1. July 2013 Issue 10
Intuit Management Consultancy
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Saudi Arabia created option to apply treaty WHT rates in advance
In recent years Saudi Arabia's tax authority (DZIT) has taken the approach that where
tax treaties are applicable, payments to non-residents should be subject to withholding
tax at the domestic rates, and that relief under the relevant tax treaty would then be
sought via refund.
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Abu Dhabi plans financial centre FTZ
The United Arab Emirates’ President Sheikh Khalifa Bin Zayed Al Nahayan passed
federal decree on 15th February, 2013.
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US TIFA with West Africa
Acting United States Trade Representative Demetrios Marantis has announced in April
2013 that the United States is exploring the possibility of a Trade and Investment
Framework Agreement (TIFA) with the Economic Community of West African States
(ECOWAS).
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Treaty Updates
Bahrain ratified the pending protocol to the 2008 DTA with Brunei, as of 9th June 2013.
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DMCC growth sets the stage for major expansion
The Dubai Multi Commodities Centre Authority announced that it registered 1,270 new
member companies in the first six months of 2013.
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Intuit Research Team
Intuit Management Consultancy
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