Practice / Industry Group: Aviation
With the continued increase of Air passenger traffic, new developments in the Aviation Industry occur quite often.
In the Philippines, there have been notable recent developments in the Aviation and Transportation sectors.
Some of the key issues to consider in the Philippines Jurisdiction are:
-Governing Bodies and International Aviation Agreements
-Financial Thresholds and Insurance Coverage on Air Carrier Operations
-Consumer protection and Liability
-Regulation of Aircrafts and Airports
By giving due consideration and gaining insight to the issues listed above, a comprehensive understanding of the recent developments in the aviation industry can be reached, not just in the Philippines, but perhaps in other jurisdictions as well.
To read a full detailed analysis on these key issues please click here: http://www.worldservicesgroup.com/publications.asp?action=article&artid=9052
Please allow me to refer you to the article below, providing an update on the UAE VAT Executive Regulation. This is a big development for the UAE. The UAE has no corporate or personal income tax (except for taxes on foreign banks and oil companies) and, as a result, there were generally no financial reporting requirements.
The introduction of VAT has necessitated the formation of a Federal Tax Authority and filing of financial information for the first time for most businesses.
To Read The Full Analysis on the UAE VAT Executive Regulation Click Here: http://www.worldservicesgroup.com/publications.asp?action=article&artid=8911