(MENAFN - Saudi Press Agency)
Jeddah, February 15, 2021, SPA King Abdullah Economic City (KAEC) has signed a memorandum of cooperation with a national company in order to provide further support for both logistics sector in the Kingdom and King Abdullah Economic City. The memorandum focuses on enhancing logistics services and contributes to creating promising logistic and economic opportunities in conjunction with Saudi Arabia s ambitious 2030 vision to transform the Kingdom into a global logistic hub. Commenting on the event, the Company s CEO emphasized the importance of this strategic partnership and its role to enhance the cargo ground handling services from and to KAEC. He also mentioned that selecting KAEC was a perfect choice due to its unrivaled logistic position in the region and prominent strategic economic and investment location.
It is important to create special economic and legal conditions for investment to ensure the economic development of Donetsk and Luhansk regions and the reintegration of the temporarily occupied territories of Ukraine.
EU Sizes Up Impact Of New UK Free Trade Deal
EU Sizes Up Impact Of New UK Free Trade Deal
by Jason Gorringe, Tax-News.com, London
15 February 2021
The European Union has released its Winter 2021 Economic Forecast, which says that Brexit will dent UK economic growth considerably, and more than for the European Union, despite the new free trade deal between the two parties.
The free trade deal between the UK and the EU provides for zero tariffs and zero quotas on all goods trade that complies with the appropriate rules of origin. However, the report highlights that non-tariff barriers have increased substantially for both imports and exports from and to the UK.
Irish VAT Rate Cut To Be Reversed In March
Irish VAT Rate Cut To Be Reversed In March
by Jason Gorringe, Tax-News.com, London
15 February 2021
The Irish headline rate of VAT will return to 23 percent from March, having been temporarily reduced in response to the COVID-19 pandemic.
Finance Minister Paschal Donohoe told parliament s Budgetary Oversight Committee that it is his intention that the rate will go back up to its original rate at the end of the planned period.
As part of the Government s July Stimulus Package, the standard rate of VAT was reduced from 23 percent to 21 percent on September 1, 2020. The rate reduction was due to remain in force until February 28, 2021.