Search Results for: Nigeria
10 results out of 290 results found for 'Nigeria'.
ASIA REGULATORY ROUND UP – NEW SALES AND SERVICES TAX LAUNCHED IN MALAYSIA
A SALES and Services Tax (SST), replacing Malaysia’s now abolished goods and services tax (GST), has come into force (from September 1), via the new Sales Tax Act 2018 and the Service Tax Act 2018. The SST is a single-stage tax, a sales and services tax imposed on manufacturers and service providers rather than end customers, as with the 6% GST.…
MARRIOTT FD PAUL SIMMONS PERSONIFIES THE HUMAN SIDE OF FINANCE
Paul Simmons, Chief Financial Officer, Marriott International Middle East and Africa, provides a glimpse into running the finances of the region’s largest international hotel operator.
The Middle East – particularly the countries of the Arabian Gulf – is known for its impressive skyline of luxury hotels.…
HAJJ ECONOMICS MEAN BIG BUSINESS IN SAUDI ARABIA AND BEYOND
The Hajj pilgrimage to Mecca is one of the five pillars of Islam, a religious duty every Muslim should perform once in their lifetime. But with 1.7 billion Muslims worldwide and the Hajj only occurring over five days every year, the event is a logistical challenge for the Saudi Arabian government, tour operators, hospitality service providers, retailers and accountants.…
PASSENGER EXPERIENCE COMES TO THE FOREFRONT AT DUBAI AIRPORT SHOW
Enhancing the quality of passenger experience while maintaining maximum security was a recurring theme during the Dubai Airport Show 2018. The annual airport industry event, held from May 7 to 9, drew more than 7,500 visitors.
Covering 15,000 square metres of space across three halls of the iconic Dubai International Convention and Exhibition Centre, its 18th edition hosted more than 350 exhibitors from 60 countries.…
NIGERIAN DRINKS MANUFACTURERS FEAR IMPACT OF NEW EXCISE DUTY REGIME
THE NIGERIAN drinks industry and trade unions have expressed opposition to planned increases in excise duty on alcohol, which will rise on June 4, with two additional planned increases in 2019 and 2020. Duties are currently low – while they are at a flat rate of 20%, this can be (and is) reduced by manufacturers claiming input costs against what they charge on their products.…
AFRICAN COMMONWEALTH ANTI-CORRUPTION CENTRE TARGETS GROWTH THROUGH FIGHTING GRAFT
CORRUPTION saps economic competition that drives productivity improvements and grows emerging market economies – this is a key reason behind the establishment of the Commonwealth Africa Anti-Corruption Centre (CAACC). Another is the established link between the perception of risk from corrupt practices in a country and foreign economic investment.…
INTERNATIONAL TECHNICAL ROUND UP - EU TO FORCE INTERMEDIARIES TO REPORT TAX AVOIDANCE
*A newly approved European Union (EU) directive on transparency requirements for tax intermediaries will insist that accountants designing or promoting aggressive tax planning schemes report them to national tax authorities. The requirements, approved by the EU Council of Ministers, apply from July 1, 2020, and member states will have to fine intermediaries, including lawyers and bankers, that fail to report.…
NONWOVENS DEMAND GROWS ACROSS AFRICA AND MIDDLE EAST, BUT OVER AND UNDER-PRODUCTION PROBLEMS PERSIST
THE NONWOVENS market in the Middle East and Africa (MEA) is increasingly important to the global nonwovens industry, with rising consumer demand being generated by middle classes that are growing in size. Countries in the region are also comparatively young, with high birth rates, boosting demand for diapers and wipes.…
WESTERN COUNTRIES INTRODUCING DPAS 25 YEARS AFTER USA – BUT CAUTION ABOUNDS IN ROLL-OUT
DEFERRED Prosecution Agreements (DPAs), that allow companies and individuals that admit to wrongdoing and cooperate with investigators to pay a fine and avoid prosecution, are becoming increasingly common worldwide. Enabling wrongdoers to avoid being debarred from bidding for many contracts and providing law enforcers with a commitment that companies and individual fraudsters will avoid fraud in future, DPAs offer benefits for police and suspects.…
INTERNATIONAL TECHNICAL ROUND UP – EU RELEASES TAX EVASION BLACK LIST
*The European Union (EU) Council of Ministers has published a blacklist of jurisdictions it thinks do not cooperate sufficiently with international efforts to reduce tax evasion. They are American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad & Tobago, Tunisia and the United Arab Emirates (UAE).…