The Association of Southeast Asian Nations (ASEAN) is home to 8 of 18 developing economies that averaged at least 3.5% annual per capita GDP growth over 50 years or 5% annual growth over 20 years.
The value added tax (VAT) on goods is a new concept here in the UAE. Although the introduction of VAT has caused a shift in the accounting process, the UAE has tried to ensure a smooth transition into the new system and is still working to perfect it.
The Prime Ministers Nguyen Xuan Phuc of Vietnam and Giuseppe Conte of Italy co-chaired the third High-Level Dialogue on Italy-ASEAN Economic Relations in Hanoi on last week during a visit to the country.
This event assembled over representatives of 300 enterprises from Italy and the Association of Southeast Asian Nations (ASEAN) and more than 150 Vietnamese businesses. The objective was to call for a win-win cooperation between the Italian, ASEAN and Vietnamese businesses. The Italian Prime Minister expressed his hope that Italian businesses will choose Vietnam when looking east thanks to its own potential and advantages.
What is Globalization?
The process by which businesses or other organizations develop international influence or start operating on an international scale.
Investopedia defines globalization as the spread of products, technology, information, and jobs across national borders and cultures. In economic terms, it describes an interdependence of nations around the globe fostered through free trade.
We are proud to share our latest achievement. Kelmer Middle East LLC has been awarded Best International Boutique Business Consulting Firm 2019. We have been in the country for 11 years and we proudly support entrepreneurs that want to set up their business in the United Arab Emirates. We assist them with their international ventures, bureaucratic, administrative and fiscal issues, from start-up to the day-to-day operations.
Click on the link to read the article on MEA Markets 2019 - UAE Business Awards https://www.mea-markets.com/issues/uae-business-awards-2019/
Organizations in the United Kingdom are being notified of regulations that will come into effect in the event of a ‘No Deal Brexit’. Companies House sent out notifications to all European Economic Area (EEA) companies registered informing them of additional details they would need to submit to the Registrar in the event of a No Deal Brexit.
It sometimes proves difficult to predict how well an industry sector will do during the year due to the many uncertainties. The Philippines Business Inquirer has in fact reviewed the market trends for 2019 and has come up with 4 sectors that are most likely to have a profitable run this year.
On 31 August 2018, the Standing Committee of the National People’s Congress issued the New Individual Income Tax law which has just come into effect with full implementation from the 1st of January 2019. Some changes were effective from the 1st of October like the new IIT brackets rate and the new quick deduction of 5,000 RMB to be deducted to calculate the taxable salary but just at the end of the year the National Tax Bureau disclosed all the details of the new law, such as the new “five-year rule”.
This article will provide you an insight on the new landscape of the New Chinese Individual Income Tax law (IIT).
Following the recent rejection of Theresa May’s Brexit ‘Withdrawal Agreement‘ twice in the last month, the country has taken measures to once again amend the plan and reconvene towards the end of February for a further opportunity to vote. But what happens in the event of the deal failing?
The country seems to be preparing in case no agreement is settled before 29 March 2019. They are looking at four possible outcomes in the event of the country not being able to come to a meaningful vote.
Singapore's Prime Minister, Lee Hsien Loong was very optimistic in his New Year’s message, about the future of the country’s economy, as numbers show that it rose by 3.3%. You would think this isn’t a significant rise but as per forecasts this this growth surpassed expectations.
He said the economy is expected to grow by between 1.5 per cent and 3.5 per cent this year, but warned that the global economy faces major uncertainties with growing trade conflicts, nervous financial markets and signs of slowing growth.
The United Arab Emirates is expected to achieve a growth of 3.1% in its GDP. Economists have predicted an accelerated development for 2019, as non-oil revenue expands. This is a result of government measures introduced in 2018.
The UAE’s economy, the Arab world's second largest, grew 0.8% in 2017, this growth was attributed mainly to oil output and price declines. Overall growth is projected at 2.3% for 2018 and 2.9% in 2019.