UAE: FTA specifies corporate tax registration deadlines
On 27 February 2024, the UAE Federal Tax Authority (FTA) announced that it issued the FTA Decision No. 3 of 2024, in which it outlined the timeframes for Taxable Persons subject to Corporate Tax to apply to register with the FTA and avoid being in
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Albania: New law brings significant changes to withholding tax application
Albania’s newly enacted Income Tax Law No. 29/2023 significantly modifies the imposition of withholding tax. One key aspect of this updated income tax legislation is the distinction it highlights between payments to registered persons (local
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India: CBDT issues circular explaining tax provisions under Finance Act 2023
On 23 January 2024, the Central Board of Direct Taxes (CBDT) of India released Circular No. 1/2024 explaining the tax provisions outlined in the Finance Act 2023. The circular is presented with the statement, "This circular elucidates the essence of
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Colombia issues tax return filing deadlines for year 2024 and beyond
On 22 December 2023, Colombia's Ministry of Finance published Decree No. 2229 of 22 December 2023, outlining the deadlines for filing tax returns and payments for the year 2024 and subsequent years. The main deadlines for tax returns and payments
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Peru issues resolution to extend deadlines for individuals, micro and small enterprises tax returns
On 31 December 2023, Peru published the Superintendency Resolution No. 000269-2023/SUNAT of 29 December 2023. The resolution extends the deadlines for submitting the annual income tax returns and payments by individuals and micro and small
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South Africa: SARS issues updated guide on taxation
On 1 November 2023, the South African Revenue Service (SARS) issued an updated guide on taxation. This guide providing a high-level overview of the most significant tax legislation administered in South Africa by the Commissioner for the South
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Nigeria: FIRS updates online portal, announces payment deadline for outstanding tax liabilities
The Federal Internal Revenue Service (FIRS) issued a notice that mentioned updates to the TaxPro-Max portal. These updates are expected to alleviate the tax payment issues faced by taxpayers. As per the notice, the payment reference number (PRN)
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Argentina introduces new advance tax payment for financial services companies
On 28 September 2023, the Argentine Federal Tax Authority (AFIP) released General Resolution No. 5424/2023 (the Resolution), introducing a new income tax prepayment requirement for companies primarily engaged in "Financial Intermediation and
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Switzerland increases tax payment interest rates
On 11 September 2023, the Swiss Federal Tax Administration announced amended interest rates for late payment, refund, and advance tax payments. The announcement includes interest rates as follows: Interest rate for late payment and refund -
See MoreArgentina: AFIP extends tax payment deadline under the special regime for small taxpayers
On 4 September 2023, the Argentine Federal Administration of Public Revenue (AFIP) published General Resolution 5411 which extends the due date for paying the tax payment within the simplified tax scheme for the following monthly periods:
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Kazakhstan: National Bank reduces the annual base interest rate from August 2023
On 25 August 2023, the National Bank of Kazakhstan decided to reduce the annual base interest rate from 16.75% to 16.50% with effect from 28 August 2023. The interest rate has a tax effect on the late tax payment interest and
See MoreArgentina: AFIP establishes exceptional corporate income tax advance payment
On 21 July 2023, the Argentine Tax Authority (AFIP) issued General Resolution No. 5391/2023 which outlines the implementation of an exceptional advance income tax payment requirement for specific companies in the year 2023. Companies meeting the
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Kenya: Tax measures in finance act 2023
On 3 July 2023, the Kenya Revenue Authority published the Finance Act 2023, following its presidential assent on 26 June 2023. The act includes the following notable provisions related to corporate income taxation. Digital assets
See MoreArgentina: AFIP introduces new payment facility for outstanding tax on SMEs
On 17 May 2023, Argentine tax authority (AFIP) has published General Resolution No. 5361/2023 which introduce a new payment facility for outstanding tax, social security, and customs obligations due until 30 April 2023, containing related interest
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Venezuela increases tax unit value for 2023
On 8 May 2023, the National Integrated Service of Customs and Tax Administration (SENIAT) of Venezuela published Administrative Ruling SNAT/2023/000031 in the Official Gazette, which increases the value of tax units from VES 0.40 to VES 9.00 for the
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Turkey extends several deadlines for tax return and payment
On 25 April 2023, the Turkish Revenue Administration announced the extension of several deadlines for tax returns and payment. Accordingly, the corporate tax return and payment deadline for the accounting period 2022 has been extended to May 5 2023
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Luxembourg: Government submits draft bill on transfer pricing and general tax procedures
On 28 March 2023, the Luxembourg government submitted Bill No. 8186 to the Parliament. The bill includes changes in advance pricing arrangement (APA), mutual agreement procedure (MAP), compliance with transfer pricing documentation requirements, and
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Vietnam: MoF announces tax payment extensions for 2023
On 14 April 2023, Vietnam's Ministry of Finance (MoF) has issued Decree No. 12/2023/ND-CP, which provides for tax payment deadline extensions for qualifying taxpayers in various sectors, including agriculture, manufacturing, and SMEs. The extensions
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