OECD: Decarbonisation and Intergovernmental Fiscal Relations

11 June, 2023

On 6 June 2023 the OECD published a working paper with the title Decarbonisation and intergovernmental fiscal relations: Policy challenges and reform options by Luiz de Mello and Teresa Ter-Minassian. The study represents the latest in a series of

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Norway releases proposed amendment to the petroleum taxation system

09 September, 2021

On 31 August 2021, the government of Norway has issued a release proposing amendment to the petroleum taxation system. Under the amendment, the Government is proposing to revise the special petroleum tax system as of 2022, replacing the rules on

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Saudi Arabia exempts from income tax for oil and hydrocarbon production

11 July, 2020

On 26 June 2020, the Saudi Arabian government issued Royal Decree No. M/153 providing an exemption of income taxes for oil and hydrocarbon production non-Saudi companies listed in the Saudi financial market. The Decree has explained that this

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Namibia: Finance Minister proposes Budget for 2019/20

13 April, 2019

On 27 March 2018, the Finance Minister of Namibia presented the budget for 2019 to the parliament. The following tax proposals will be finalized in this budget for 2019: Phasing out the current tax incentive for manufacturers and exporters

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South Africa introduces Budget 2019 in parliament

24 February, 2019

On 20 February 2019, Tito Mboweni (South Africa’s Minister of Finance) presented the Budget 2019 in the parliament. The budget proposal would not increase taxes in any category but proposed to increase tax collection by not adjusting for inflation

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China: Draft Law on Resource Tax

31 March, 2018

First introduced in 1984, the Resource Tax originally applied to crude oil, natural gas, coal, and other mineral resources based on their quantity and weight. The Chinese Government first extended the Resource Tax nationwide in November 2011. By

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Netherlands: MoF publishes an overview of tax changes for 2018

21 December, 2017

The Ministry of Finance (MoF) provides an overview of the most important tax changes as of January 1, 2018, which were approved by parliament on 19th December 2017. It concerns changes in the field of income tax, payroll tax, gift and inheritance

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UK: Impact of video games tax relief

20 July, 2017

Research has been conducted on behalf of HMRC to look at the impact of video games tax relief (VGTR) on the production of culturally British and European video games. The survey was conducted by holding qualitative in-depth interviews with 51 video

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Mozambique provides a draft law that revises the tax rules for oil and mining operations

07 June, 2017

The Council of Ministers in Mozambique, on 30th of May 2017, approved the proposed changes to the special tax regimes applicable to Petroleum and Mining Operations. The following step is for the draft bill to be sent to Parliament for approval and

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Nigeria: Electronic tax clearance certificate expected to be introduced soon

17 April, 2017

The Federal Inland Revenue Service (FIRS) declares it will soon announce electronic Tax Clearance Certificate (TCC) system to assist reduce fraudulent certificates. The implementation of the e-TCC verification system had reached an advanced stage,

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Greece: Maximum amount of aid per investment project offered for 2016

24 October, 2016

Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical

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Greece: Maximum amount of aid for 2016

18 October, 2016

Ministerial Decree No. 106688 was published in the Official Gazette on 14th October 2016 regarding the determination of the maximum amount of aid per investment project tendered in 2016 under the new investment law. This decree refers Mechanical

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Turkey: R&D reform Package increases

04 October, 2016

Some amendments regarding the current research and development (R&D) incentives were introduced on the basis of Turkish Law no. 6676. Companies those carry out R&D activities in Turkey may benefit from the R&D incentives and aids for

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UK: Statistics for Creative Industries Tax Relief

01 August, 2016

On 20 July 2016 the UK published updated statistics on claims for creative industry tax relief. The statistics include data for the film tax relief, high end television tax relief, animation tax relief and video games tax relief for periods up to

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Puerto Rico: Tax credit guidance issues on limited utilization

18 May, 2016

The Treasury Department released Informative Bulletin No. 16-11 of 6 May 2016 to pronounce that a restriction will be obligatory to the application of the investment, investigation and development tax credit which refers to a tax credit equal to 50%

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Argentina- exemptions for biofuels extended

05 May, 2016

The Executive Branch’s Decree 630/2016 of Argentina was published in the Official Gazette on 2 May 2016. The Decree became effective from that date and extended the provisions as follows: –Amended article 4, chapter I, title III of Law 23966

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Norway: Fiscal Budget for 2016 Approved with Tax Measures

14 January, 2016

The Norwegian Government has approved its 2016 Fiscal Budget on 14 December 2015. The corporate income tax rate has been reduced from 27% to 25%. The current limit of NOK15 million increases to NOK20 million for in-house research and development

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UK: Statistics for Creative Industries Tax Relief

29 December, 2015

The UK has published statistics relating to the claims made for creative industry tax relief. The statistics include data for the film tax relief, high end television tax relief and animation tax relief for periods to April 2015. In the case of high

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