UAE: New tax exemption rules issued for companies in free zones
Companies in free zones in the UAE must meet certain criteria to be eligible for zero percent corporate income tax and become a qualifying free zone person (QFZP).
investment
Oaktree takes over Inter Milan after Chinese owner missed payment
Oaktree Capital Management has taken ownership of Italian soccer champions Inter Milan after a missed payment from the club’s Chinese majority shareholder. The loan granted by Oaktree in 2021 gave them the potential right to take control of the club in case of a default. Oaktree is committed to working with Inter Milan’s current management team and partners. Suning, the Chinese shareholder, had to get an emergency financing package from Oaktree due to financial difficulties. Inter Chairman Steven Zhang warned fans about the club’s stability being at risk. Oaktree’s move is similar to Elliott Management’s takeover of AC Milan in 2018 after a missed payment by the Chinese businessman.
Google invests 1 billion euros in Finnish data centre to drive AI growth
Google, owned by Alphabet, will invest 1 billion euros into expanding its data centre campus in Finland to support the growth of its artificial intelligence business in Europe.
Astrobank bucks trend with new branch , — will seek approval for dividend
Astrobank is opening a new branch in the Dali area in Nicosia, which is considered an underserved location with no existing banking facilities. The bank will seek regulatory approval from the Central Bank of Cyprus to distribute dividends and aims to reduce non-performing loans to single digits by July. Astrobank has a capital adequacy ratio of 23.7% and has already met the Minimum Requirements for Own Funds and Eligible Liabilities. The bank is optimistic about the future and is open to acquisitions and evaluating new opportunities in the banking sector.
Globe editorial: The Liberals are ripping up Canada’s trump card for productivity growth
The Trudeau government introduced the Accelerated Investment Initiative in late 2018 to encourage corporate investment by allowing companies to expense the cost of new equipment and systems. However, the policy is set to expire by 2028, leading to an increase in effective tax rates on new investments. The Liberals are focusing on redistributionist efforts and targeted tax credits, rather than extending the sector-neutral accelerated capital-cost allowances program. This approach limits the impact on productivity-enhancing assets and may hinder overall economic growth.
Net Operating Loss Carryforward and Carryback Provisions in Europe
The text discusses net operating loss (NOL) tax provisions in Europe for the year 2024. It mentions that businesses can carry forward their losses for an unlimited number of years in some European countries, while others have time limits. The text also highlights the restrictions on carryback provisions and deductibility limits imposed by certain countries. Additionally, it mentions recent changes in carryover provisions in countries like Belgium, Romania, and Germany.
MTN’s $3.3 billion tax contributions offer Africans optimism
MTN Group made a total tax contribution of .3 billion (R61.7 bn) across its 19 markets last financial year.
Sunshine and strain , – a market divided
– The Cyprus real estate sector is experiencing growth and prosperity, with a booming economy and construction flourishing in coastal hotspots like Limassol.
– Locals are facing financial strain due to rising interest rates, inflated property prices, and loan restructuring, while foreign investors are attracted to Cyprus for its incentives.
– Foreign investment has fueled the coastal boom but creates vulnerability due to reliance on external capital.
– Cyprus has a history of overlooking problems and needs a proactive approach from the government to ensure long-term stability.
– One in four persons living in Cyprus was born overseas, contributing to the economy and cultural landscape.
– Challenges in the housing market include increased competition for jobs, rising prices, and pressure on public services.
– Integration policies and inclusive economic planning are essential to ensure fair distribution of benefits and foster shared prosperity for all residents.
Gold to hit all-time high soon?
Gold is likely to hit a new all-time high within weeks, driven by factors such as anticipated interest rate cuts by the US Federal Reserve, continuous gold purchases by the People’s Bank of China, and growing demand from regions like Turkey and the Middle East.
ask bbf: , – a trusted source of all-inclusive real estate services
BBF is Limassol’s top developer in sales of residential real estate and prioritizes customer satisfaction by providing high-quality services. They have launched ask bbf: to offer end-to-end support and enhance the customer experience. Customers can receive no-cost advice tailored to their specific needs and connect with expert teams for legal, financial, design, rental, and maintenance support.