Expat News

FTZ Firms Not Automatically Exempted From Corporate Tax

A lot of businesses in the free trade zone 'believe' that since they are based in an FTZ in the UAE, they would automatically be exempted from tax, but this is not 100% true, observed Mahar Afzal, chief executive officer at Kress Cooper, as he spoke at a conference titled Corporate Tax UAE Decoded, which was hosted by Khaleej Times. "They are in a free zone, so they are out of the corporate profit tax, which is one of the biggest misconceptions," he said. The status of the businesses and the activity they are performing will be looked into prior to the government taking a decision whether a zero per cent corporate tax will be applicable.

Indian-Americans Pay 5-6% of Income Taxes In US

Indians may be a small part of the US population, but have a significant economic impact. As per a recently released report, Indian-Americans pay 5-6% of all income taxes in the US despite comprising a mere 1.5% of the country’s population. The 5.1 million strong Indian Diaspora pays $250-300 billion in income taxes and has significantly enhanced its economic competitiveness over the years. About 70% of Indian-Americans are US citizens. Indians have co-founded 72 out of 648 US unicorns operating as of 2024. These companies employ over 55,000 people and are valued at $195 billion. From leading the largest enterprises and founding new companies to employing millions of people across all the States, the financial influence of the Indian Diaspora shows the determination of individuals who overcame challenges to make meaningful contributions to their new home, the report added.

Vinay Kwatra named India's New Ambassador To US

The Ministry of External Affairs (EAM) has appointed former foreign secretary of India Vinay Mohan Kwatra as the next ambassador of India to the US. The EAM has announced that Vinay Mohan Kwatra will be taking up assignments soon. Kwatra’s larger task ahead will be to assess the upcoming US Presidential elections in November and engage with the new administration. He will also be expected to prepare for a possible visit by the US. His challenge will be to smooth over recent differences between the two countries over the Pannun case, and Prime Minister Narendra Modi’s meeting with Russian President Vladimir Putin in Moscow, as well as recent US pronouncements on the human rights situation in India.

Gulf Nations Concerned Over Behaviour of Pak Labourers 

Several Gulf nations, including the UAE, Saudi Arabia, Qatar and Kuwait, have raised grave concerns over the conduct of some Pakistani expatriates and the labour force. The matter was raised by Secretary Overseas Pakistanis Dr Arshad Mahmood at a Senate Standing Committee meeting in Islamabad on Overseas Pakistanis. In the UAE, Pakistanis are  reportedly involved in 50% of crimes, as per the Gulf Cooperation Council (GCC) countries.

A rather concerning issue has been raised by these countries pointing at the inappropriate behaviour of some Pakistanis in the UAE, including them making videos in front of women in Dubai. Kuwait has raised an issue concerning Pakistani nurses, who are reportedly refusing to perform certain job-related duties, and instead putting the onus on ward boys for regular day-to-day activities. Besides, the majority of them leave for greener pastures after working for a short period. Meanwhile, Qatar, as per the officials of the Ministry of Overseas Pakistanis, complained about Pakistani labourers refusing to wear safety helmets during work.