Taxation of individuals
Article Abstract:
The Yemen Republic's new tax laws went into effect Apr 12, 1991. All wage earners in Yemen are subject to income tax, which is deducted by the employer and forwarded to the Tax Authority. All forms of salaries and employment remunerations are taxable except for those earned by diplomats, Yemeni agriculture workers and income exempted due to the risk of double taxation. Noncommercial and nonindustrial professional fees are taxable but some operating expenses can be deducted. Yemen has a real estate tax, as well.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1993
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Company law in Yemen
Article Abstract:
All companies based in Yemen are subject to the newly united country's Republic of Yemen Decision 34 of 1991 concerning the Law of Commercial Companies. Provisions for the registration and articles of association of companies are presented, as are rules for the formation, capital requirements, shares, debt, financial reporting and other aspects of companies. These rules are presented for joint stock companies, limited liability companies, general partnerships and other forms of business.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1992
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Taxation of companies
Article Abstract:
Yemen's most recent Income Tax Law became effective on Apr 12, 1991, but is unclear in certain of its provisions. The law requires payment of income tax by legal entities resident in Yemen, regardless of where the income originated. The law is unclear on whether or not it extends relief from double taxation. Issues relating to administration, rates, payment, fines, tax computation, deductions, depreciation and exemptions are presented
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1992
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