tax, Emirates NDB, UAE), Mohamed Faical Chaffredine (Global Head of Tax, Aujan Group, UAE) and Mohamed El Fezzazi (former Head of Tax MENAT, DHL, Deutsch Post) are among the speakers of the event.

The event is among the most awaited in the Region for practitioners and tax managers of MNEs.

This year's key topics are (i) Dealing with Intra GCC Transactions Smoothly, Ethically and Without Penalties; (ii) Correlating the impact of VAT on your Business Workflow; (iii) Keeping your Working Capitals Down; (iv) VAT Powertalk: Zooming in the Applicability of VAT in Different Industries; and (v) Smart VAT: Update your Overall Business Operations.

Thomas Vanhee (Tax Commission member) latest article

Our Tax Commission is really pro-active in the International Tax arena!

This time, we are glad to report our Thomas Vanhee (Partner at Aurifer Middle East Tax) article on "VAT on Real Estate Transaction - A Comparative view of Saudi Arabia and the United Arab Emirates" published in 29 International VAT Monitor 6(2018), IBFD Journals.

In this article, Thomas discusses the VAT regime implemented for the Real Estate sector in Saudi Arabia and the United Arab Emirates for businesses and individuals, focusing on similarities and differences between the implemented legislation.

KSA / New General VAT Guide issued by the GAZT

The General Tax Authority on Zakat and Tax (GAZT) issued a new "VAT General Guideline":

The Guide tackles in less than 70 pages VAT as a whole and, namely, (i) the duty to register, according to the 'economic activity' requirements, (ii) rules applicable in the transitional period; (iii) special cases concerning 'non residents' and VAT groups; rules concerning charging VAT (also in multiple supplies and continuous supplies cases) and issuing invoices; (iv) claiming input VAT and filing requirements.

Among the notable aspects, the part dedicated to taxpayers' compliance with GAZT.

The Guide is an useful tool shedding light on aspects that proved to be controversial in first few months of VAT implementation.

Author: Roberto Scalia - Chairman JIACC Tax Commission

Qatar / VAT expected by late 2019, beginning of 2020

Aside the International Monetary Fund (IMF) visit to Qatar, the officials spent a few (but remarkable) words concerning introduction of VAT in Qatar.

The IMF staff, in their report dated November 14, 2018, hold that "The authorities’ plan to introduce a VAT, with an implementation target date towards the end of 2019 or early 2020"

The rumors concerning introduction of VAT by mid 2019 seem to be consistent and MNEs are called to prepare for this new important change in Qatar's legislation.

Author: Roberto Scalia - Chairman JIACC Tax Commission