Saudi Arabia: Royal Decree on amendment to the Income tax law issued
The government of Saudi Arabia issued Royal Decree No. M/131 on 20 September 2017 modifying certain articles of the Income Tax Law (ITL). The most important amendments brought by the Royal Decree are as follows: -Shares in domestic corporations held
See MoreChina: Draft of tobacco leaf tax law submitted to NPC for review
On 28 August 2017, the Law of the People's Republic of China on Tobacco Leaf Tax (Draft) was submitted to the 29th Session of the 12th Standing Committee of the NPC with the current tax rate of 20% to remain unchanged. According to the Third Plenum
See MoreJersey: Draft Budget 2018 Published
The Government published the Draft Budget 2018 on October 3, 2017. This budget constructs the package of measures agreed in the Medium Term Financial Plan (MTFP), combining savings, efficiencies and revenue raising measures to enable investment in
See MoreTurkey: Government introduces new tax plan
The Finance Minister, Naci Ağbal, announced significant tax increases on September 27, 2017 during the Medium Term Program meeting (2018-2020). A new legislative proposal increasing corporate income tax from 20% to 22% for financial sector and
See MoreIndia: Presents Budget for 2017-18
The Finance Minister of India presented Budget for 2017-18 to the Parliament on 1 February 2017. Here are the main tax proposals of the Union Budget 2017-2018: Corporate tax: The new Budget introduced following concessional tax rate for small
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