Hassaan(ACA)(ACCA)(CTA)(B.Sc in Agriculture) Chartered Accountant’s Post

On my journey to become a Cost & Management Accountant, I encountered a fascinating subject - Indirect taxation. Let's explore GST with a specific focus on Entry 9C: Government Service Exemptions. Key points: - Government-to-government services are exempt when paid via grants. - Services from a government entity to a government-specified person are exempt if paid through government grants. - Direct services from a government entity to an individual are not exempt. #GST #icmai #Indirecttax #cma #TaxExemptions

OECD Publishes 2024 Review on Country-by-Country Reporting: Key Insights for GCC Businesses On September 16, 2024, the OECD released its seventh annual peer review report, focusing on the implementation of Country-by-Country (CbC) reporting, a core part of the BEPS (Base Erosion and Profit Shifting) Action 13 Minimum Standard. The BEPS Action 13 Report provides a framework for multinational enterprises (MNEs) to report essential financial data for each country where they operate. This includes revenue, profit before tax, taxes paid and accrued, number of employees, capital, and tangible assets. The goal is to help tax authorities better understand the structure and tax liabilities of large MNEs, improving global tax transparency and risk assessments. This 2024 peer review evaluates the progress made by 138 jurisdictions in implementing CbC reporting. It highlights key achievements, including: ✔️115 jurisdictions have introduced a domestic legal framework for CbC reporting. ✔️93 jurisdictions have entered into agreements for sharing CbC reports between tax authorities. ✔️99 jurisdictions passed confidentiality and data safeguard assessments, with none needing further action. ✔️84 jurisdictions demonstrated effective use of CbC reports, reflecting an increase from last year. All GCC nations (Bahrain, Oman, Qatar, Saudi Arabia, and the UAE) have successfully implemented CbC reporting and received positive assessments. Kuwait was not included in this review but is expected to be covered in the 2025 report after joining the OECD/G20 Inclusive Framework in November 2023. As the global tax landscape continues to evolve, the GCC's commitment to transparency and cooperation underlines the importance of adhering to these international standards. Do you run a business in the GCC? Reach out to Oblique Consult: https://lnkd.in/ecdSz4uq for expert guidance on navigating the region’s tax complexities and ensuring compliance with global standards. #gccbusiness #cbcreporting #oecdreview #taxtransparency #bepsaction13 #uaebusiness #multinationalenterprises #globaltax #taxcompliance #obliqueconsult

Global taxation making its impact in GCC.... Bahrain has announced Domestic Minimum Top-up Tax (DMTT) on MNEs effective January 1, 2025. MNEs must consider and dicuss its impacts and compliance requirements resulting from Pillar 2 legislation. Talk to experts...contact #Deloitte See Deloitte's recent alert on Pillar 2. #pillar2 #internationaltaxation #gcctax #deloitte Kashif Jahangiri, Peter Bourke

