Download Accounting, Finance, and Taxation in the Gulf Countries by W. Abdallah PDF

By W. Abdallah

This publication makes a speciality of how multinational businesses can plan and deal with their overseas enterprise within the Gulf international locations. very important problems with accounting, auditing, finance, taxation, advertising and marketing, and managerial concerns are lined in all of the chosen Gulf countries.

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Accounting, Finance, and Taxation in the Gulf Countries

This booklet specializes in how multinational businesses can plan and deal with their overseas company within the Gulf international locations. vital problems with accounting, auditing, finance, taxation, advertising and marketing, and managerial matters are lined in all the chosen Gulf international locations.

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Government; and 6. Providing briefings and presentations to all business groups, government officials, educational organizations, and all others in both the Gulf countries and the United States. Financial Stock Markets in the Gulf Countries Accounting is a technology that is practiced within different political, legal, economic, and social conditions. These have always been international as well as national, but since at least the last quarter of the twentieth century, the globalization of accounting standards and practices has become so important that national accounting and financial reporting standards can no longer be sustained.

Regional trends in establishing taxation policies, governments have to balance between the need for non-oil revenues and the encouragement of new foreign investment. Several Gulf countries have recently reformed their tax systems and the common theme is a reduction in the maximum corporate tax rate to levels common in industrial countries. However, Saudi Arabia reduced the maximum corporate tax rate from 47 to 20 percent. In the developed countries, the ability to successfully impose and collect taxes includes a great deal of institutional sophistication.

In 1995, several important factors adversely affected the availability of energy supplies from the Gulf region. Consequently, the competition among neighboring countries over anticipated energy resources had heightened tensions in this volatile region. Likewise, the growing concentration of world oil production among Gulf countries, who are also members of the Organization of Petroleum Exporting Countries (OPEC), increases the political dimension that could affect world oil supplies. Ongoing rifts between OPEC members over oil production quotas, market share, and pricing strategies will further erode prospects for greater unity among the membership.

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