Posts by Abdur Rouf

Egypt: House of Representatives approve income tax treaty with Oman

October 21, 2024

The Egyptian House of Representatives approved the ratification of the income tax treaty with Oman on 7 October 2024. Both...

Lithuania terminates tax treaty with Russia

October 21, 2024

Lithuania has terminated its tax treaty with Russia on 11 October 2024, published Law No. XIV-2991 in the Official Gazette....

Czech Republic, Sri Lanka income tax treaty enters into force

October 21, 2024

The income tax treaty between the Czech Republic and Sri Lanka entered into force on 16 October 2024. The announcement...

Portugal adopts Pillar 2 global minimum tax for large corporations

October 21, 2024

Portugal has adopted the global minimum tax for large multinational and domestic groups, effective from 18 October 2024. This legislation...

UK enacts Budget Responsibility Act 2024

October 21, 2024

The UK Treasury implemented the Budget Responsibility Act 2024 on 15 October 2024, ensuring that when they announce “fiscally significant”...

Turkey withdraws Draft Omnibus Law on motor vehicle tax

October 18, 2024

On 15 October 2024, the Turkish government withdrew a draft Omnibus Law that had been submitted to the Grand National...

Sweden presents bill to amend Pillar Two rules

October 18, 2024

The Swedish government has presented a final draft legislation to Parliament, released on 15 October 2024, which recommends amendments to...

Kuwait tightens rules on fixed asset disposal

October 18, 2024

The Kuwait Tax Authority (KTA) has announced stricter regulations regarding the disposal and destruction of fixed assets, focusing on compliance...

France to facilitate extensive adoption of electronic invoicing

October 18, 2024

The French government has announced plans to facilitate the extensive adoption of electronic invoicing on 15 October 2024. The initiative...

OECD publishes tax arbitrage through closely held businesses report

October 18, 2024

The Organisation for Economic Co-operation and Development (OECD) issued a report on Tax arbitrage through closely held businesses on 7...

Singapore passes bills for the implementation of global minimum tax on multinational corporations

October 18, 2024

Singapore’s parliament passed two bills on 15 October 2024 –  Multinational Enterprise (Minimum Tax) (Bill No.33/2024) and Income Tax (Amendment)...

European Commission imposes final anti-dumping duty on Chinese aluminium radiators

October 18, 2024

The European Commission released the Commission Implementing Regulation 2024/2661 in the Official Journal of the European Union (OJEU) on 15...

Italy: 2025 budget draft expands DST for all providers, introduces solidarity contribution for banks and insurance companies

October 18, 2024

Italy’s 2025 budget draft will be introducing several tax measures to reduce the tax burden for employees and pensioners. The...

Singapore: Second Finance Minister outlines key provisions of Income Tax (Amendment) Bill, Multinational Enterprise (Minimum Tax) Bill

October 17, 2024

Singapore’s Second Minister for Finance, Indranee Rajah, presented the Income Tax (Amendment) Bill and the Multinational Enterprise (Minimum Tax) Bill...

Mauritius gazettes amending protocol to tax treaty with Bangladesh

October 17, 2024

Mauritius has gazetted the amending protocol (Government Notice No. 182 of 2024) to the 2009 Double Taxation Avoidance Convention (BM...

Lithuania proposes draft law to eliminate double taxation on Taiwan related income

October 17, 2024

Lithuania’s Ministry of Finance has announced a draft law on the Elimination of Double Taxation and the Prevention of Tax...

Colombia clarifies Significant Economic Presence rules under corporate income tax regulations

October 17, 2024

The Colombian tax authority (DIAN) has released new guidance on how companies should interpret the concept of Significant Economic Presence...

Saudi Arabia introduces new real estate transaction tax regulations

October 17, 2024

Saudi Arabia has released updated regulations for its real estate transaction tax (RETT) system, published in the Official Gazette on...