Saudi Arabia: ZATCA provides tax guidance on software payments

February 20, 2024

On 4 February 2024, Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) announced guidelines regarding the taxation of 29 types of software payments. These payments result from transactions between non-residents and residents of Saudi Arabia

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India: CBDT issues guidelines for withholding tax on e-commerce transactions

January 10, 2024

On 28 December 2023, the Central Board of Direct Taxes (CBDT) issued guidelines clarifying the deduction of withholding tax in e-commerce transactions under Section 194-O of the Income-tax Act, 1961. The details of the guidelines are outlined as

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Russia: MOF publishes tax policy plans for 2024

November 21, 2023

On 2 November 2023, the Ministry of Finance in Russia released a statement regarding the tax policy proposals announced by State Secretary and Deputy Minister of Finance, Alexey Sazanov, during a recent event hosted by the B1 company. The statement

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Saudi Arabia decreases withholding tax rate on technical and consulting services

September 18, 2023

On 15 September 2023, Saudi Arabia published Decision No. (25) of 8/01/1445H (26 July 2023) in the Official Gazette. The Decision came into force on the same date of its publication. One of the main changes of the Decision was decreasing the

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Brazil publishes law reducing WHT rate on cross-border payments

March 08, 2023

On 28 February 2023, the government of Brazil has published Law no. 14,537, which reduces the withholding tax rates for cross-border payments related to travel to foreign individuals or entities residing or having their registered offices

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Malaysia gazettes finance act 2021

January 09, 2022

On 31 December 2021, the finance act 2021 was gazetted providing following tax measures. The Finance Bill was tabled in Parliament on 9 November 2021 incorporating a number of announcements made in the Budget 2022. Abolish income tax exemption

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India: Central Board of Direct Taxes (CBDT) publishes finance act 2020

April 09, 2020

On 27 March 2020, the Central Board of Direct Taxes (CBDT) published the Finance Act 2020 that includes measures announced as part of the Union Budget 2020-2021 and others. The measures of the Finance Act generally apply from 1 April 2020 (or

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Nigeria: President signs Finance Bill 2019 into Law

January 15, 2020

On 13 January 2020, the President, Muhammadu Buhari, signed the 2019 Finance bill into law. It was submitted alongside the 2020 budget to the National Assembly. The new law contains over 90 changes to 7 different tax laws. Corporate income

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Iceland: Parliament adopts increased withholding tax rates for 2018

January 31, 2018

The parliament has approved the Budget for 2018 and it has implemented an overall increase in withholding tax rates effective 1 January 2018 as follows: the standard rate of withholding tax on Icelandic interest, capital gains and dividend income

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Malaysia introduces tax exemption on payment paid for offshore services

October 31, 2017

The Income Tax (Exemption) (No. 9) Order 2017 (Exemption Order) was published in the Federal Gazette on 24 October 2017. The Exemption Order excludes non-residents from payment of income tax in respect of certain categories of income derived from

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Brazil publishes private ruling on royalty and technical service payments

June 25, 2017

Brazil has published Private Ruling 316 of 20 June 2017 on royalty and technical service payments and payments for services under cost sharing agreements. The ruling explicates the accountabilities for social security contributions (PIS/COFINS) on

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India: Reimbursement of costs for training and general insurance not included in fee for technical services

May 28, 2017

The Mumbai Bench of the Income-tax Appellate Tribunal in the case of: Gemological Institute International Inc v. DCIT (ITA No. 4659/Mum/2014) and (ITA No. 385/Mum/2016) held that, the amounts received by the taxpayer were not taxed as technical

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Angola: Tax provisions released in Budget Law 2017

February 19, 2017

The budget law 2017 was officially made available to the public on 10th February 2017.  The budget law was approved by the National Assembly on 17 November 2017 and was enacted on 31 December 2016. According to Budget Law 2017, the 10% withholding

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Brazil: Tax authority defines withholding tax payments for technical services source in US

January 23, 2017

Brazilian tax authorities define the withholding tax for technical services made available by individuals in United States through Private Ruling 5/2017 (Solução de Consulta 5/2017), published in the Official Gazette on 18 January 2016. The

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DTA protocol between Brazil and Canada confirm WHT rate on technical services

January 23, 2017

A Private Ruling 5/2017 (Solução de Consulta 5/2017) has been published in the Official Gazette on 18th January 2016. This ruling confirms that payments made by Brazilian sources to individual or companies resident in Canada for technical

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Namibia: Budget proposals for 2015-16

April 16, 2015

The Namibian budget speech for 2015-16 was delivered on 31 March 2015. In the budget it was proposed to reduce the corporate income tax rate for non-mining companies from 33% to 32%. There will be no change in the corporate tax rate for mining

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