Nigeria: FIRS extends deadline for waiver of interest and penalties on tax liabilities
On 30 November 2021, the Federal Inland Revenue Service (FIRS) made an announcement regarding waiver of interest and penalties on company tax liabilities. The deadline for submitting all outstanding returns and pay the resulting tax liabilities,
See MoreZambia proposes the Budget for 2022
On 29 October 2021, the Minister of Finance and National Planning, the Honorable Dr. Situmbeko Musokotwane, presented the Budget for 2022 to the National Assembly of Zambia. The budget includes the following changes: Proposed to reduce the
See MoreIreland: Finance Department releases amendments to Finance Bill 2021
On 12 November 2021, the Finance Minister, Paschal Donohoe T.D., appreciated the approval by Government to a number of Government amendments to be put down at Committee Stage of the Finance Bill 2021. The Minster has decided not to proceed with
See MoreUK: Consultation on Corporate Redomiciliation
The UK budget announcements on 27 October 2021 included a proposed consultation on introducing a UK corporate re-domiciliation regime, to allow companies to re-domicile and therefore facilitate relocation to the UK. The consultation document was
See MoreUkraine: SFS clarifies PE rule for non-residents for tax purposes
On 12 October 2021, the Ukrainian State Fiscal Service (SFS) has clarified that a non-resident company considers as a permanent establishment (PE) if the company enters into agreements and carries out economic activities in Ukraine on its own
See MoreKazakhstan: State Revenue Committee announces some amendments in tax code
On 28 July 2021, the State Revenue Committee announced amendments that have been made to Tax Code. The changes were introduced by Law No. 52-VII of 24 June 2021 and, unless otherwise specified, generally apply from 1 January 2022. The Tax Code of
See MoreHong Kong: IRD issues guidance on tax matters arising from the COVID-19 Pandemic
On 29 July 2021, the Inland Revenue Department (IRD) of Hong Kong issued guidance examining certain tax issues arising from the coronavirus (COVID-19) pandemic. IRD noted that their approach in relation to the tax issues is generally in
See MoreTaiwan announces the amendments to the tax treaty rules and PE rules
On 12 August 2021, Taiwan’s Ministry of Finance has announced the amendments to the “Regulations Governing Application of Agreements for the Avoidance of Double Taxation with Respect to Taxes on Income”. The amended regulations have come into
See MorePoland: Government announces draft legislation on tax reforms
On 26 July 2021, the Government of Poland has announced a draft legislation concerning following tax reform related to corporate taxation. New definition of the place of effective business management aimed at limiting situations in which Polish
See MorePoland: Tax bill clarifies the definition of place of management
On 28 June 2021, the Poland’s Ministry of Finance has opened a public consultation for a new tax bill called the “Polish Deal.” With other amendments, the bill provides the clarification of definition of place of management for corporate
See MoreTanzania: Revenue Authority publishes Finance Act 2021
On 30 June 2021, the Revenue Authority Officially published the Finance Act 2021. Some of the tax measures, which generally applies from 1 July 2021 are given below: Permanent establishment According to Finance Act 2021, the definition of the
See MoreGreece: Tax administration issues a Circular on tax residency and PE rules
On 25 June 2021, the Tax Administration issued a Circular E. 2130 /2021, which includes additional guidelines in relation to the application of domestic law and double tax treaty provisions with respect to tax residency and permanent establishment
See MoreUS: IRS releases draft instructions Schedules K-2 and K-3 for international tax reporting
On 30 June 2021, the Treasury and the IRS released early draft instructions for the Schedules K-2 and K-3 for Forms 1065, 1120-S, and 8865 for tax year 2021 (filing season 2022). The early release drafts of the instructions provide a preview
See MoreTanzania: National Assembly publishes Finance Bill 2021
On 12 June 2021, the National Assembly published the Finance Bill 2021, which contains the measures of Budget for 2021/22. This Act shall come into operation on 1 July 2021. The Bill proposed the following things: The definition of the term
See MorePhilippines: BIR publishes a Circular on corporate income tax changes
On 17 May 2021, the Bureau of Internal Revenue (BIR) Officially published Revenue Memorandum Circular No. 62-2021, which provides clarifications on certain provisions of Revenue Regulations No. 5-2021 regarding Corporate Income Taxation. In this
See MoreKenya publishes Finance Bill 2021
On 5 May 2021, the Parliament of Kenya has published the finance bill 2021 providing the following tax measures: Reintroduce the definition of the term ‘‘Control” The definition of the term “control” was deleted with the
See MoreBelarus: Tax and Duties Ministry clarifies the taxation of PEs in Belarus
On 29 April 2021, the Tax and Duties Ministry of the Republic of Belarus has issued Guidance Letter No. 4-2-15/00981 to clarify the taxation of foreign organizations operating in the territory of the Republic of Belarus through permanent
See MoreSaudi Arabia issues circular on Force of Attraction rule in the Context of PE
The Saudi Arabian General Authority for Zakat and Tax (GAZT), in April 2021, published Circular No. 2104001, entitled Force of Attraction rule in the context of permanent establishment (pdf). The Circular confirms the GAZT’s approach to applying
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