OECD: VAT Digital Toolkit for Africa
On 15 February 2023 the OECD published the VAT Digital Toolkit for Africa. In most African countries value added tax (VAT) is a major revenue source that brings in more than one quarter of total tax revenues on average. In 2020, VAT revenues in
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UK: Experience with HMRC’s Digital Services
On 26 January 2023 HMRC published the results of research with tax agents to explore their experiences of HMRC's digital services HMRC commissioned research to give them more insight into different business models used by agents, the nature of
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IMF Report and Press Briefing Assess the Economy of Saudi Arabia
On 17 August 2022, the IMF published a report following consultations with Saudi Arabia under Article IV of the IMF’s articles of agreement. A press conference was also held to discuss the assessment of the Saudi economy. Saudi Arabia has been
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Australia: GST treatment of financial supplies
On 10 August 2022 the ATO opened a consultation on a draft update to Taxation Ruling No. GSTR 2002/2DC1, on the GST treatment of financial supplies and related activities. The draft update to the ruling incorporates changes in the GST law such as
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UK: Survey of Awareness of Making Tax Digital
On 9 June 2022 HMRC published the results of a survey they commissioned to look at business awareness of Making Tax Digital (MTD). The research focused on VAT registered businesses that are below the threshold for VAT registration. MTD
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IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
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OECD: Revenue Statistics in Latin America and the Caribbean
On 27 April 2022 the OECD released the publication Revenue Statistics in Latin America and the Caribbean 2022. This annual overview of the region contains internationally comparable data on tax levels and structures for 27 countries in the Latin
See MoreUN: Meetings of the Tax Committee
The 24th session of the UN Committee of Experts on International Cooperation in Taxation was held in virtual meetings from 4 to 7 April and 11 to 12 April 2022. Workplans were presented by the various Subcommittees for approval by the
See MoreOECD: VAT Digital Toolkit for Asia-Pacific
On 10 March 2022 the OECD published the VAT Digital Toolkit for Asia-Pacific. The Toolkit, which was produced by the OECD in partnership with the World Bank Group, aims to guide Asia-Pacific tax administrations on implementing reforms for
See MoreWorld Bank: Economic Update on Papua New Guinea Recommends Tax Changes
On 4 March 2022 the World Bank published an economic update on Papua New Guinea recommending changes in tax policy and administration to improve revenue collection. The report notes that tax collection has been in decline, and this has been made
See MoreOECD: Taxation of Development Projects
On 11 February 2022 a blog by the Director of the OECD Centre for Policy Administration and the Director of the OECD Development Cooperation Directorate looked at the taxation of projects financed by foreign aid. Developing countries have
See MoreWorld Bank Economic Memorandum on Albania
On 11 February 2022 the World Bank published a document entitled: Albania Country Economic Memorandum: Strengthening the Sustainability of Albania’s Growth Model. The document looks at Albania’s economic challenges, examines progress with
See MoreKazakhstan: President signed the legislation to amend the tax Law
Recently, the President signed legislation to make changes to the tax law. Most of the changes effect from 1 January 2022. Some of the amendments are given below: The amendments introduce rules regulating the procedures for the control of the
See MoreNigeria: President signs Finance Bill 2021 into Law
On 31 December 2021, the President, Muhammadu Buhari, signed the Finance Bill 2021 into Law at an event at the state house. The Act introduces various changes to 12 different laws in Nigeria. On 21 December 2021, Senate passed this Finance Bill
See MoreIMF: Report Examines the Economy of Mozambique
On 21 December 2021 the IMF issued a report following discussions with Mozambique under Article IV of the IMF’s articles of agreement. The report notes that Mozambique needs to take decisive policy action to ensure that its debts are
See MoreFrance: Government Officially publishes Finance Act 2022
On 31 December 2021, Government Officially published Finance Law for the year 2022. On 22 September 2021, the Minister of Economy, Finance and Recovery, Bruno Le Maire and the Minister Delegate in charge of Public Accounts, Olivier Dussopt,
See MoreUK: Summary of responses to consultation on VAT exemption for land
On 30 November 2021 the UK government published a summary of responses to the consultation on aspects of the VAT exemption for land and the option to tax. A consultation paper in May 2021, asked for evidence to assess potential options for
See MoreUK: Small Business Attitudes to Tax Compliance and Administration
On 11 November 2021 HMRC published on its website a research report entitled Qualitative research with small businesses to explore their perceptions of tax administration burden. The paper is based on research conducted by telephone conversations
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