On 1 September 2024, the regional Tax landscape has shifted, yet again with the release of 'Decree-Law No. (11) of 2024 (Domestic Minimum Top-up Tax - DMTT)' regarding the implementation of Tax on Multinational Enterprises (MNEs) located in the Kingdom of #Bahrain. Bahrain is the first #GCC country to implement a #DMTT aligned with the Organization for Economic Cooperation and Development (OECD) Base Erosion Profit Shifting (BEPS) Pillar Two Inclusive Framework. The rules prescribed under the #DMTT Law are complex and will have a direct impact on MNE Groups operating in Bahrain. With less than 4 months to implement for most impacted businesses, it is critical for MNE Groups to assess the impact on their Bahrain operations for a smooth transition. Our expert speakers will cover: -       Scope & applicability of the Bahrain DMTT -       Key exclusions (De Minimis exclusion and Safe harbors) -       DMTT calculation methodology -       Key administrative aspects of the Bahrain DMTT - Next steps for impacted businesses We are pleased to host a series of webinars for business leaders globally who may have a potential impact on their operations in Bahrain. To accommodate participation, we will host three sessions to ensure you have a schedule that will align with your schedule. Please register for the webinar by selecting the appropriate link, best suited for your time zone: Session 1 UAE (10:00 AM – 11:00 AM) Singapore/Beijing (02:00 PM – 03:00 PM) Tokyo (03:00 PM - 04:00 PM) Sydney (04:00 PM - 05:00 PM) https://lnkd.in/ds9-86Cz Session 2 UAE (01:00 PM – 02:00 PM) UK (10:00 AM – 11:00 AM) CET (11:00 AM – 12:00 PM) https://lnkd.in/dPAhm6Au Session 3 Los Angeles (09:00 AM – 10:00 AM) Houston (11:00 AM – 12:00 PM) New York (12:00 PM – 01:00 PM) https://lnkd.in/d9iMMYp2 #Tax #TaxAdvisory #CorporateTax #Bahrain #Regulations #VAT #webinar #DMTT #Taxinsights #MNEs #KPMG #KPMGBH #DMTTlaw #implimentation #OECD #BEPS #global #marketplace #Bahrain #UAE #Saudi #Kuwait #Oman #India #Pakistan #Srilanka #USA #UK #Singapore #Qatar #Australia #Tokyo #Sydney KPMG; KPMG Lower Gulf; KPMG in Kuwait; KPMG Saudi Arabia; KPMG Sri Lanka; KPMG India; KPMG Australia; KPMG UK; KPMG US; KPMG Singapore; KPMG China; KPMG in Qatar Jamal Fakhro; Mubeen Khadir; Mahesh Balasubramanian, FCA; Salman Manjlai; Harish Gopinath; Shashank Chandak CPA, ACA; Hassan Khalaf; Mansoor AlWedaie, MBA; DaoHan Hung; Abhinav Dhamija

Simplify Your Tax & Audit Processes with BSP Tax Experts 🌟 Expert Services in Oman 🌟 ✅ VAT Registration & Filing ✅ Income Tax Filing & Compliance ✅ Comprehensive Audit Services Why choose us? 🔹 Experienced professionals 🔹 Hassle-free solutions tailored to your needs 🔹 Reliable and timely service 📞 Contact us today to streamline your financial operations and stay compliant! 👉 Mobile: 9014 1441/9811 6817 📧 info@bspoman.com #VAT #IncomeTax #AuditServices #OmanBusiness Let me know if you’d like to adjust the tone or content further!

🚨 **Important Update for GST Registrants: GSTN Issues Advisory on Form GST DRC-03A** 🚨 Attention all businesses and tax professionals! 📊 The Goods and Services Tax Network (GSTN) has recently issued an advisory regarding Form GST DRC-03A, and it’s crucial to stay ahead of the curve to ensure compliance. Form GST DRC-03A is utilized for the voluntary payment of taxes due, which is often necessary when self-assessing liabilities. As businesses navigate this process, the GSTN's advisory provides essential guidelines that can help streamline your submissions and avoid potential pitfalls. Here are key points from the advisory: 1. **Mandatory Fields**: Ensure that all mandatory fields in the form are accurately filled to avoid rejection and delays in processing. 2. **Proper Declaration**: Clearly declare the amount of tax being paid. Ambiguities can lead to discrepancies that may complicate your compliance journey. 3. **Payment Reference**: Always ensure your payment reference is valid and corresponds with the GST returns. Inaccurate references may lead to difficulties in reconciliating your payments. 4. **Upload Confirmation**: After submission, keep a copy of the acknowledgment for your records. This document will serve as proof in case of any disputes or audits. 5. **Timely Submission**: It's imperative to act swiftly. Delaying the submission could result in penalties and interest on the outstanding amounts. 6. **Seek Assistance**: If you're unclear or face challenges with the submission, don't hesitate to consult with your tax advisor or professional services firm. They can provide valuable insights and guidance to ensure compliance. Stay informed and proactive! 💡 Adhering to these guidelines will not only help you make timely payments but also foster a culture of compliance within your organization. For any detailed inquiries, you can visit the official GST portal or consult your professional tax advisor. Let’s navigate the GST landscape together for a smoother business operation! #GST #GSTN #FormGSTDRC03A #TaxCompliance #BusinessUpdates #TaxAdvisory #Finance #Entrepreneurship #RegulatoryNews Note: AI-powered post. May contain errors.

