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India pledges 1.25 million USD to UN relief agency for Palestinian Refugees, due to their vulnerable condition and ongoing conflicts in Middle East

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A Palestinian refugee. Wikimedia.

New Delhi, Dec 7, 2016: As India stated its concern for the Palestinian refugees today, it pledged 1.25 million USD to the UN relief agency for the Palestinian refugees for the vulnerable condition and the ongoing conflicts in the Middle East which is resulting in the rise in refugees.

According to PTI, a total of 20 contributors aired their donations or their intentions to do the same to the 2017 budget of the United Nations Relief and Works Agency for the Palestine Refugees in the Near East. India pledged an annual contribution of 1.25 million to the agency.

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Mahesh Kumar, the First Secretary in India’s Permanent Mission to the UN said that regrettably a harmonious solution to the Palestine issue has not been figured out yet and in turn, the expectations of the refugees to live a normal life is not achieved.

He also said that “The current fragile situation and the ongoing conflicts in the Middle East region have compounded the problem of refugees,” mentioned PTI.

Kumar also stated that while providing the much-needed assistance to Palestinian refugees, the UNRWA is facing unpredicted financial and operational challenges.

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The UNRWA has been supplying health, education, relief and social services and emergency assistance to around 5.3 million Palestinian refugees across its five areas of operations, Jordan, Lebanon, Syria, the West Bank and the Gaza strip for the past 65 years.

In September, UNRWA reported a void in the funding of USD 74 million, which is jeopardising its ability to finance vital operations at the end of 2016 and after an emergency cry, the UN member nations contributed which reduced the funding gap to USD 37 million.

-prepared by Shivam Thaker of NewsGram. Twitter: @Shivam_Thaker

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The Advantages of The Taxation Regimes in The Middle East

So, if you want to operate in the Middle East, setting up a business in Qatar can prove to be quite advantageous

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Taxation, Regimes, Middle East
Most Middle Eastern countries offer a low-tax regime, while others, such as Qatar, impose no corporate or personal income taxes. Pixabay

The Middle East, which until recently was sought mostly by investors in the oil and gas field, has become a very attractive destination for entrepreneurs seeking to operate in other industries as well and one of the most appealing aspects of starting a business here is the taxation system.

Most Middle Eastern countries offer a low-tax regime, while others, such as Qatar, impose no corporate or personal income taxes. So, if you want to operate in the Middle East, setting up a business in Qatar can prove to be quite advantageous.

Below, you can read about other advantages offered by Middle Eastern countries in terms of taxation.

Middle Eastern countries allow for free repatriation of profits

Taxation, Regimes, Middle East
The Middle East, which until recently was sought mostly by investors in the oil and gas field, has become a very attractive destination for entrepreneurs. Pixabay

Most countries in the Middle East provide for the free repatriation of profits earned by companies operating here. This is also the case of the UAE in which foreign investors can set up various types of companies. For example, starting a business in Dubai can mean free repatriation of profits if the owners are foreigners.

Most countries do not impose employment-related taxes

One of the struggles of business owners is to pay various employment-related taxes, contributions and insurances. This is not the case of many countries in the Middle East where there are no such taxes or where employment is taxed at very low rates. When combined with a cheaper workforce compared to European countries, states here will definitely become more attractive to investors from all over the world.

Wide networks of double tax treaties

Also Read- The Main Benefits of Opening a Company in A Foreign Country

Even if they impose a few or no taxes, many Middle Eastern states have signed double taxation agreements in order to help foreign business owners reduce the tax burden in their home countries. Also, when considering that these agreements follow the Organization for Economic Co-operation and Development models on the disclosure of financial information, these countries become more appealing for those interested in onshore destinations with low corporate taxes.

Low VAT taxes

One of the recently introduced taxes by countries in the Gulf Cooperation Council is the value added tax. However, this tax is imposed at very low rates and many investors with companies here have obtained the support of governments in implementing the new regulations which provides for how quickly Middle Eastern countries can adapt to changes.

The Middle East is one of the most appealing parts of the world when it comes to taxation, however, it offers many other benefits apart from this aspect. The cheap workforce, the modern legislation and economic stability are also some of the reasons why foreign investors choose countries here for setting up businesses.