Abu Dhabi Investment Authority

How a fake number landed UAE fund in tax soup

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How a fake number landed UAE fund in tax soup

MUMBAI: What’s in a number? Well, a fictitious mobile number ‘9999999999’ that was entered by Abu Dhabi Investment Authority to enable it to upload its income tax return on the portal, led to I-T authorities doubting the veracity of this entity. Consequently, the commissioner (appeals) upheld tax at 20% on interest income of about Rs … Read more

Mideast wealth funds draw greater U.S. scrutiny over China ties

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Mideast wealth funds draw greater U.S. scrutiny over China ties

Middle Eastern wealth funds are facing greater scrutiny on U.S. deals from the administration of President Joe Biden, part of a broader pushback on entities perceived to have close ties with Beijing, according to people with direct knowledge of the matter. The Committee on Foreign Investment in the United States is reviewing several multibillion dollar … Read more