I have been invited by the Committee for Members in Practice to conduct a webinar on Mastering ITR Filing for Salaried Individuals with Income from India & RSU/ESOPs from Foreign Countries . 📅 Date: 12 July 2024 🕒 Time: 1.00 PM to 3.00 PM In this session, I will delve into: 🔹 Understanding the complexities of filing Income Tax Returns for salaried individuals 🔹 Navigating the nuances of income from RSUs and ESOPs earned in foreign countries 🔹 Practical tips and strategies to ensure accurate and compliant tax filing Whether you're a professional handling multiple clients or an individual seeking clarity on your tax obligations, this webinar is designed to provide comprehensive insights and practical knowledge. I look forward to sharing my expertise and helping you master the intricacies of ITR filing in these specialized areas. Stay tuned for more details, and feel free to reach out if you have any questions or need further information. Thanks to! CA Umesh Sharma Ranjeet Kumar Agarwal CA. (Dr). ROHIT RUWATIA AGARWAL 🇮🇳 #ITRFiling #Taxation #Webinar #RSU #ESOP #IncomeTax #ProfessionalDevelopment #SalariedProfessionals

🌟 December 2024 Taxation Updates: Your Guide to Key Developments 🌟 We are excited to present our Middle East newsletter for the month of December, filled with valuable insights to keep you informed and well-prepared for the year ahead. Here's what’s inside: 1️⃣ Introduction of Domestic Minimum Top-up Tax (DMTT) in the UAE: A new chapter in UAE’s tax regime! Learn how the DMTT impacts businesses operating within the country and aligns with global tax practices. 2️⃣ Amendments on Unincorporated Partnerships, Foreign Partnerships, and Family Foundations: Stay up-to-date with recent changes affecting unincorporated partnerships, foreign partnerships, and family foundations. 3️⃣ Profit Margin Scheme – VAT: Simplifying VAT compliance! Discover the nuances of the Profit Margin Scheme. 4️⃣ IFRS 15 – Revenue from Contracts with Customers: A brief yet insightful overview of IFRS 15 covering 5 steps for revenue recognition. 🎄 As we embrace the holiday spirit, we wish you and your loved ones a Merry Christmas filled with joy and cheer! 🎆 As we step into the new year let’s take a moment to reflect on the year gone by and gear up for the opportunities ahead. May the New Year bring new opportunities, success, and growth to your endeavors! 💡 Have doubts or need clarification? Feel free to reach out to us! Our team is here to assist you with any compliance-related queries and provide tailored solutions for your business needs. #TaxationUpdates #VAT #DMTT #IFRS15 #Compliance #FinancialReporting #MerryChristmas #HappyNewYear Mohamed Yaser Arafath Arun Kumar Shameem Ahamed K T Mohammed Salmanziadh MOHAMMED SAHAL Mohamed Jamil Nasurudeen

If your business has a GST turnover of $75,000 or more, you must register for GST in Australia. But that’s not the only eligibility requirement! Not sure if you need to register? We’re here to help! At JBB, we can: -         Determine if you need to register for GST; -         Get you registered quickly and efficiently; and -         Assist with all your GST reporting requirements. Reach out to us today to ensure your business stays compliant! #GST #tax #launceston #tasmania #australia #accounting #smallbusiness #compliance #JBB #GSTregistration #GSTaustralia #businesscompliance #taxtips

We are pleased to share our GCC Tax Recap Overview for the quarter ended March 2024, encompassing the recent tax and regulatory developments in the GCC region. As the GCC region evolves into mature tax jurisdictions, we are witnessing a consistent pace of tax and regulatory changes. Our Recap contains an outline of the recent changes happening around the GCC along with the viewpoint of our tax experts in each respective jurisdiction. It is imperative for businesses to understand such changes and its impact to ensure business continuity. Surandar Jesrani Abdullah Alsudais, SOCPA Anas Salhieh, ADIT Jikku Luke Aunali Merchant Ankur Jain Rishabh Tandon #mmjsconsulting #GCCtax #taxupdates #regulatorychanges #GCCregion #taxlaw #taxexpertise #businessimpact #taxreform #businesscontinuity #taxconsulting #taxadvisory