Saudi Arabia exempts from income tax for oil and hydrocarbon production
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
See MoreNamibia: Finance Minister proposes Budget for 2019/20
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
See MoreNorway: Fiscal Budget for 2016 Approved with Tax Measures
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
See MoreNigeria: Tax withheld on dividends from gas operations
A decision of a case entitled “Nigeria Agrip Co. Ltd v. Federal Inland Revenue Service (10th December 2014)” has been issued by the Tax Appeal Tribunal and it states that dividends paid by a gas exploration and production company and paid out of
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