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Articles for tag: additional, Arab, Emirates, impose, January, large, minimum, Multinationals, Tax, United

December 9, 2024

News Desk

The United Arab Emirates will impose a minimum additional tax of 15% on large multinationals from January

A general view of Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. — Reuters DMTT part of the OECD Global Minimum Corporate Tax Agreement. The UAE is considering introducing corporate tax incentives. The incentive will offer a refundable tax credit of up to 50%. DUBAI: The United Arab Emirates will impose a 15% minimum supplementary tax (DMTT) on large multinational companies operating in the country from January, the finance ministry said on Monday, as the government seeks to boost non-oil revenue. The DMTT is part of the OECD’s global minimum corporate tax agreement, which

December 7, 2024

News Desk

Rs 26.07 per unit to be charged for additional winter usage

Electricity transmission towers are pictured in Karachi on July 26, 2022. — Reuters The government is reviewing the structure of winter electricity tariffs nationally. Incentives introduced for conservation amid rising energy demand. Additional charges apply beyond seasonal consumption limits. ISLAMABAD: The National Electricity Regulatory Authority (Nepra) has approved the federal government’s Winter Demand Initiative for XDISCOS and K-Electric (KE) consumers, it said The News on Saturday. According to a Nepra statement on Friday, the winter package will benefit net metering and wheeling industrial consumers, even though they were not initially included in the government’s demand. Under the winter pack, the

November 3, 2024

News Desk

Government is considering additional tax measures amid FBR revenue shortfalls

A worker delivers bundles of cloth at a market in Karachi. — Reuters/File Officials say the IMF will send its team to Pakistan in December. The FBR may propose to increase the rates of withholding tax on all imports. Hike withholding tax on the sale of land, buy on cards as well. ISLAMABAD: The incumbent government has no choice but to consider implementing additional revenue measures in the form of mini-budgets or spending cuts amid the failure of the Federal Bureau of Revenue (FBR) to meet its tax targets. The News reported on Sunday. The International Monetary Fund (IMF), although

October 25, 2024

News Desk

Dubai’s aviation sector promises an additional 185,000 jobs over the next 5 years

A representational image showing an air marshal piloting an airplane down a runway. — Unscrew Attention job seekers! Dubai is set to create 185,000 new jobs by 2030, taking its total workforce in aviation-related roles to 816,000, a recent report by Emirates Group and Dubai Airports has revealed. This means there will be no slowdown in new aviation hiring, which began immediately after the peak of the COVID-19 crisis in late 2021, Gulf News was mentioned. During this period, recruitment of pilots, cabin crew and ground staff reached unprecedented levels. “Our growth plans will create even more skilled jobs and

October 25, 2024

News Desk

The government is considering asking for an additional $2 billion from the IMF in climate finance

An undated image showing the seal of the International Monetary Fund (IMF) in Washington, DC. — AFP/File FinMin Aurangzeb will attend the annual meeting of the IMF and the World Bank in the US. The finance czar will address the issue of climate finance during the hearing. Islamabad is eyeing an additional $1.5 billion to $2 billion in loans from the lender. ISLAMABAD: After managing to secure a much-needed fresh bailout from the International Monetary Fund (IMF), the incumbent government is considering exploring the possibility of augmenting the lender’s $7 billion Extended Fund Facility (EFF) program with climate finance from

September 7, 2024

News Desk

Discos are allowed to charge an additional Rs 1.75/unit

Islamabad: The National Electricity Regulatory Authority (Nepra) has imposed a surcharge of Rs 1.75 per unit on state-owned distribution companies and privatized K-Electric, with effect from the next three months. The adjustment is intended to recover Rs 43.23 billion through quarterly tariff revisions for the fourth quarter of 2023-2024, spanning April to June 2024. During a public hearing on August 26, Nepra chairman Waseem Mukhtar presided over a meeting where Discos said the adjustments were mainly due to lower sales compared to forecasts for the quarter. Nepra noted that some Discos such as PESCO failed to meet their energy needs

August 9, 2024

News Desk

PSDP likely to be cut by an additional Rs 400 billion

Federal Planning Minister Ahsan Iqbal said the Public Sector Development Program (PSDP) may face further cuts, with the budget potentially reduced by an additional 200 to 400 billion rupees. In an interview with Express NewsAhsan Iqbal explained that due to Pakistan’s ongoing economic challenges, the current development budget is insufficient to meet the country’s needs. He noted that increasing the budget allocation would require the imposition of additional taxes, which the public cannot afford at this time. Consequently, the development budget has already been reduced from 1,400 billion to 1,100 billion rupees, and further reductions are now likely. The minister

August 4, 2024

News Desk

The US is preparing to deploy additional warships and fighter jets to the Middle East

WASHINGTON: The United States military has announced plans to deploy more fighter jets and Navy warships to the Middle East. This move is aimed at strengthening defenses against threats from Iran and its allies, Hamas and Hezbollah. The Pentagon made the announcement on Friday, highlighting the growing tension in the region. The US is bracing for possible retaliation from Iran after the assassination of Ismail Haniyeh, a senior Hamas leader, two days ago in Tehran. This incident is part of a series of targeted killings of senior Palestinian officials amid the ongoing conflict between Israel and Hamas in Gaza. US

August 3, 2024

News Desk

The US will deploy additional fighter jets and warships to the Middle East

Listen to the article WASHINGTON: The US military will deploy additional fighter jets and Navy warships to the Middle East, the Pentagon said on Friday, as Washington seeks to bolster defenses following threats from Iran and its allies Hamas and Hezbollah. The US is preparing for Iran to make good on its promise to respond to the killing of Hamas leader Ismail Haniyeh two days ago in Tehran – one in a series of assassinations of senior figures from the Palestinian group as the Israel-Hamas war in Gaza rages . US Defense Secretary Lloyd Austin had approved sending additional Navy

July 28, 2024

News Desk

Prince William asked for pocket money as well as additional tax breaks

Prince William asked for pocket money as well as additional tax breaks Prince William has just been called out for the way he treats charities, despite pocketing a huge sum every day from his Duchy of Cornwall fortune. An insight into all this was shared by royal commentator Daniela Elser. She weighed it all in one of her latest pieces on News.com.au. In the piece he said, “A figure also doing the rounds this week was £1,000,000, or $1.9 million,” and “that’s how much William helped raise earlier this month by playing in a charity polo game , which was

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