February 28 will see the Narendra Modi government deliver its first full Budget, for 2015-16. Finance Minister Arun Jaitley’s speech has been shrouded in speculation, but taxpayers should expect incentives related to manufacturing and the ‘Make in India’ campaign, while the general anti-avoidance rules (GAAR) will likely be deferred.
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Like medicine, tax is an evolving science. Norah Al Khalaf explains how tax policies have changed across the member states of the Gulf Cooperation Council and what tax departments should prepare for next.