SPDF Group

https://www.facebook.com/share/p/1HjU3v1gMS/?mibextid=wwXIfr

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Unexplained capital outflows from Turkey surged again during a month when voters went to the polls, repeating the money drain it suffered in the run-up to national elections a year ago.

The European Court of Justice ruled that the European Council had not presented enough evidence that Petr Aven and Mikhail Fridman were involved in efforts that “undermine or threaten the territorial integrity, sovereignty and independence of Ukraine”. https://ow.ly/uKrn50ReMrM

Two Russian oligarchs win court ruling over EU sanctions European court of justice upholds challenge by Petr Aven and Mikhail Fridman, who remain on list for now

"What we're seeing is a very cautious consumer in China, a declining property market and reduced export demand," Unilever finance chief Graeme Pitkethly told an April-June earnings call last week.

Major global firms warn of slow China sales as post-pandemic surge fades Global firms from consumer goods giant Unilever to automaker Nissan and machinery maker Caterpillar have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce.

With the introduction of Federal Decree-Law No. 47 of 2022 on 9 December 2022, businesses in UAE will become subject to Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.
As per the Ministry of Finance, the Corporate Tax rates are:
• 0% for taxable income up to AED 375,000
• 9 % for taxable income above AED 375,000 and
• A different tax rate (not yet specified) for large multinationals that meet specific criteria set with reference to 'Pillar two' of the OECD Base Erosion and Profit Shifting Project.

EU lays down guidelines for CBI Programmes: A push for higher security, stronger standards
https://ow.ly/n8ee50PoaKi

The Government of Dubai is actively exploring the application of Common Law within Dubai's Free Zones to enhance the city's business environment and boost its economic appeal and efficiency. This potential adoption aligns with Dubai's progressive approach to cultivating a dynamic, responsive legal framework that caters to investors’ aspirations and bolsters global competitiveness. The initiative supports the economic objectives outlined in the Dubai Agenda D33, which aims to position Dubai among the top three global economic hubs.

Dubai Government Studies Implementing Common Law in Free Zones

www.difc.ae

UAE Corporate Tax legislation

1. UAE Corporate Tax legislation UAE corporate tax legislation overview

The Russian Cabinet has reportedly submitted a proposal for the suspension of beneficial withholding tax rates for dividends and interest under Russia's tax treaty with "unfriendly" countries. The treaties would not be terminated or suspended.

terminated.to

Ukraine's Ministry of Finance issued a release on 16 June 2023 announcing that the Cabinet of Ministers has approved a draft law for terminating the 2003 income tax treaty with Syria.