Italy- Senate approved the draft Budget Law for 2017
The draft Budget Law for 2017 was approved by the senate on 7 December 2016. As per the approved draft Budget Law for 2017, the corporate income tax rate will be decreased to 24% from 2017. More details will be provided upon publication of the
See MoreJersey: Budget for 2017 has been approved
The budget for the year 2017 has been approved by the States Assembly or the parliament of Jersey on 14th December 2016. The draft budget had been presented by the Treasury and Resources Minister on 18th October
See MorePortugal-Parliament approved Budget for 2017
The parliament of Portugal approved the Budget for 2017 on 29 November 2016. The approved Budget introduces a new sugar tax on soft drinks. If certain conditions are satisfied then countries that are not blacklisted will be able to have a more
See MoreNigeria: Budget 2017 has been presented to the parliament
The President of Nigeria has presented the budget 2017 on 14th December 2016 to a joint session of the National Assembly. The Budget includes the following proposals: reviving the export expansion grant scheme due to the tax credit’s provision
See MoreJapan: Government outlined its 2017 tax reform plan
The government released its 2017 tax reform plan on 8 December 2016. A tax reform bill will be prepared based on the Outline. The Bill will be submitted to the Diet and is expected to be enacted by the end of March 2017. According to the plan, the
See MoreMozambique: Budget 2017 has been presented to parliament
The Economic and Social Plan and the 2017 Budget has been submitted to the parliament on 6th December 2016 for discussion. It is expected that an annual economic growth rate will be 5.5% in
See MoreAzerbaijan-Budget Bill for 2017 submitted to parliament
Azerbaijan’s Budget Bill for 2017 had been submitted to the parliament on 15 November 2015. The Bill specifies various measures on tax, customs and social security to be taken in 2017. According to the plans stipulated on the Budget Bill, the
See MoreLatvia: Tax provisions in Budget 2017
The Latvian lawmakers passed Latvia’s 2017 budget on 24 November 2016. The main measures concerning corporate taxation are summarized below. At present, losses incurred in taxable periods from 2008 on wards may be carried forward indefinitely.
See MoreCyprus: Parliament approved budget for 2017
Cyprus' parliament has approved the state budget for 2017 with 28 votes in favour and 25 against on 7 December 2016. The budget provides for revenues estimated to reach EUR 6.96 billion, up 1.1% from the previous year, and EUR 7.06 billion in
See MoreGreece: Budget 2017 has been passed
The final draft Budget 2017 has been voted and passed on 10th December 2016 and it was submitted to the parliament on 21st November 2016. Note that, the draft Budget 2017 does not contain new tax
See MoreAngola: National assembly approved the budget bill 2017
The National Assembly approved the Budget Bill 2017 on 17 November, 2016. Angola’s parliament is scheduled on 14 December for a final vote on the draft State Budget Law for 2017 and it will be effective as from 1 January
See MoreMalaysia: Budget for 2017
The Malaysian Prime Minister announced Malaysia’s 2017 budget on 21 October 2016 highlighting some tax measures including corporate and personal income taxation changes. Highlighting proposals include important changes to the withholding tax
See MoreNetherlands: Lower house the parliament accepts the Tax Plan for 2017
The Tax Plan for 2017 was presented by the Minister of Finance to the lower house of the parliament and the parliament has adopted the Tax Plan on 17 November 2016. The lower house approved the following amendments: The energy investment reduction
See MoreLatvia: Parliament passed the state budget for 2017
The Latvian lawmakers passed Latvia's 2017 budget on 24 November 2016, in the final reading by 59 votes of the coalition lawmakers to 36 opposition voted. Latvia's government coalition has described next year's budget as the "budget of kept
See MoreGreece: Final draft Budget 2017 submitted to parliament
The final draft budget for 2017 has been submitted to the parliament by the Deputy Finance Minister on 21st November 2016. It is available in Greek language. It is estimated to be passed on 10th December 2016. The proposal of draft Budget for 2017
See MoreSri Lanka: Budget proposal 2017
On 10 November 2016, The Budget 2017 was presented to Parliament by the Minister of Finance Ravi Karunanayake. The main measures concerning corporate taxation are summarized below. Unless stated otherwise, the changes will take effect from 1 April
See MoreIsrael: Draft Budget Plan 2017/2018 presented
The draft budget plan for the year 2017/2018 has been presented on 31st October 2016 by the Finance Ministry. The Draft offers a decrease in the corporate income tax rate from 25% to 24% in 2017 and 23% in
See MorePoland: Parliament adopts budget Law for 2017
The Council of Ministers presented to the parliament a draft Budget Law for 2017 on 30 September 2016. All along with the introduction of tax changes, different numbers of factors that have into force on budget revenues are envisaged. Corporate
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