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Arbitration trends in the Middle East: What to expect in 2024 and beyond
The last several years have seen rapid growth in the Middle East.
The 2017 budget speech is an object lesson in balancing competing priorities: the need for increased revenue collection set against a number of sensitive political considerations, made more acute by the looming national election in 2019 and the watching brief by the rating agencies.
There has been a significant under-collection of tax in the 2017 financial year, and the resultant tax rate adjustments are to personal income tax (up a staggering 4% at the top end of the spectrum) and dividends tax (increased from 15% to 20%).
While a number of commentators are sceptical as to whether or not these increases will “fill the hole”, they certainly are more palatable to the electorate at large than an increase in Value-Added Tax.
On the positive side, no ambitious spending projects were hastily adopted which should help alleviate the deficit. The Minister stuck to his guns and continued on the course which has marked his tenure in office: presenting conservative but sensible budgets, many of which have been crafted amidst one or other calamity or controversy.
The main budget proposals for the 2017-18 fiscal year include are following –
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The last several years have seen rapid growth in the Middle East.
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On May 14, 2024, Lena Haffner, Innovation Lead Germany at Norton Rose Fulbright, shared her insights on “How do you make a law firm AI ready?" at Legal Revolution 2024, one of Europe’s leading conferences in legal innovation and technology. Her lecture focused on developing a comprehensive roadmap for integrating AI into law firms, emphasizing the importance of developing a robust AI strategy and fostering an innovation-ready culture. Key topics covered in the lecture included strategic planning, skills development, multidisciplinary teamwork, and strong AI governance.
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