Nigeria: Finance Bill 2019 passes second reading in parliament
On 6 November 2019, the Finance Bill 2019 passed its second reading at the Senate. Main proposed amendments are given below: A lower (i.e. 20%) corporate income tax rate (CIT) applies for companies with turnover between NGN25-million and
See MoreDominican Republic: Executive Branch submits 2020 draft budget bill to the National Congress
On 1st October 2019, the Executive Branch sent 2020 draft budget bill to the National Congress the 2020 draft budget bill for its knowledge, discussion and approval. The bill proposes measures to extend the rules on interest deduction and
See MoreTurkey: Government submits draft law on tax regulation to the Parliament
On 24 October 2019, the Turkish Government submitted a new draft law to the Parliament, which proposes regulations on the tax system. The draft law introduces new taxes, namely digital services tax (DST), valuable house tax and accommodation tax.
See MoreFrance: Public Finance publishes draft guidance on DST for consultation
The General Directorate of Public Finance has published draft guidance regarding the new digital services tax (DST) for public consultation. The new Law No. 2019-759 of 24 July 2019, has been published on July 25, 2019, in the Official
See MoreAlgeria: Council of Ministers approves Finance Bill for 2020
On 13 October 2019, the Council of Ministers approved the draft Finance Bill for 2020, which has been sent to parliament for approval. This draft includes tax incentives like profit tax and VAT exemptions for start-ups corporations and for new high
See MoreCzech Republic: Parliament debates proposed changes to Income Taxes Act
The Chamber of Deputies debate with some changes to the Income Taxes Act, which may come into force in 2020. The measures must be approved by the Chamber and the Senate and signed by the president before coming into force. The provisions of the
See MoreRussia proposes Tax Policy for 2020 to 2022
On 30 September 2019, the Russian Government submitted the Draft Law to the State Duma. The draft law includes the following measures: The bill aims to change the approach to taxing companies in the digital sector. The draft law recommend that
See MoreIreland: Finance Minister announces Finance bill for the year 2020
On 16 October 2019, the Finance Minister, Paschal Donohoe TD, announced Cabinet approval for the publication of the Finance Bill 2019. It was published on 17 October 2019. The Bill sets out the legislative provisions to bring effect to the tax
See MoreIreland: Govt. announces draft budget 2020
On 8 October 2019, Govt. announced draft Budget 2020. This draft Budget introduced some amendments in respect of corporate income tax, transfer pricing, dividend withholding tax, personal income tax, small and medium enterprises (SMEs),
See MoreSlovak Republic: President signs the law to update Income Tax Act
On 1 October 2019, Ms. Zuzana Čaputová, the President of Slovak Republic signed the law introducing updates to the Income Tax Act. On 29 May 2019, the Slovak government approved draft law to update the Income Tax Act. The draft law proposes the
See MoreChile: President presents 2020 draft Budget
The President, Sebastian Pinera, announced draft budget for the year 2020. He said that they have passed a very crucial economic time due to the low copper prices and the trade war between China and the United States. The draft budget covers
See MoreNigeria: President presents Budget proposal for 2020
On October 8, 2019, the president, Muhammadu Buhari, presented the draft budget for the year 2020. President Muhammadu Buhari arrives the green chambers of the National Assembly where the joint session of holding to receive the 2020 appropriation
See MoreGreece: Finance Minister presents draft budget for the year 2020
The Finance Minister, Christos Staikouras, presented draft Budget for the year 2020 to the Parliament on 7 October 2019. It proposes discretionary tax measures declared by the Prime Minister such as reduction in corporate tax rate, reduction in the
See MoreArgentina: AFIP announces draft transfer pricing guidance for public comments
On 2 October 2019, tax authority of Argentina (AFIP) announced a public consultation and posted on the AFIP website a draft resolution concerning transfer pricing compliance procedures. It would replace the existing transfer pricing rules in
See MoreAlgeria: Tax agency declares draft Budget 2020
On 29 September 2019, the General Directorate of Taxes announced the draft Budget 2020, which includes measures to implement incentives for high-technology and innovative start-ups, VAT exemptions, to prevent VAT fraud.
See MoreFrance: Government presents draft Finance Bill 2020
On 27 September 2019, Government presents Finance Bill for the year 2020 and confirms the willingness to cut the income tax rate for corporate entities; to introduce the hybrid mismatch rules; to implement the EU ATAD 2 directive into domestic law;
See MoreGreece: Prime Minister announces tax cuts and promised reform
On 12 September 2019, the Prime Minister has made an announcement of their confirmation to introduce tax rate cuts and other planned tax measures at the opening of the annual International Trade Fair of Thessaloniki. According to plan, corporate
See MoreIreland: Finance Ministry issues Budget 2020 strategy
On 11 September 2019, the Minister for Finance and Public Expenditure and Reform issued Budget 2020 strategy. It will be delivered at a time of unprecedented uncertainty but it will be delivered from a position of
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