Wishing all alumni, clients and staff a smooth year end 2015

Tax Guide 2014-15

The KPMG MENASA Tax Guide - from Morocco to Bangladesh the region is open for business
http://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Pages/2014-2015-menasa-tax-guide.aspx

Auditing Whats Involved?

NEWS
Fighting erupted in South Sudan's capital, Juba, in mid-December 2014 triggering clashes throughout much of the country. Several ceasefire agreements and ongoing negotiations have failed to bring an end to the conflict. Disagreements over many aspects of the July 2011 division of Sudan and South Sudan, notably border delineation, look set to continue, but the two countries will try to maintain general co-operation.  Sudan's real GDP is expected to grow by an average of 3.7% in 2015-19 (Source EIU).

Really JCB digger beats the 70mph barrier

Big Race Weekend

Watch Lewis Hamilton overtake Nico Rosberg at the start of the Abu Dhabi Grand Prix: http://t.co/YtWo4IAE8N pic.twitter.com/6WQIklAVlC
— BBC Sport (@BBCSport) November 23, 2014

Race Report: Lewis Hamilton wins the 2014 Drivers' Championship after victory in #AbuDhabiGP http://t.co/KO1QFDsby1 pic.twitter.com/qmr9GEv5CA

— IndySport (@IndySport) November 23, 2014

Lewis Hamilton wins the #AbuDhabiGP and the 2014 Drivers' Championship http://t.co/1dUpfw34VL pic.twitter.com/3P7NIXQCk3

— IndySport (@IndySport) November 23, 2014

Saudi Arabia - new Zakat regulations

Saudi Arabia – Shura Council approves new Zakat regulations In June 2014, the Saudi Shura Council approved draft regulations on the calculation and collection of Zakat on commercial and professional activities. Among other changes, the regulation imposes Zakat on immovable properties and real estate held for trading or leasing purposes, including vacant or developed land, regardless of whether such properties are owned by individuals or legal entities. This change aims to encourage traders holding properties for trading (i.e. speculation) to sell these properties, as they will have to pay the Zakat even if no sale occurs. The supply of land would then increase and the prices would be reduced. Other elements of Zakat base include, among other things: cash and bank deposits gold and silver stock of goods and raw materials investment in financial securities kept for trading receivables from others, if they resulted from cash lending or trading non-trading investments in sukuks (Islamic bonds) and debt securities. Fixed assets are not included in Zakat base. Zakat applies at the rate of 2.5 percent, and its taxable period is the Hijri (lunar) year. For Zakat payers wishing to adopt the Gregorian year, the rate is 2.577 percent. The Regulations are pending the approval of the Council of Ministers.

Middle East - Asia investment. China a key player

China to double Iranian investment http://t.co/jxs1eHfQRj

— BBC News (World) (@BBCWorld) November 16, 2014