Kenya: KRA announces tax amnesty on interest and penalties
On 1 September 2023, the Kenya Revenue Authority (KRA) released a public notice regarding a tax amnesty on interest and penalties introduced in the Finance Act 2023. The Kenya Revenue Authority (KRA) would like to notify taxpayers that the
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US: IRS grants penalty relief for corporate alternative minimum tax
On 7 June 2023, the Department of Treasury and the Internal Revenue Service issued Notice 2023-42, which will grant penalty relief for corporations that did not pay estimated tax in connection with the new corporate alternative minimum tax
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Malaysia: PM presents the revised budget for 2023
On 24 February 2023, Anwar Ibrahim, the Prime Minister and Minister of Finance, presented the revised budget for 2023. The budget was first introduced on 7 October 2022, but Parliament dissolved shortly after that ahead of the November 2022
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El Salvador: Legislative Assembly adopts tax amnesty program
On 24 August 2022, the Legislative Assembly of El Salvador approved tax amnesty program that allows taxpayers voluntarily come forward, accurately declare their income and pay any undeclared or underreported taxes. The El Salvador tax authorities
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US: IRS provides broad-based penalty relief for certain 2019 and 2020 returns
To help struggling taxpayers affected by the COVID-19 pandemic, on 24 August 2022, the Internal Revenue Service issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The relief
See MoreBulgaria announces fines for administrative violations will be 20% lower
On 29 December 2021, the National Revenue Agency (NRA) announced that taxpayers fined for administrative violations of tax laws can only pay 80% of the fine imposed. This is only allowed if the taxpayer pays the fine within 14 days of the
See MoreVietnam issues decree on additional tax support measures for 2021
On 27 October 2021, the Department of Taxation (GDT) published Decree No. 92/2021 / ND-CP of 27 October 2021, which contains implementing provisions for the application of Decision No. 406 / NQ-UBTVQH15 to provide additional tax assistance contains
See MoreSlovak Republic introduces relief measures in response to the Covid-19 pandemic
On 24 February 2021, the Slovak Republic has published Regulation No. 88/2021 regarding the relief of late payment interest and penalties in response to the Covid-19 pandemic. Regulation No. 88/2021 entered into force on 26 February 2021. The tax
See MoreSaudi Arabia: GAZT extends tax relief measures up to 31 December 2020
On 6 October 2020, the General Authority of Zakat and Tax (GAZT) of Saudi Arabia has issued a press release, through which they cancel the fines and exemption from financial penalties for taxpayers until 31 December 2020 in response to the
See MoreSaudi Arabia: GAZT extends tax initiatives up to 30 September
On 17 August 2020, the General Authority of Zakat and Tax (GAZT) of Saudi Arabia has issued a press release, through which they cancel the fines initiative and exemption from financial sanctions for taxpayers until 30 September 2020 in
See MoreNigeria: FIRS extends interest and penalty relief deadline regarding some tax liabilities
On 9 July 2020, the Federal Inland Revenue Service (FIRS) announced the due date of the waiver of penalty and interest relief regarding tax liabilities or tax debts owed by individuals and businesses is extended from 30 June 2020 to 31 August 2020.
See MorePuerto Rico: Treasury Department issues Administrative Determination regarding tax returns for 2017
The Puerto Rico Treasury Department has issued Administrative Determination No. 18-07, which determines to grant all taxpayers who file a request for automatic extension to return file for 2017, a total term of 6 months, instead of the term of 3
See MoreNigeria: President accepts VAIDS deadline extension until 30 June
The President, Muhammadu Buhari, has approved the extension of the Voluntary Assets and Income Declaration Scheme (VAIDS) to June 30, 2018 from March 31, 2018. Note that, no further extension of time will be approved after June 30, 2018. The VAIDS
See MoreGhana: Government passed the Tax Amnesty Bill 2017
On 22 December 2017, the Parliament has passed the Tax Amnesty Bill 2017 for a period of eight months. The Bill, passed under a certificate of urgency has eight clauses, among which are amnesty for taxes, penalties and interests, and prohibits the
See MoreNigeria: New tax amnesty scheme in force
According to an announcement from the Finance Ministry, a new tax amnesty called the Voluntary Assets and Income Declaration Scheme (VAIDS), entered into force on July 1, 2017 for both individuals and corporations. The amnesty aims to raise tax
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