Malaysia: Prime Minister announces the Budget for 2018
On October 27, 2017, Malaysian Prime Minister Najib Razak presented the budget for 2018, outlining government plans to combat rising costs and limit the country's fiscal deficit. Some of the key fiscal tax measures are summarized as follows: Tax
See MoreItaly: Tax ruling on withholding tax exemption for foreign investments in real estate
The Tax Authority of Italy (Agenzia delle Entrate) has issued a tax ruling -Risoluzione n. 78/2017- on 27 June 2017. The ruling is related to certain foreign investment funds which wish to benefit from an exemption from withholding tax. The tax
See MoreDominican Republic: DGII extends fiscal support to the agricultural sector
The Directorate General of Internal Taxes (DGII) on 6 April 2017, declared the extension of fiscal support for the agricultural sector that frees them from the payment of advances on Income Tax, the payment of the Tax on Assets and the Withholding
See MoreKenya presents budget for 2017-18
The Cabinet Secretary submitted the budget for 2017-18 to the National Assembly on 30 March 2017. the main changes are summarised below: Withholding taxes Dividends paid to non-residents by enterprises operating in Special Economic Zones will be
See MoreUK: £60 million tax reform to improve digital revolution
The United Kingdom’s digital revolution is set to benefit from a multi-million pound boost, under plans announced by Communities Secretary Sajid Javid. On 13 January 2017, a new Local Government Finance Bill published that will make it easier
See MorePakistan: Introduces an incentive scheme for industrial and trade sectors under no question on source of investment
The government has agreed on a new incentive scheme for industrial and trade sectors under which tax authorities will not question the source of investment, industry sources said on 22 January 2017. Sources in Federal Board of Revenue (FBR) also
See MoreNigeria: Finance Ministry issues amended regulation to reinstate WHT rate
The Finance Minister of Nigeria has issued amended regulations to increase the withholding tax (WHT) rate from 2.5% to 5% for all aspects of building, construction, and related activities (excluding survey, design and deliveries). The Regulation
See MoreNigeria: Budget 2017 has been presented to the parliament
The President of Nigeria has presented the budget 2017 on 14th December 2016 to a joint session of the National Assembly. The Budget includes the following proposals: reviving the export expansion grant scheme due to the tax credit’s provision
See MoreNigeria: Companies Income Tax Act (Amendment) Bill 2015 was passed in Senate
The amended Companies Income Tax Act bill 2015 has been passed the second reading in the Senate on 16th November 2016. The Bill proposes to deliver the following extra tax incentives to companies: Companies those are engaged in the mining of
See MoreMalaysia: Tax incentives for companies participating in the MY Carbon programme
The Finance Ministry has approved tax incentives on 18 February 2016 for companies participating in the National Corporate Greenhouse Gas Reporting Programme for 2015 and 2016 (MY Carbon programme) said Natural Resources and Environment Minister of
See MoreThailand: IMF reports on preliminary findings
The IMF has completed a mission to Thailand from 15 to 29 January 2015 to hold discussions in connection with the Article IV Consultation. The IMF is expecting Thailand to continue a gradual economic recovery in 2015 and growth is estimated at 3.5%.
See MoreUS: Proposes tax break for investment in infrastructure fund
The US is planning a tax break for US companies if they invest in the fund to be set up by the proposed bipartisan Partnership to Build America Act. US companies would be able to repatriate a certain dollar amount in overseas and will be able to
See MoreNorway Budget for 2014 – amendments
On 8 November 2013 the new Government presented its amendments to the Budget Bill for 2014. In general, the new Government is reducing taxes, whereas the former Government increased them. The amended Budget for 2014 contained the following
See MoreAustralia: Detail tax incentives for infrastructure projects
The government of Australia proposed some incentives through its infrastructure projects to cover the tax loss and promote the private investment. The motto was to develop its infrastructure to remain a competitive economic nation for the
See More