France: Government publishes draft Finance Bill for 2021
On 28 September 2020, the Council of Ministers adopted the French Budget Bill for 2021 or Finance Bill 2021. The draft Bill also includes the recovery plan to restore the economy following the coronavirus pandemic. French Parliamentary discussions
See MoreSweden: Government submits the Budget Bill for 2021 to the Riksdag
On 21 September 2020, the Government has submitted the Budget Bill for 2021 to the Riksdag (the national legislature and the supreme decision-making body of Sweden). The Budget proposes the following key tax measures: Temporary tax
See MoreUK: Autumn Budget postponed
The UK budget that would normally be announced in the autumn will not take place this year. A government spending review will be carried out to establish the level of spending by government departments, but no long-term tax plans will be
See MoreNetherlands: Budget proposals for FY 2021
On 15 September 2020, the Dutch government published the budget proposals for fiscal year 2021. The proposals are currently subject to the review and discussions by the Dutch Parliament and as such may be subject to amendments. The final version of
See MoreDenmark: Government presents draft Budget for the year 2021
On 31 August 2020, the Government presented the draft Budget 2021 or Finance Bill 2021 to the Parliament. The Government's proposal for a Finance Act for 2021 is marked by the corona pandemic, which continues to create both health and economic
See MoreFinland: Ministry of Finance announces budget proposal for 2021
On 12 August 2020, the Finnish Ministry of Finance announced the 2021 budget proposal including following tax measures. A temporary incentive R&D tax deduction for 2021-24 for business investments in intangible assets, with an additional
See MoreFrance: Government publishes third amending Finance Law for 2020
On 31 July 2020, the Government Officially published Law No. 2020-935, which was basically third amending Finance (Budget) Law for 2020. The Law includes the following changes: Deferral of DAC6 reporting obligations According to the Law, the
See MorePortugal publishes Supplementary 2020 Budget
On 24 July 2020, Portugal published Law No. 27-A/2020 in the Official Gazette and entered into force on 25 July 2020. The law provides for the Supplementary 2020 Budget and an economic and social stabilization program in response to the
See MoreBangladesh: National Parliament passes budget for 2020-21 FY
On 30 June 2020, national budget of Tk. 5680 billion for the fiscal year 2020-2021 has been passed in national Parliament and the National Board of Revenue (NBR) has published the Finance Act 2020 with effect from 1 July 2020. The Key tax
See MoreSouth Africa: Finance Minister delivers 2020 Supplementary Budget review
On 24 June 2020, the Finance Minister presented the supplementary Budget review for the year 2020. The key points of the review are given below: To build a bridge to recovery beyond COVID-19.Revision to in-year spending plans and the division of
See MoreTanzania: Budget 2020 proposes tax relief to employees
On 11 June 2020, the Finance Minister proposed amendments in the Income Tax Act, while tabling the budget 2020/2021 in the Parliament. The Minister is proposed to increase the salary of the employee that will increase the income threshold from
See MoreTanzania: Finance Minister presents Budget for 2020/21 to the Parliament
On 11 June 2020, the Finance Minister presents the Budget for 2020/21 to the National Assembly. The Minister indicated that the economic impact of the COVID-19 pandemic in Tanzania is not as severe as compared to other countries. This budget
See MoreKenya: National Budget for FY 2020/21
On 11 June 2020, the Cabinet Secretary for the National Treasury and Planning, Mr. Ukur Yatani Kanacho delivered the 2020/21 Budget to the National Assembly. The summary of proposed tax measures are following: Income Tax Measures Raised
See MoreFrance: Government presents third amending Budget for 2020
On 10 June 2020, the Government announced that the Minister of Economy and Finance and the Minister of Action and Public Accounts have presented an amending finance bill for 2020. The Budget includes social contribution relief for affected sectors
See MorePakistan: Federal Budget 2020-21
On 12 June 2020, the Finance Bill 2020 was presented to the national parliament with several tax measures that would affect certain income tax, indirect tax, and customs provisions. The outlay of the budget is: Total revenues are projected at
See MoreBangladesh: National Budget for FY 2020-21
On 11 June 2020, Mr. AHM Mustafa Kamal, the Finance Minister of Bangladesh has presented the national budget of Tk. 568,000 crore with an ambitious target of 8.2 percent GDP growth for the FY 2020-21 in Parliament. The revenue collection
See MoreNorway issues revised budget for the fiscal year 2020
On May 12, 2020, the Norwegian government submitted a proposal for a revised budget for 2020. The revised budget includes increased flexibility for taxpayers to request an extension of tax obligations due to difficulties related to the COVID 19
See MoreEstonia: Parliament passes supplementary budget amid COVID-19 pandemic
On 15 April 2020, The Estonian Parliament has issued a press release announcing that the Act on the supplementary budget has been passed to implement the economic measures related to the spread of the COVID-19. The aim of the measures is to
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