Taxation Archives - Andev Project

World Free Zones Organization News

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An Insight Into SEZs

Special Economic Zones (SEZs) were established in many countries as testing grounds for the implementation of liberal market economy principles. While viewed as economic policy tools for enhancing the acceptability and credibility of industrial transformation policies, attracting domestic and foreign investment and also for the opening up of the economy, SEZs also seek to promote the value addition component in exports, generate employment, encourage import substitution as well as mobilise foreign exchange in the countries for Balance of Payments support.

UAE Corporate Tax law will continue incentives for free zone based entities

The UAE Ministry of Finance (MoF) has released a public consultation document inviting comments from stakeholders on the proposed legislation. A progressive step by the Ministry, which provides an opportunity for businesses to play a key role in formulating the UAE Corporate Tax law.

While there is no tax on individual income, income from activities carried out by individuals through a commercial license would attract the tax. Further, federal and emirate governments, their departments, and companies carrying out sovereign activities, companies engaged in the extraction of natural resources, charities, pension funds, investment funds (subject to conditions) would be exempt.

Resources, energy export earnings set for record $425bn

Australia’s resources and energy export earnings are forecast to surge to a record high $425 billion for 2021-22. Minister for Resources and Water Keith Pitt said the latest forecast, from the Department of Industry, Science, Energy and Resources’ March 2022 edition of the Resources and Energy Quarterly (REQ), is up a stunning 12 per cent on the December 2021 REQ projection of $379 billion. “The March 2022 REQ has found that soaring demand and high prices for Australia’s gas, coal and oil are a key contributor to our record export earnings. In short our resources sector is knocking it out of the park and underpinning our economic growth, our energy security and our national security,” Minister Pitt said.

A Complete Guide To Taxation In Special Economic Zones

A Simple Guide To All Of The Tax Incentives That You Can Find In Special Economic Zones Around The World.
By Thibault Serlet

World Free Zones Organization November 2021 newsletter

The World Free Zones Organization (World FZO) is a global not-for-profit organization that provides one authoritative, collective voice representing the interests of free zones around the world. The World FZO was launched in Dubai, UAE, in May 2014, by its 14 founding members and under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai. Registered in Geneva and headquartered in Dubai, the World FZO is the only truly international, multi-lateral organization for zones in the world today.

Deloitte | Tax Alert Special Economic Zones Authority Act 2019

In this issue, we introduce the Special Economic Zones Authority Act 2019 summarising the key administrative features and notable incentives under the Act.

Solar a costly exercise: Gina

AUSTRALIA’S richest woman, Gina Rinehart, is warning that rushing to reduce greenhouse emissions without proper costings could imperil family farmers and cost taxpayers “billions in subsidies”. The mining and pastoral tycoon has outlined her particular concern that family farmers who have endured years of drought, bushfires and Covid-19 do not have spare cash, so cannot afford to invest to change to renewable energy. Mrs Rinehart said costings should be the first priority and urged the Federal Government to “stand firm” until these had been properly assessed and made public.

Vale and Asian miner seek Brazil nod to fast-track mine project

Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.

Expanding Your Business into Asia: Why Location Analysis is Key

This is another example of how Special Economic Zones in China are being ( and have been since 1978!) presented as locations for FDI. Australia is becoming less and less competitive. These policies can be simply introduced in Northern Australia and across Australia.

Category: Taxation