The citizens of Oman have rendered an indispensable contribution to the achievements seen during the nation’s continuing development. Our country has attained notable results and accomplishments across social and economic sectors, as well as in fiscal performance, in spite of the global economic challenges that have impacted our economic and national programmes. Our plans strive to address the exigencies…
Global institutions, other countries and private sector actors must see African development as a priority, not just for Africa, but for their interests as well. Due to long-standing internal and external factors, Nigeria and Africa’s economic structures have been skewed to impede development, industrial expansion, job creation and the equitable distribution of wealth. If Nigeria is to fulfil its…
On September 1, 2024 Bahrain became the first GCC country to implement a domestic minimum top-up tax (DMTT) aligned with pillar two of the OECD base erosion profit shifting inclusive framework. The DMTT law applies the global minimum tax of 15% on Bahraini constituent entities of multinational enterprises (MNEs) and contains key operative provisions of pillar two of the OECD global anti-base erosion…
A transformation is sweeping through Saudi Arabia’s legal landscape, marking a pivotal moment in the country’s journey towards modernisation and transparency. With a focus on aligning with global standards, Saudi Arabia is ushering in an era of reform that promises to reshape its legal system and redefine its role on the international stage. These changes are part of the broader Vision 2030 initiative,…
Businesses across Saudi Arabia face an evolving and increasingly complex tax environment as the Kingdom continues to diversify its economy under Vision 2030. With the introduction of value-added tax (VAT) in 2018, the implementation of excise taxes and the forthcoming zakat (a payment under Islamic law used for charitable or religious purposes) and income tax reforms, the regulatory landscape is rapidly…
In the five years leading up to 2022 the government worked to centralise permit applications through an online single submission (OSS) system to make the submission and processing of such applications more efficient. In light of this, Law No. 11 of 2020 on job creation (Job Creation Law) amended Law No. 30 of 2014 on government administration (Government Administration Law). However, in November 2021…
God has bestowed a favour on us by living in an era of unprecedented accelerating progress, in which an innovative spirit prevails in the fields of medicine, technology and science; and wherein the human ability of exploiting the resources enabling the provision of a decent life for all of humanity has multiplied. Numerous technological innovations have brought about greater productivity, prosperity…
Viewpoint:President Nana Akufo-Addo Ghana is currently serving the second of its two-year term on the UN Security Council as a non-permanent member. In the 66 years since the country joined the UN – the first post-colonial African country to do so – this is the third time that we have had the privilege of serving on the council. Ghana is holding firm to the belief that democracy is the…
Viewpoint: Ernest Addison African economies are faced with acute debt challenges, underscored by rising social and infrastructure needs. This is coming amid spillovers from the Covid-19 pandemic, the war in Ukraine, the tightening of global financing conditions and climate change. Public debt in sub-Saharan Africa has reached levels last seen in the early 2000s. The resulting increased debt service…
Viewpoint:Ayesha Bedwei Ibe In 2022 Ghana’s government sought financial and technical assistance from the IMF to strengthen the economy. This decision was taken after several debates about whether the country needed support from the international organisation to improve its economic situation or if the country could resolve the issues by itself. External factors such as the Covid-19 pandemic…
