Saudi Arabia clarifies on income tax after finance minister’s comment

Abu Dhabi: Saudi Arabia has clarified that introducing an income tax is not under discussion. And that the subject has not been raised at the cabinet or any government level, Saudi Press Agency reports. This followed a report in Bloomberg that quoted Finance Minister Mohammed Al Jadaan as saying the “kingdom hasn’t ruled out income […]

Head to Swiss canton of Nidwalden for world’s lowest corporate tax rate of 9.8%

Bern: Hong Kong will soon lose its status as the place with the world’s lowest corporate tax, replaced by the small mountainous canton of Nidwalden in Switzerland, a study found. That’s according to a taxation index by BAK Economics that regularly measures the attractiveness of Swiss cantons compared with each other as well as locations […]

COVID-19 forces traditional Indian businesses to undergo makeover

New Delhi: The lockdown and restrictions due to COVID-19 has led to several entrepreneurs finding it impossible to keep their businesses afloat. But many have turned the pandemic into an opportunity and are not only doing brisk trade but also ensuring their workforce is able to retain their jobs. However, in doing so, while some […]