EGPC, Suez Canal, CBE Drowning in Dues

• Thursday, 9th July 2015
• by Egypt Oil & Gas

Tax arrears from the Egyptian General Petroleum Authority (EGPC), Suez Canal and the Central Bank of Egypt (CBE) have reached EGP 35bn, Tax Authority Head Abdel Moneim Matar said on Tuesday. He also noted that the amo...

UAE Facing Fiscal Deficit, Mulling IMF Tax Options

• Sunday, 7th June 2015
• by Egypt Oil & Gas

The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE author...

UAE Mulls Remittances Tax in Diversification Drive

• Wednesday, 3rd June 2015
• by Egypt Oil & Gas

A member of the Federal National Council yesterday (Tuesday) proposed that the UAE impose a tax on the billions of dirhams which foreign workers send back to their home countries every year. “The Federal National Coun...