June 2014 Issue 21

Intuit Management Consultancy

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UAE economy set for a sustainable boom

According to the Institute of International Finance (IIF) solid fundamentals and non-oil sectors drive GDP growth. The UAE economy grew 4.7% in 2013, supported by higher oil production. This growth trend is forecast to continue into 2014 supported by strong non-hydrocarbon growth. Read More

DIFC sets up Dispute Settlement Authority

Amendments to the laws governing the Dubai International Financial Centre (DIFC), a free zone in Dubai recently announced by Mohammed bin Rashid Al Maktoum, the Vice President of the United Arab Emirates and ruler of Dubai. Read More

OECD Issues Latest Tax Transparency

OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has issued 12 new reports which assess jurisdictions’ legal and regulatory framework for information exchange and transparency. Read More

IRS Issues Its First FATCA Financial Institutions List Internal Revenue Service (IRS) published over 77,000 banks and other foreign financial institutions (FFIs) which already registered with the United States and received a global intermediary identification number (GIIN), to comply with the Foreign Account Tax Compliance Act (FATCA). Read More

World Bank projects India growth at 5.5% in FY15

For Global Economic Outlook the World Bank has Lowered Projections and urged developing countries to double down on domestic reforms Read More

India poised to return to high growth path: OECD

In two previous financial years India has grown below 5% mainly because of the global slowdown coupled with domestic economic sluggishness. Reserve Bank of India expects the economy to pick up and grow at over 5.5 per cent by March 2015. Read More

Treaty Updates

Please find here the treaty updates for the month of January 2014. Read More

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