OECD: Revenue Statistics in Africa 2017
According to new data from Revenue Statistics in Africa 2017 released on 12 October 2017 the mobilisation of domestic resources is improving steadily in African countries. This annual report is produced jointly by the African Tax Administration
See MoreCanada: Government intends to reduce small business tax rate
The Government is working to build a fairer and more efficient tax system that benefits all Canadians. As one of its first actions, the Government raised taxes on the wealthiest one per cent in order to cut taxes for the middle class. The Government
See MoreUAE: DTA signs with Maldives
The Maldives and United Arab Emirates (UAE) have a long history of bilateral ties, based on friendship, common understanding and mutual benefits for the progress and prosperity of both countries and peoples. An Agreement was signed on October 17,
See MoreUAE: Free Zones not VAT free automatically
United Arab Emirates (UAE) Free Zones have been confirmed as not profiting from automatic VAT free status on the introduction of the new indirect tax from January 1, 2018. There are more than 40 Free Zones in the UAE. It generally locates at ports,
See MorePoland: A new version of a draft bill to amend corporate income tax law
Recently, a new version of a draft bill to amend Poland’s corporate income tax law (and also to amend the individual income tax law) was submitted to the parliament. The amendment will most likely come into effect on 1 January 2018. Main changes
See MoreTurkey: Commission accepts a proposal of corporate tax hike
A parliamentary commission accepted a proposal on October 13, 2017 to extend a planned corporate tax rise from 20% to 22% for all companies instead of just financial institutions. The increased corporation tax will set for the years 2018 to
See MoreMorocco ratifies amended DTA protocol with Bahrain
On 30 August 2017, Morocco has ratified the amending protocol of Double Taxation Agreement (DTA) with Bahrain and that was signed on 22 April
See MoreMorocco ratifies DTA with Ethiopia
On 30 August 2017, Morocco has ratified the Double Taxation Agreement (DTA) with Ethiopia and that was signed on 19 November
See MoreMorocco ratifies DTA with Ghana
On 30 August 2017, Morocco has ratified the Double Taxation Agreement (DTA) with Ghana and that was signed on 17 February
See MoreMorocco ratifies DTA with Madagascar
On 30 August 2017, Morocco has ratified the Double Taxation Agreement (DTA) with Madagascar and that was signed on 18 November
See MoreMorocco ratifies DTA with Rwanda
Morocco has ratified the Double Taxation Agreement (DTA) on August 30, 2017, with Rwanda and that was signed on 19 October
See MoreMorocco ratifies DTA with South Sudan
On August 30, 2017, Morocco has ratified the Double Taxation Agreement (DTA) with South Sudan and that was signed on 1 February
See MoreHungary: Country-by- country reporting form released
The Hungarian tax authority has published on its website a form (Form 16CBC) that can be used by taxpayers to comply with the reporting requirements for country-by- country (CbC) from 31 May 2017. Under a general rule, the ultimate parent company is
See MoreSingapore: Income Tax (Amendment) Bill 2017 approved
The Income Tax (Amendment) Bill 2017 was approved by the Singaporean lawmakers on 2 October 2017.The amendments to the Income Tax Act comprise of tax changes announced in the 2017 Budget. According to the approved Bill existing corporate income tax
See MoreSaudi Arabia: Royal Decree on amendment to the Income tax law issued
The government of Saudi Arabia issued Royal Decree No. M/131 on 20 September 2017 modifying certain articles of the Income Tax Law (ITL). The most important amendments brought by the Royal Decree are as follows: -Shares in domestic corporations held
See MoreUAE: Penalties for noncompliance with VAT Law
The Council of Ministers adopted new fines and penalty fees for non-compliance with Value Added Tax (VAT) Law on October 2, 2017. These fines are imposed on businesses that don’t follow the new rules. Penalties for failing to follow to tax laws
See MoreMorocco: DTA signs with Zambia
On October 11, 2017, the Double Taxation Agreement (DTA) between Morocco and Zambia was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in
See MoreCanada: CRA delays implementation of advantage rules
The Canada Revenue Agency (CRA) announced that the proposed implementation date for applying the advantage tax rules to investment management fees will be delayed until January 1, 2019. The rule could tax investment management fees paid outside of
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