A new law has modified the incentives available for investments in research, development, and the generation and use of energy from nonconventional energy sources and/or the management of energy efficiency, including VAT and tariff exemptions.
The Indian and UK prime ministers have agreed an enhanced trade partnership and announced an intention to negotiate a comprehensive free trade agreement. The UK Government has launched a public consultation on the UK’s trading arrangements with India.
The Court of Justice of the European Union issued a decision specifying the conditions under which VAT exemption for the management of special investment funds applies in outsourcing cases. The court’s ruling is in line with previous case law.
Following the implementation of VAT in Oman on 16 April 2021, there have been a number of developments relating to VAT return filing and pre-registration input tax claims, simplified tax invoices, and expected additional guidance for certain industries and sectors.