Namibia: MOF publishes the 2021/22 Budget Statement
On 17 March 2021, the Ministry of Finance has published the budget statement for 2021/22 providing the following tax reforms: There were no proposed increases or changes to the main tax brackets.Budgeted expenditure for the 2022 year will be
See MoreGhana: Budget Announcements for 2021
On 12 March 2021, Mr. Osei Kyei-Mensah-Bonsu, the Finance Minister of Ghana’s Caretaker Govt., presented the 2021 Budget Statement and Economic Policy in the Parliament. Among the revenue provisions in the 2021 budget are the following tax
See MoreUK Budget Announcements for 2021
On 3 March 2021 the Chancellor announced the UK budget provisions for 2021. The furlough scheme, which pays 80% of employees' wages, will be extended until the end of September 2021, but employers will be asked to contribute 10% in July and 20%
See MoreHong Kong: Tax measures proposed in 2021-22 Budget
On 24 February 2021, Hong Kong Financial Secretary Paul Chan presented the 2021-22 Budget providing following tax measures. The Financial Secretary proposed a one-off reduction of profits tax, salaries tax and tax under personal assessment for the
See MoreSouth Africa: Finance Ministry presents Budget 2021 in Parliament
On 24 February 2021, the Finance Minister, Tito Mboweni, made 2021 budget speech in the Parliament. Most of that relief will reduce the tax burden on the lower and middle-income households. Some of the tax proposals in this budget are given
See MoreSingapore: Summary of tax changes in Budget 2021
On 16 February 2021, the following tax changes were announced by Deputy Prime Minister and Minister for Finance, Mr. Heng Swee Keat, in his Budget Statement for the Financial Year 2021. Tax measures in the budget 2021 concern: Investment
See MoreIndia: Finance Minister presents the Union Budget 2021-22
On 1 February 2021, the Finance Minister presented the Union Budget 2021-22 containing following tax proposals. The budget proposed to reduces the length of time for assessment procedures from 24 months to 21 months (measured from the end of the
See MoreSri Lanka: Budget for 2021
The Inland Revenue Department (IRD) of Sri Lanka has issued a notice to taxpayers announcing the tax proposals in the 2021 Budget recently presented in parliament. As per the National budget of 2021 presented in Parliament, following new
See MoreBolivia: Government publishes Budget Law for 2021
On 28 December 2020, the Government Officially published the Budget Law for 2021 and Law No. 1355, which effects from 1 January 2021. Under Law No. 1355, a 5% VAT refund is introduced on sales prices for low-income individuals with monthly income
See MoreBulgaria: Government reveals tax measures included in 2021 Budget
On 8 December 2020, the Government Officially published a Law, which provides tax measures included as part of the 2021 Budget. The key measures are given below: The Law introduced new deadline for filing annual corporate income tax returns up
See MoreMongolia: Parliament approves State Budget Law for 2021
The State Budget Bill for the fiscal year of 2021 was adopted at the State Great Khural’s plenary session of 13 November 2020 along with its appropriation bills. On 25 November 2020, the President of Mongolia, Battulga, refused 2021 State Budget
See MoreBulgaria: Parliament passed the Budget Act 2021
On 26 November 2020, the Parliament passed conclusively the 2021 Budget Act, which will enter into force on 1 January 2021. In the transitional and final provisions, Parliament today voted on child benefits and on tax breaks for childcare. The
See MorePapua New Guinea: Department of Treasury publishes taxation bills for 2021
With a theme of “Consolidation for Growth”, on 17 November 2020, the government of Papua New Guinea has presented Budget 2021 that focuses on fiscal consolidation and stimulating economic growth with the aim of rebuilding the living standards
See MoreItaly publishes draft Budget for 2021
On 20 November 2020, the Italian Government published an updated version of the draft budget law for the year 2021, which is currently under discussion within the Italian Parliament. Following tax measures contained in the Draft Budget relate
See MoreSri Lanka: Budget for 2021
On 17 November 2020, Mr. Mangala Samaraweera, the Finance Minister of Sri Lanka presented Budget for 2021. Finance Minister stated that tax law will be amended where it will be mandatory for all Companies to file their taxes only on an
See MoreMalaysia: Finance Minister tables the budget for 2021
On 6 November 2020, the Minister of Finance Tengku Datuk Seri Zafrul Abdul Tengku Abdul Aziz unveiled the annual budget speech in Parliament for 2021. The following tax measures has been proposed under the budget 2021. A new tax incentive
See MoreBulgaria: Cabinet approves draft Budget Bill 2021
On 28 October 2020, the Bulgarian Cabinet approved the 2021 Budget bill drafted by the Finance Ministry at a Cabinet meeting. The President made clear that this is not an electoral Budget. This is a Budget for after the elections, so that there are
See MoreIreland: Finance Minister publishes Finance Bill 2020
On 22 October 2020, the Finance Minister, Paschal Donohoe TD, published Finance Bill 2020 following Cabinet approval at the Government meeting. The Bill underpins the Government’s support for the economy in the face of Covid-19 pandemic and the
See More