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News from JIACC

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JIACC welcomes Foglia & Partners!

We are are proud to welcome our new Member, Foglia & Partners, a boutique of excellence in all the main areas of national and international tax law. Foglia & Partners is recognized as a reference point in corporate reorganizations, taxation of corporations and of individuals, in real estate tax, taxation of financial instruments and of estates, transfer pricing and tax litigation.

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News from the Arab world

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Sharjah FDI Forum

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).

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Marocco-Italia: GCF presente all'inaugurazione dell'alta velocità

S.M. Mohammed VI Re del Marocco ha partecipato all'inaugurazione della stazione ferroviaria di Rabat, invitando all’evento le imprese scelte da ONCF (Ferrovie del Marocco) per l’esecuzione dell’opera: l’impresa marocchina TGCC, per le opere civili, e la Generale Costruzioni Ferroviarie per l’intero ventaglio delle opere tecnologiche.

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Algeria-Italia: Saipem Technology and Innovation Day

Si è svolto ad Algeri il Saipem Technology and Innovation Day per i 50 anni di presenza in Algeria.

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Tunisia-Italia: la pasta per un'economia sostenibile e lotta sprechi

La pasta alimento principe della tradizione italiana, ma anche prodotto sostenibile per l'economia circolare e la lotta agli sprechi.

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Arabia Saudita: allo studio criptovaluta di Stato

Il Regno dell’Arabia Saudita sta pianificando il lancio di una propria criptovaluta di Stato per il 2019, come ha dichiarato Mohsen Al Zahrani, Direttore del settore innovazione (SPARC) presso l’autorità monetaria saudita (SAMA), ovvero l’ente di controllo finanziario del Paese.

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Accordo JIACC

Bahrein-Italia: Cavalli design per la Eastern Tower

Roberto Cavalli curerà tutto il design degli interni della Eastern Tower del complesso di Waterbay, a Manama, la capitale del Bahrain.

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Libano: Cosco apre linea con il Libano e guarda alla Siria

Le navi cinesi arriveranno nel porto di Tripoli: la ricostruzione della Siria creerà una richiesta di 30 milioni di tonnellate di capacità di carico all’anno.

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News & Data JIACC

Kuwait-Italia: intervista all'Amb. Scognamiglio

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

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Tunisia-Italia: la collezione del MAXXI al Bardo

"Classic Reloaded. Mediterranea", a cura di Bartolomeo Pietromarchi, direttore MAXXI Arte, e Eleonora Farina, è la mostra ospitata dal 29 novembre al Museo Nazionale del Bardo di Tunisi. 

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News from Italy

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Italia-Giordania: S.E. Fayez Khouri a Palazzo Marino

Potenziare gli scambi culturali, turistici e di studio, sfruttando anche la ripresa dei voli diretti tra Milano e Amman. Con questo intento oggi il Presidente del Consiglio comunale Lamberto Bertolé ha ricevuto a Palazzo Marino S.E. Fayiz Fahran Saleh Khouri, Ambasciatore del Regno Hascemita di Giordania, accompagnato da Khaled Mohammed Al Wehsheh, Console Onorario Regno Hascemita di Giordania a Milano.

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Italia-Egitto: verso gemellaggio fra Alessandria e Catania

 Catania sta lavorando a un rarissimo gemellaggio fra una città italiana e una egiziana: quello con Alessandria d'Egitto che prevedrebbe non solo culturali ma anche economiche in particolare nei settori di turismo, agro-industria, pesca e nanotecnologie.

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Italia-Tunisia: incontro a Reggio Calabria con S.E. Moez Sinaoui

Prima visita in Calabria di un ambasciatore tunisino, stamani presso la Sala Conferenze di Palazzo Alvaro si è tenuto il seminario economico “Reggio e la Calabria: Prospettive ed Opportunità Economiche con la Tunisia”.

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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

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JIACC's Tax Commission

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3° Annual MENA VAT

3° Annual MENA VAT

On 26-27 November, the 3rd MENA VAT took place in Dubai.

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Bahrain / VAT Registration: ready for kick off

 In the GCC, VAT implementation has now its own benchmarks.

This is evident looking at the implementation process undergoing in Bahrain.

The Ministry of Finance confirmed that the Registration process will start with “large Firms” (BHD 5 Million annual supplies), called to register before January 1, 2019.

Such “large Firms” are called to register with the National Bureau for Taxation (NBT), the Authority charged to manage the new tax. Registration applications will be received until January 1, 2019.

Similarly to the UAE and Saudi experiences, a series of briefings will be held to ensure VAT taxable persons are ready for the implementation of the first VAT phase on January 1, 2019.

The MoF ha salso underlined that around 90 basic foodstuffs (and basic goods and services) are exempt from VAT, in addition to a number of other goods and services to be mentioned in the executive regulations, including education and health services.

The executive regulations will include a detailed explanation of the operational and procedural aspects of the law.

The JIACC Tax Commission is at your disposal for further clarification and support.

Author: Roberto Scalia (Chairman JIACC Tax Commission)

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KSA / Time for Registering (or being sanctioned)

The General Tax Authority on Tax and Zakat (GAZT) has already discovered more than 300 violations (as of August 2018) in the retail sector alone and issued first sanctions.

Since the introduction of the tax, GAZT has carried out a number of awareness campaigns – such as the FTA in the UAE and, shortly, the MoF in Bahrain – to help ensuring the proper application of VAT and encouraged customers to use the VAT application system to help them identify businesses that are VAT registered.

Again, the GAZT has encouraged businesses to duly comply with all their duties and, in first place, to check whether they are called to register before 31 December 2018.

The underlying message is: comply or pay sanctions.

The JIACC Tax Commission is at your disposal for further clarification and support.

Author: Roberto Scalia (Chairman JIACC Tax Commission)

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