December 31, 2008

GCC Set To Impose Income Tax Soon

The Gulf States have agreed to implement corporate and individual income tax by 2012, and are now planning to bring the deadline closer, reports Emirates Business. "The prospect of drastic reductions in oil revenues and the resultant fiscal deficits has forced the six countries to examine whether implementation can be done earlier than 2012," sources told the paper.

http://www.kippreport.com/kipp/economic-crisis-could-cut-25-million-jobs-globally/?subid=4#focusnews

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