Articles & Insights

Gears icon representing distinct performance obligations in a contract

IFRS — Revenue

How Is a Distinct Performance Obligation Identified Under IFRS 15?

A good or service is distinct if the customer can benefit from it on its own and the promise is separately identifiable within the contract.

2026-09-29

Checklist of the revenue recognition steps under IFRS 15

IFRS — Revenue

What Are the Steps to Recognise Revenue Under IFRS 15?

IFRS 15 sets a sequence: identify the contract and obligations, price and allocate, then recognise revenue on transfer of control.

2026-09-29

Illustration representing reporting a suspicious financial transaction

GCC & Jordan — Anti-Money Laundering

What Is the Duty to Report Suspicious Transactions Under Gulf AML Laws?

Jordanian, Emirati, Qatari and Kuwaiti AML laws require immediate reporting to the financial intelligence unit, regardless of the transaction's value.

2026-09-29

Illustration representing customer due diligence procedures

GCC & Jordan — Anti-Money Laundering

When Must Customer Due Diligence Be Applied Under Gulf Anti-Money Laundering Laws?

Kuwaiti, Omani and Qatari AML laws require due diligence when a relationship begins, transactions exceed a set amount, or suspicion arises.

2026-09-29

Illustration representing the legal definition of money laundering

GCC & Jordan — Anti-Money Laundering

How Do Gulf and Jordanian Anti-Money Laundering Laws Define the Crime?

Jordanian, Saudi and Kuwaiti AML laws criminalise transferring or concealing funds known to be criminal proceeds, regardless of any conviction.

2026-09-29

Illustration representing a treaty network amended by the Multilateral Instrument

GCC — BEPS Multilateral Instrument

What Is the Multilateral Instrument (MLI) Kuwait and Bahrain Joined to Amend Tax Treaties?

The BEPS Multilateral Instrument amends networks of tax treaties in one step without bilateral renegotiation; both Kuwait and Bahrain have joined it.

2026-09-29

Illustration representing the Kuwait-UAE double taxation agreement

GCC — Intra-Gulf Double Taxation Agreements

How Does the Kuwait-UAE Double Taxation Agreement Treat Dividends and Royalties?

The Kuwait-UAE treaty taxes dividends and interest only in the beneficiary's state of residence, but caps source-state tax on royalties at 10%.

2026-09-29

Illustration representing the Jordan-Bahrain double taxation agreement

Jordan & the GCC — Double Taxation Agreements

What Does the Jordan-Bahrain Double Taxation Agreement Provide on Dividends and Interest?

The Jordan-Bahrain tax treaty caps withholding tax on dividends and interest at 10%, with a six-month permanent establishment test.

2026-09-29

Illustration representing the 15% minimum top-up tax rate in the GCC

GCC — Domestic Minimum Top-up Tax

What Is the Domestic Minimum Top-up Tax (DMTT) Adopted by Bahrain, the UAE, Kuwait and Qatar?

Bahrain, the UAE, Kuwait and Qatar each set a 15% Domestic Minimum Top-up Tax with the same EUR 750 million revenue threshold.

2026-09-29

Illustration representing excise goods moving between GCC tax warehouses

GCC — Excise Tax

What Is the 'Tax Suspension Arrangement' Under the GCC Unified Excise Tax Agreement?

The GCC Unified Excise Tax Agreement defers tax on excise goods as long as they remain under a licensed tax warehouse's suspension arrangement.

2026-09-29

Illustration representing cross-border supply between GCC businesses

GCC — Value Added Tax

When Does the Reverse Charge Mechanism Apply to B2B Services Between GCC States?

The GCC Unified VAT Agreement places B2B services at the customer's residence, not the supplier's, requiring the customer to self-account for the tax.

2026-09-29

Illustration representing the GCC VAT registration threshold

GCC — Value Added Tax

What Is the Mandatory VAT Registration Threshold Across the GCC?

The GCC Unified VAT Agreement sets one common mandatory registration threshold of SAR 375.000, or its equivalent in the other member states' currencies.

2026-09-29