Latest news with #TaxCompliance
Zawya
29-07-2025
- Business
- Zawya
Comarch wins 'Most Customizable E-Invoicing Solution 2025' at Taxcom Middle East Summit & Awards
Comarch, a global leader in IT solutions, received the 'Most Customizable E-Invoicing Solution 2025' award at the second edition of the Taxcom Middle East Summit & Awards in Dubai. This honor recognizes Comarch's proven capability to deliver tailored e-invoicing solutions across sectors, regulatory environments, and enterprise systems. Comarch is recognized for its adaptable innovation in compliance technology. As e-invoicing reshapes the financial and tax operations of companies worldwide, Comarch has distinguished itself by designing systems that align with each client's unique business logic and evolving legal frameworks. "We work with organizations in logistics, retail, manufacturing, and beyond, and every sector has its own compliance challenges," said Jakub Frankiewicz, Consulting Director at Comarch. "Legal compliance is just the starting point. Real value comes when e-invoicing is configured to fit the way the business actually works—its workflows, ERP, and pace.' Comarch's customizable architecture enables companies to adapt to local regulations, such as the UAE's e-invoicing mandate and Saudi Arabia's ZATCA requirements, while maintaining operational continuity and control. About the Taxcom Middle East Summit: With the theme of "Innovation in Tax Compliance and Transformation," the 2025 Taxcom Middle East Summit brought together tax authorities, finance leaders, and global technology providers to discuss strategies for navigating complex regulatory landscapes. Topics addressed included e-invoicing modernization, real-time reporting frameworks, and automation in tax governance. As governments across the Middle East accelerate digital tax reforms, including nationwide e-invoicing and real-time reporting initiatives, the event emphasized the importance of scalable and secure platforms that support compliance, data transparency, and rapid adaptation to evolving regulatory standards. "We're honored to receive this recognition at Taxcom," Fedaa Khwis, Sales Director at Comarch added. "It validates our long-standing belief that innovation in e-invoicing technology must be both strategic and adaptive. We remain committed to helping companies not just comply, but also thrive in today's digital invoicing era.' About Comarch: Comarch was founded in 1993 in Kraków, Poland. It's one of the biggest IT companies in Europe and carries out projects for the leading Polish and global brands in the most important sectors of the economy, including telecommunications, finance, banking, and insurance, trade and services, infrastructure, public administration, industry, healthcare, and in the sector of small and medium-sized enterprises. Tens of thousands of well-known brands in over 100 countries on 6 continents have used Comarch services, among others: Agfa-Gevaert, Allianz, Auchan, Belmond Group, BIC, BNP Paribas Fortis, BP, Carrefour, Heathrow Airport, Heineken, ING and LG U+, MAN Truck & Bus, Orange, Strabag, Telefónica, T-Mobile, Vodafone. Comarch ranks high in the league tables prepared by IT analysts, including Gartner, Truffle 100, TOP 200 "Computerworld", IDC, the Polish Academy of Sciences, EU Industrial R&D Investment Scoreboard. Every year, Comarch invests 15% of its revenues in innovative products. In 2024 the expenditures on R&D amounted to EUR 95 million. Presently, the Company employs 6 500 experts in 79 offices in 32 countries, from Australia and Japan to the Middle East, Europe, and both Americas.
Yahoo
22-07-2025
- Business
- Yahoo
Avalara Announces Confidential Submission of Draft Registration Statement
DURHAM, N.C., July 21, 2025 /PRNewswire/ -- Avalara, Inc. today announced that its parent company has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") relating to the proposed public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed public offering remains subject to the completion of the SEC review process, as well as market and other conditions. This press release is being issued pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended ("Securities Act"), and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act. About Avalara Avalara automates tax and compliance. The Avalara AI Tax & Compliance Platform powers tax calculation, documentation management, and regulatory filings within a single system to deliver a portfolio of solutions. View original content to download multimedia: SOURCE Avalara, Inc. Sign in to access your portfolio
Gulf Business
18-07-2025
- Business
- Gulf Business
UAE issues new decision on depreciation rules for investment properties under corporate tax law
Image: WAM The UAE Read- It specifies the conditions under which depreciation will be calculated and the method for making tax adjustments, in line with the Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses. Investment properties: The move is part of ongoing efforts to implement the UAE's corporate tax regime The ministry said the decision aims to ensure consistency in how taxable income is calculated for corporate tax purposes, especially in sectors where investment properties are a significant part of the balance sheet. The move is part of ongoing efforts to implement the UAE's Further guidance is expected to be released to support companies in aligning their tax reporting with the new requirements. Abu Dhabi-based property developer Aldar welcomed the update, with group chief financial and sustainability officer Faisal Falaknaz calling it a 'progressive and well-calibrated step' that promotes fairness, supports long-term capital planning, and boosts investor confidence. It's a technical change, but one that could have a big impact on how real estate firms approach tax compliance and valuation strategies in the UAE. ' Aldar expresses its gratitude for the UAE Ministry of Finance for this progressive and well-calibrated step, which reflects a deep commitment to fairness, clarity, and international best practices in the implementation of the Corporate Tax Law,' Falaknaz said. In recent news the Ministry of Finance and the Federal Tax Authority also amended the excise tax on sugar-sweetened beverages, replacing the flat rate with a tiered volumetric model that ties the tax per litre to the sugar content per 100ml. The higher the sugar content, the higher the tax, an approach aimed at promoting public health, curbing consumption of high-sugar drinks, and pushing manufacturers to reduce sugar levels in their products.
