• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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The final version of International Financial Reporting Standard (IFRS) 9 – with its mandatory date of implementation from January 1, 2018 – is one of the most complex accounting standards issued by the International Accounting Standards Board, and one with serious impact on banks worldwide. IFRS 9 has been under development since the time of...

 

Over the past decade Jordan’s business environment has experienced significant and rapid changes in terms of its complexity and competitiveness in global markets. Increased demand for qualified labour, coupled with growing international competition for resources, have forced Jordanian businesses to remain flexible and become more resourceful....

Chapter | Tax from The Report: Jordan 2018

This chapter contains an overview of the tax framework in which local and foreign investors operate in Jordan including a look at the changes to the tax code that are currently underway and a breakdown of the investment incentives available in the country’s special economic zones. This chapter contains a viewpoint from Osama Shakhatreh, Assurance Partner, Ernst & Young Jordan.

As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.

Myanmar’s tax regime has undergone significant changes since the 2012 Reform Action Plan of the previous government. The plan includes broadening the tax base while lowering rates, placing reliance on indirect taxes, introducing self-assessment in direct taxation and rationalising the tax incentive system for investment.

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Myanmar’s Internal Revenue Department (IRD) is undergoing tax reforms by gradually introducing an income tax self-assessment system and broadening the tax base to get revenue to lower rates, particularly indirect taxes, much like in neighbouring India and Malaysia.