OECD: Taxing Wages 2022
On 24 May 2022 the OECD published the latest issue of the annual publication Taxing Wages 2022. This sets out details of taxes paid on wages in OECD countries, covering personal income taxes and social security contributions paid by employees;
See MoreIMF Report Recommends Policy Changes for Germany
On 23 May 2022 the IMF published a report following discussions with Germany under Article IV of the IMF’s articles of agreement. Germany’s economic recovery was gathering strength before the Ukraine war began, but the war has impacted the
See MoreIMF Report Considers Fiscal Policy in Denmark
On 9 May 2022 the IMF issued a report following discussions with Denmark under Article IV of the IMF’s articles of agreement. The economic recovery is likely to continue in Denmark, with the lifting of restrictions introduced during the
See MoreIMF: Tax Policy and Gender Equality
On 22 April 2022, as part of the Spring Meetings of the IMF and World Bank, there was a video presentation on gender and taxation by Maria Coelho of the Fiscal Affairs department of the IMF. The speaker noted that laws that once existed legally
See MoreIMF: Untapped Revenue Potential of Personal Income Tax
An IMF blog post of 24 March 2022 considers the potential for developing countries to raise more revenue from the personal income tax. This issue has gained importance as low-income countries look for a sustainable recovery after the pandemic and
See MoreSouth Africa: Finance Minister delivers Budget 2022-2023 in National Assembly
On 23 February 2022, the Finance Minister, Mr Enoch Godongwana, delivered the 2022-2023 Budget Speech to the National Assembly at the Good Hope Chamber. Some of the main tax measures are given below: The corporate income tax rate was proposed to
See MoreAlgeria: Ministry of Finance publishes Finance Law for the year 2022
On 30 December 2021, the Finance Ministry Officially published the 2022 Finance Law. Some of the measures of this Act are given below: Corporate income tax With some conditions, a reduced 10% corporate tax rate is provided for qualifying
See MoreIMF: How Taxes Can Support Growth in Latin America and the Caribbean
On 14 December 2021 the IMF published a Country Focus on the role of taxation in the Latin America and Caribbean (LAC) region. The analysis is based on the IMF’s latest Regional Economic Outlook for the region. The IMF notes that the public
See MoreFrance: Government Officially publishes Finance Act 2022
On 31 December 2021, Government Officially published Finance Law for the year 2022. On 22 September 2021, the Minister of Economy, Finance and Recovery, Bruno Le Maire and the Minister Delegate in charge of Public Accounts, Olivier Dussopt,
See MoreIreland: President signs Finance Bill 2021 into Law
On 21 December 2021, President signed the 2021 Finance Bill into Finance Act 2021, which provides for the implementation of the 2022 Budget measures as well as some necessary anti-avoidance measures and technical changes to the tax code. Some of
See MoreRussia increases the interest rate from December 2021
On 17 December 2021, the Russian Central Bank has announced the decision to increase the key rate from 5% to 8.5% with effect from 20 December 2021. The new rate applies from The CBR's key interest rate is used for the purposes of calculating
See MoreFrance: Government presents 2022 Finance Bill to National Assembly
On 22 September 2021, the Minister of Economy, Finance and Recovery, Bruno Le Maire and the Minister Delegate in charge of Public Accounts, Olivier Dussopt, presented 2022 Finance Bill to the National Assembly. Some of the proposed changes of this
See MoreSouth Africa: SARS publishes 2021 tax guide
On 30 August 2021, the South African Revenue Service (SARS) published 2021 Tax Guide or Budget 2021 Tax Guide, which provides a synopsis of the most important tax, duty and levy related information for 2021/22. The guide includes the Tax
See MoreIMF: Focus on the Informal Economy
On 28 July 2021 the IMF published a country focus setting out facts on the informal economy. Activities with market value that are not formally registered The informal economy includes various activities such as minibus drivers, market stands
See MoreBotswana enacts budget for 2021/22
On 30 June 2021, the Minister of Finance and Economic Development published a press release announcing the implementation of the budget for 2021/22. The most important measures are: -The general withholding tax rate increased from 7.5% to 10% on
See MoreSouth Africa: Call for comments regarding 2021 draft Tax Bills
On 28 July 2021, the National Treasury and the South African Revenue Service (SARS) have invited the public to comment by no later than 28 August 2021 on the second batch of the 2021 Draft Taxation Laws Amendment Bill and 2021 Draft Tax
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 MoreIMF: Discussion of Tax Aspects of the Fiscal Monitor Reports
On 7 April 2021 the IMF held a press briefing to discuss the latest issue of the IMF Fiscal Monitor. The Fiscal Monitor for April 2021 looks at the actions countries have taken in response to the pandemic and discusses how government policies
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