Zawya
03-07-2025
- Business
- Zawya
Federal Tax Authority holds workshop in Abu Dhabi on Corporate Tax for Family Foundations
Abu Dhabi: The Federal Tax Authority (FTA) hosted a workshop in Abu Dhabi to shed light on Corporate Tax rules for Family Foundations and the conditions needed to categorize an entity as a Family Foundation under Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses ('Corporate Tax Law'). This event is part of the FTA's ongoing campaign to raise awareness on Corporate Tax topics across UAE business sectors, ensuring smooth implementation and encouraging voluntary compliance. The workshop attracted a large turnout and was attended by 290 of those concerned with the Family Foundations sector, as well as a number of officials from the concerned authorities in the public and private sectors. During the workshop, the Authority renewed its invitation to taxpayers still unregistered for Corporate Tax to expedite the submission of their Corporate Tax registration applications, to benefit from the initiative to exempt certain categories of Taxable Persons required to register for Corporate Tax with the FTA and waive administrative penalties resulting from the delayed submission of registration applications due within the specified legal period. The FTA added that the exceptional requirement to benefit from the exemption is to file the Tax Return (or annual declaration) within a period not exceeding seven months from the end of the Tax Period. This applies only to the first Tax Period of the Taxpayer (or Exempt Person required to register for Corporate Tax), regardless of whether the due date of the first Tax Return (or first annual declaration) is before or after the implementation of the new decision. The workshop addressed several topics related to the treatment of Family Foundations under the Corporate Tax Law. FTA experts explained to the attendees the definition of a Family Foundation under the Corporate Tax Law and how these enterprises are treated for Corporate Tax purposes. During the current year, the FTA launched a request through the EmaraTax digital tax services platform, allowing eligible Family Foundations to apply to be treated as Unincorporated Partnerships, provided they meet the requirements set out in the Corporate Tax Law, as well as Ministerial Decision No. 261 of 2024 on Unincorporated Partnership, Foreign Partnership and Family Foundation for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. The FTA explained that Family Foundations that want to submit a request to be treated as an Unincorporated Partnership must be previously registered for Corporate Tax, noting that the request to treat the Family Foundation as such may be submitted by the taxpayer or his tax agent or legal representative. Once the request is approved by the FTA, the Family Foundation will not be obligated to file annual Tax Returns for Corporate Tax. In addition, individual beneficiaries of the Family Foundation must determine whether they are obligated to register for Corporate Tax and submit a Tax Return for the relevant Tax Period. The FTA added that for the Family Foundation to apply to be treated as an Unincorporated Partnership, the applicant must verify that they meet the specific conditions as per the Corporate Tax Law and related legislation and decisions, which can be found on the FTA website. The application is submitted by selecting "Corporate Tax" on the EmaraTax digital platform, then selecting the "Corporate Tax – other applications' and requesting for the Family Foundation to be treated as an Unincorporated Partnership and attaching the required documents. The Federal Tax Authority was established by Federal Decree-Law No. (13) of 2016 to help diversify the national economy and increase non-oil revenues in the UAE through the management and collection of federal taxes based on international best practices and standards, as well as to provide all means of support to enable taxpayers to comply with the tax laws and procedures. Since its inception in 2017, the FTA has been committed to cooperate with the competent authorities to establish a comprehensive and balanced system to make the UAE one of the first countries in the world to implement a fully electronic tax system that encourages voluntary compliance, with simple procedures based on the highest standards of transparency and accuracy – beginning from registration, to the submission of tax returns, to the payment of due taxes through the Authority's website:
Zawya
22-06-2025
- Business
- Zawya
Minister of Finance honors Huawei Egypt with the "Tax Compliance" appreciation certificate
Cairo: Huawei Egypt has been honored with the 'Tax‑Compliance' Certificate of Appreciation by the Egyptian Tax Authority, in recognition of the company's outstanding exemplary compliance and proactive support for Egypt's tax system—an achievement that reflects Huawei's sense of national responsibility and active contribution to the Egyptian economy. This honor was presented at the 'Thank you' Conference, organized jointly by the Ministry of Finance and the Egyptian Tax Authority to announce the preliminary results of the first package of tax‑facilitation laws, regulations and directives now being implemented across tax offices and service centers nationwide. The conference highlighted the latest milestones in modernizing Egypt's tax ecosystem. Minister of Finance, Ahmed Kouchouk presented the certificate of appreciation to Mr. Benjamin Hou, CEO of Huawei Egypt, in the presence of senior officials from the Egyptian Tax Authority, senior state officials and executive leaders from the public and private sectors. Mr. Benjamin Hou, CEO of Huawei Egypt, expressed his delight at receiving this recognition, especially as this year holds particular significance for the company, marking 25 years of presence in the Egyptian market. He added: " This recognition underscores our steadfast commitment to supporting Egypt's growth and digital transformation. We are fully dedicated to advancing ICT infrastructure and the empowerment of key industries, we remain focused on contributing to Egypt's sustainable economic growth and advancing Egypt's national development agenda through technology and innovation' With its first-ever edition, the conference seeks to reinforce the partnership the Ministry and the Tax Authority are building with the taxpayer community, celebrate compliant partners, and showcase the achievements of the inaugural facilitation package, which has received unprecedented support from all segments of the tax community. Huawei Egypt is the first Chinese company to receive this honor, reflecting the company's deep commitment to tax responsibility and its ongoing support for the country's economic reform efforts. Huawei has been a key player in Egypt's ICT sector for over 25 years, partnering with both the public and private sectors to support the nation's Vision 2030. By leveraging its five core business groups—Carrier, Enterprise, Digital Power, Cloud, and Consumer, Huawei has played a significant role in advancing Egypt towards a more connected and intelligent society. The company is also committed to its "Localization" strategy, focusing on developing Egypt's ICT infrastructure and investing in cultivate a thriving ICT talent pool to help establish Egypt as a regional hub for ICT expertise and innovation.
