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News from JIACC

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AIM Logo

New Partnership: AIM and JIACC

We are proud to announce that JIACC signed a new strategic Partnership with the Annual Investment Meeting (AIM), the World's leading FDI Forum.

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The Annual Investment Meeting produces a world-class investment conference with a faculty of topnotch global experts, renowned academics, and seasoned practitioners to enlighten AIM audiences with current investment trends in an ever-changing world of FDI. The 2018 Conference gathered more than 100 influential FDI thinkers and renowned experts offering participants the latest investment intelligence, trends and updates.

Learn more about the Annual Investment Meeting

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JIACC welcomes Martinez & Novebaci law firm!

We are are proud to welcome among our Members Martinez & Novebaci, a law firm specialized in corporate legal affairs and consultancy. To this purpose, lawyers, chartered accountants, labor consultants, experts in M&A, finance and real estate work together in the law firm as a team to provide the best and the most accurate solutions. Headquartered in Milan, Martinez & Novebaci can operate in several Arab countries (Saudi Arabia, Egypt, UAE, Qatar, Syria, Iraq).

 

 

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Our Members in the Arab world!

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SACE SIMEST con Global Display Solutions per metro Dubai

SACE SIMEST, il Polo dell’export e dell’internazionalizzazione del Gruppo CDP, e BNL Gruppo BNP Paribas sostengono la crescita negli Emirati Arabi Uniti di Global Display Solutions (GDS), società attiva nella progettazione e installazione di Display LCD per informazioni ai passeggeri.

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News from the Arab world

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Energia Petrolio Gas JIACC

Arabia Saudita-Italia: due contratti per Saipem

Saipem vince due contratti EPIC per un totale di 1,3 miliardi di dollari nei campi offshore a Berri e Marjan.

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Algeria-Italia: ENEA firma contratto di assistenza

L’ENEA fornirà servizi di assistenza tecnica nei settori delle energie rinnovabili e dell'efficienza energetica in Algeria, quale membro del partenariato vincitore della gara bandita nel 2017 da EuropeAid, alla quale hanno partecipato 15 raggruppamenti.

Read more.

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Accordo JIACC

Egitto-Italia: nuova agenzia Eurochiller

Techno Converting Service seguirà la vendita e l’assistenza tecnica degli impianti per la refrigerazione industriale della Eurochiller.

Read more.

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Tunisia-Italia: olio di ricino per bioraffinerie ENI

Eni ha lanciato a Gafsa, in Tunisia, un innovativo progetto pilota per la produzione di biocarburante a partire dall'olio di ricino, che verrà utilizzato nella bioraffineria Eni di Venezia, e successivamente nella bioraffineria di Gela.

Read more.

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Marocco-Italia: Scafi opererà rimorchio portuale

Nel nuovo porto di Safi a sud di Casablanca, a operare nel rimorchio sarà un’azienda italiana: la Scafi.

Read more.

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Giordania: Petra Livestock Expo 2019

PLE is an international exhibition specialized in a livestock sector carried out by the Association of Agricultural Engineers and the Arab Society for Animal Science in the Union of Arab Agricultural Engineers.

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News from Italy

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Italia-Tunisia: delegazione visita Rea Impianti

Visita condotta a Rosignano Marittimo dalla delegazione tunisina del  progetto "Reutilisation Economie Circulaire Participation Italie Tunisie – REP.IT", in presenza della Rea Impianti.

Read more.

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Energie rinnovabili Jiac

Italia: Francesco La Camera all'IRENA

L’Agenzia internazionale per le energie rinnovabili (Irena) con sede ad Abu Dhabi ha un nuovo direttore, l'italiano Francesco La Camera.

Read more.

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Italia-Giordania: Amb. Cassese inaugura "The Land of Jordan"

L'Ambasciatore d'Italia ad Amman, Fabio Cassese, ha inaugurato a Firenze "The Land of Jordan", la mostra sulle missioni archeologiche italiane in Giordania.

Read more.

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Italia-Marocco: nuovo volo Pisa-Casablanca

Per la prima volta la Toscana sarà collegata con il Marocco. È stato infatti lanciato il collegamento tra Pisa e Casablanca dalla compagnia low cost degli Emirati Arabi, Air Arabia.

Read more.

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JIACC Tax Commission

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New Bahrain VAT

In the coming weeks, the JIACC Tax Commission will publish news focusing on the recent introduction of VAT in Bahrain. Stay tuned to learn more on a current trending topic!

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Bahrain – VAT and Real estate

Unlike the UAE and KSA, the Bahraini VAT legislation provides for an exemption for the supply or lease of both residential and commercial buildings. Bahrain is the first GCC country that implements a VAT exemption for the supply and lease of commercial buildings. The exemption may have far reaching consequences for the real estate market.

Furthermore, a zero rate is applicable on construction services related to new buildings (residential and industrial). Goods supplied by a business that supplies construction services and which are supplied in the course of providing construction services for a new building, are also zero rated. This includes for instance building materials and materials necessary to construct specialised raised flooring for computer server rooms.

However, goods like furniture that is not affixed to the building, swimming pools and decorative lighting, paintings, carpets and murals and other artwork are not zero rated.

The zero rate is also not applicable on restoration works, demolition of existing buildings and architects and interior design fees. VAT incurred on these purchases will therefore constitute a cost for businesses who want to sell or lease their new constructed building.

Authors: Thomas Vanhee (Aurifer Middle East) and Roberto Scalia (Chairman JIACC Tax Commission)

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Bahrain – VAT Telecommunication and Electronic services

Telecommunications and electronic services supplied to a non-registered customer shall be taxable at the place of use and enjoyment of the services on the date of supply. Supplies made to taxable customers will be taxed at the place of residence of the customer.

The regulations provide some further information on the determination of the place of use and enjoyment as well as how to determine the place of residence of a customer who is a taxable person.

Authors: Thomas Vanhee (Aurifer Middle East) and Roberto Scalia (Chairman JIACC Tax Commission)

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Bahrain – VAT and Food items

Bahrain implemented the optional provision in the GCC VAT Agreement and applies a zero rate on the supply and import of certain basic food items. Bahrain is again the first GCC country doing this. The Bahraini Tax Authority published the list with zero rated items, indicating that 94 types of food will fall under this special rule. The list includes ten categories: (i) Meat and fish; (ii) Fruits and vegetables; (iii) Coffee, tea and cardamom; (iv) Wheat and rices; (v) Sugar; (vi) Children’s food; (vii) Water; (viii) Salt; (ix) Egg products; and (x) Bread. Note that the supply of food by restaurants, coffee shops or caterers will still be subject to the standard rate. There is a great deal of conflict expected around the interpretation of mixed supplies which include a zero rated part, or between take in and take out products.

Authors: Thomas Vanhee (Aurifer Middle East) and Roberto Scalia (Chairman JIACC Tax Commission)

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