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Meta faces around $1B tax demand from Italy

December 10th, 2024 - 06:55 GMT

Reema Tuqan

Meta faces around $1B tax demand from Italy

ALBAWABA – Meta, the American multinational technology company that owns and operates Facebook, Instagram, Threads, and WhatsApp, is facing a $938 million value-added tax (VAT) on estimated revenues generated in Italy between 2015 and 2021. Meta to pay $938M VAT A Milan prosecutor stated yesterday that Meta owes more than $938 million (887 million euros) value-added tax (VAT) on estimated revenues generated in Italy between 2015 and 2021. According to ...

Lebanon’s GDP is estimated at $60 billion, and the tax rate on profits is at least 10 percent among individuals, institutions and companies

September 16th, 2019 - 06:00 GMT

Lebanon Pushed by French Pressure to End Tax Evasio

The introduction of value added tax (VAT) in the Kingdom at the start of 2018 lifted the annual inflation rate to 2.5 percent from minus 0.9 percent the previous year

August 29th, 2019 - 09:34 GMT

Savings' Tax: Potential Measure to Spur Growth in Saudi Arabia

Due care should be taken by the taxpayers to ensure the legal contracts, and related documentation is adequately kept supporting the VAT treatment.

August 26th, 2019 - 07:16 GMT

All You Need to Know About 'Recovery of Cost' Under VAT

The Ritual of Karma Travel

August 21st, 2019 - 11:31 GMT

Start Your September Off With Good Karma With the ‘Wellness Series’ at the Ritz-Carlton, Dubai

A tax of 100 percent will be also levied on electronic smoking devices.

August 21st, 2019 - 07:04 GMT

UAE to Introduce Tax on Sugary Drinks, E-Smoking Devices Next Year

Oman to Implement VAT

August 3rd, 2019 - 09:00 GMT

Oman to Start Implementing VAT

With increased Expo 2020 spending, VAT revenues would easily be Dh35 billion-plus this year.

July 30th, 2019 - 06:30 GMT

UAE VAT Revenues to Soar 30 Percent in 2019

Eligible applicants can recover an unlimited amount of taxes incurred if the said amount is transferred to their card.

July 8th, 2019 - 06:13 GMT

UAE Sets Daily Cash Limit per Tourist for VAT Refunds at $1,905

The UAE levied 5 per cent VAT on selected goods and services from January 1, 2018, in order to boost revenues and diversify economy away from hydrocarbon dependence.

July 1st, 2019 - 06:14 GMT

Dubai Receives 42 Percent of UAE's Total VAT Revenue

The federal government will retain Dh8.1 billion (30 per cent of collected revenues) while the remaining Dh18.9 billion will be divided among the emirates.

June 26th, 2019 - 08:34 GMT

UAE’s VAT Revenue Exceeds Estimates, Hits $7.4 Billion

The biggest risk for VAT comes on the operational side

June 18th, 2019 - 06:00 GMT

Will the GCC Increase the VAT Rate?

The total VAT collection was also close to the UAE's nine-month of surplus, which stood at Dh28 billion during the January-September 2018 period.

June 4th, 2019 - 08:17 GMT

125 Percent Increase in UAE’s VAT Collections in 2018