Bangladesh: NBR exempts import duty and taxes on emergency medical items
On 22 March 2020, the National Board of Revenue (NBR) issued an SRO and declared that the government has waived the import duty and taxes on 12 medical items in response to Covid-19 pandemic. It waived the full import duty, regulatory duty,
See MoreChina introduces additional tax relief measures to tackle Coronavirus epidemic
China has declared additional tax relief measures due to Coronavirus epidemic. These measures are following: An exemption from consumption tax, VAT and import duties on imported of goods and equipment donated for Coronavirus
See MoreAlgeria: President seals Finance Act 2020
The president of Algeria, Abdelkader Bensalah, signed the Finance Act 2020 into Law, on 11 December 2019, during a Council of Ministers he chaired. The Law includes tax incentives like profit tax and VAT exemptions for start-ups corporations and
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 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 MoreGreece: Law 4549/2018 publishes in official gazette
The Law 4549/2018, Provisions for the Completion of the Agreement on Budgetary Targets and Structural Reforms - Medium Term Financial Framework 2019-2022 and other provisions, was published in the Government Gazette with the prerequisites of the
See MoreTanzania: Finance Minister presented 2018-19 Budget
Tanzania: Finance Minister presented 2018-19 Budget 19 June 2018 The Minister of Finance and Planning, Hon. Dr. Philip I. Mpango, presented the 2018/19 Budget on June 14, 2018 to the national assembly. Some key points of the budget are given
See MoreJersey: Ministry of Treasury presents 2018 Budget to the States Assembly
The Minister for Treasury and Resources, Alan Maclean, has presented the Finance Budget Law 2018 and it will be effective from May 4, 2018. The Government had published the Draft Budget 2018 on October 3, 2017. The measures generally applicable as
See MoreAustria: MOF publishes a draft bill for 2018
On 9 April 2018, the Ministry of Finance (MOF) provided a draft bill for an Annual Tax Act 2018 and submitted it for final consideration. With this draft, the EU Anti-Tax Avoidance Directive (ATAD) will be implemented in Austrian domestic law and in
See MoreTurkey: Law 7103 publishes with various tax measures
The new legislative package, or Law No. 7103 has been published on March 27, 2018 in the official gazette, which provides for several investment incentives in support of employment, research & development as well as manufacturing. It was
See MoreUK: Research on knowledge and use of VAT partial exemption
HMRC commissioned a telephone survey of almost two thousand VAT registered businesses representing 17 different industry sectors. The aim was to explore their knowledge and use of VAT partial exemption and to gain information on rates of VAT
See MoreChina: Tax benefits to boost small businesses
On 6 November 2017, according to a joint announcement by the Ministry of Finance and the State Administration of Taxation, tax incentives will be expanded in China to reduce costs for agriculture-related and small-scale businesses, encouraging bank
See MoreMalaysia: Prime Minister announces the Budget for 2018
On October 27, 2017, Malaysian Prime Minister Najib Razak presented the budget for 2018, outlining government plans to combat rising costs and limit the country's fiscal deficit. Some of the key fiscal tax measures are summarized as follows: Tax
See MoreKazakhstan: New Tax Code submits to Parliament
The First Vice-Minister of National Economy, Ruslan Dalenov, submitted the draft of the new tax code to the finance and budget committee of the lower house of the Kazakh parliament (the Mazhilis) on September 21, 2017 for consideration. It was
See MoreTurkey: Law No. 6824 introduces income tax and VAT relief
On 8th March 2017 Law No. 6824 on the restructuring of certain public claims and the amendment of certain laws and cabinet regulations was published in the official gazette. The Law changes both the Income Tax and VAT Laws, introducing a new income
See MoreTurkey: Tax amendments gazetted
The Law No. 6824 was published in the official gazette on 8th March 2017 that amend a number of laws. Under the Law, a compliant taxpayer is defined as a taxpayer not having tax debts or not including tax penalties over the amount of TRY 1,000. The
See MoreTurkey: Decree 2012/3305 on investment incentives regime amended
A Decree 2017/9917 regarding the investment incentives regime, which amends Decree 2012/3305, was published on 22nd February 2017 in the official gazette. This decree entered into force on the day of its publication. According to the amended
See MoreMozambique: Parliament approves new VAT Code
Some modifications have been occurred to the Value Added Tax (VAT) Code by using Law No. 13/2016 and those changes are approved by the Parliament of Mozambique. These changes are applied to facilitate implementation of net VAT system. The new system
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