Hong Kong: Tax measures proposed in 2022-23 Budget
On 23 February 2022, Hong Kong Financial Secretary Paul Chan delivered the 2022-23 Budget providing following corporate tax measures. The Financial Secretary proposed a one-off reduction of profits tax for the year of assessment 2021/22 by 100
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 MoreIndia: Finance Minister introduces the Budget for 2022-23
On 1 February 2022, the Union Budget for 2022-23 was presented by the Finance Minister Ms. Nirmala Sitharaman. The budget includes the following key tax proposals: The deadline for starting manufacturing/production to claim the 15% reduced tax
See MoreMalaysia: Parliament passes the budget for 2022
On 18 November 2021, the Parliament of Malaysia passed the 2022 budget at the policy stage. The budget includes the following tax proposals related to corporate taxations. To support the Government’s initiative in assisting the affected
See MoreZambia proposes the Budget for 2022
On 29 October 2021, the Minister of Finance and National Planning, the Honorable Dr. Situmbeko Musokotwane, presented the Budget for 2022 to the National Assembly of Zambia. The budget includes the following changes: Proposed to reduce the
See MoreSri Lanka: Budget proposals for FY 2022
On 12 November 2021, the Minister of Finance presented the budget proposals for 2022 that include following key tax measures: A one-time surcharge tax at a rate of 25% on companies or individuals with a taxable income exceeding Rs. 2 billion for
See MoreUK Budget announcements for 2022/23
The latest UK budget announcements were made on 27 October 2021 including the following measures: Consultation on corporate re-domiciliation This consultation seeks views on the introduction of a UK re-domiciliation regime, which would make
See MoreNorway: Government presents the National Budget for 2022
On 12 October 2021, the Government of Norway has presented the National Budget for 2022 in the Parliament includes the following tax proposals. Introduction of tax incentives for investments in small start-up companies.Reduced Bracket Tax and a
See MoreIreland: Finance Ministry delivers the Budget 2022
On 12 October 2021, the Finance Ministry presented Budget 2022, which covers the following tax measures: The new minimum effective corporation tax rate will be 15%. However, Ireland will continue to offer the 12.5% rate for businesses with
See MoreNigeria: President presents 2022 draft Budget
On 7 October 2021, the President, Muhammadu Buhari, presented 2022 draft budget to the National Assembly. The 2022 Budget, which has been themed the "Budget of Economic Growth and Sustainability", is designed to achieve the following
See MoreSweden proposes the Budget Bill for 2022
On 20 September 2021, the Ministry of Finance has proposed the Budget Bill for 2022. The budget includes the following tax measures: The introduction of a modernized withholding tax on dividends paid to non-residents, including a standard
See MoreNetherlands presents Budget for 2022
On 21 September 2021, the Dutch Budget for 2022 was presented. This year, the 2022 tax plan package mainly contains minor changes aimed at improving the tax system. In particular, improvements will be made to existing taxes in the areas of housing,
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 MoreDenmark presents Budget for 2022
On 30 August 2021, the Minister of Finance presented the government's budget proposal for 2022. With its proposal for the Finance Act 2022, most of the measures presented focus on easing the country's transition out of the crisis and include a
See MoreIndonesia: President delivers the budget speech for 2022
On 16 August 2021, the President of Indonesia, Mr. Joko Widodo delivered the budget speech for the year of 2022. In the speech, the President urged to continue the tax reforms in order to promote independence in financing the development. The
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 MoreCanada: The Budget implementation Bill 2021 receives Royal Assent
On 29 June 2021, the 2021 Budget Implementation Act (“Bill C-30”) received Royal Assent, which includes certain tax measures that were proposed in the 2021 Federal Budget, the 2020 Fall Economic Statement, and the 2019 Federal Budget. Bill
See MorePakistan enacts Budget for FY 2021-22
On 30 June 2021, the Finance Act 2021 was enacted after passage by Pakistani Parliament and assent of the president. The Federal Board of Revenue (FBR) of Pakistan has published the Finance Act 2021 on their official website. Some of the key
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