Bangladesh: National Budget for FY 2020-21
On 11 June 2020, Mr. AHM Mustafa Kamal, the Finance Minister of Bangladesh has presented the national budget of Tk. 568,000 crore with an ambitious target of 8.2 percent GDP growth for the FY 2020-21 in Parliament. The revenue collection
See MoreCzech Republic: Finance Ministry announces liberation package III due to COVID-19 pandemic
On 9 June 2020, the Ministry of Finance announced on its website that the so-called next liberation package III has been approved to extend and extend certain tax exemptions, tax accessories and administrative fees due to an emergency caused by
See MoreDenmark: Government proposes to extend the payment deadline of wage tax and VAT
On 28 May 2020, the Ministry of Taxation issued a release where the Government and the economic group proposed to extend the payment deadlines for wage tax, labor market contributions, and VAT. With the proposal, Danish companies can look
See MoreOECD: Revenue Statistics in Latin America and the Caribbean 2020
Revenue Statistics in Latin America and the Caribbean 2020 was published om 7 May 2020 and covers 26 countries in the region. The publication is prepared jointly by the OECD’s Centre for Policy and Tax Administration, the OECD Development Centre,
See MoreColombia: Measures regarding indirect tax in response to COVID-19 pandemic
On 21 May 2020, the Colombian Ministry of Finance and Public Credit has published Decree 682 through which it establishes some measures on the consumption tax in the sale of food and beverages, as well as on the sales tax on the leasing of
See MoreUkraine: Parliament adopts law on tax benefits and the moratorium on tax audit
On 28 May 2020, the Ukrainian Parliament has published Law No. 591-IX “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on Additional Support to Taxpayers for the Period of Measures to Prevent the Occurrence and Spread of
See MoreAustria: Government announces tax measures regarding VAT payment & penalty scheme
The Government announced some tax relief measures in response to coronavirus pandemic on different date regarding VAT. These are: Announcement on 29 May 2020 The interest for VAT declarations not submitted on time, will not be automatically
See MoreEthiopia: Council of Ministers adopts economic measures due to COVID-19 pandemic
On 26 April 2020, the Council of Ministers of Ethiopia has adopted a number of economic measures in response to coronavirus outbreak. Following the decision of the Council of Ministers, the Ministry of Finance has issued Directive No.64/2020
See MoreFrance: Government announces to extend VAT refund deadline until 30 September 2020
On 18 May 2020, Government announced that taxable persons not carrying out tax operations and established outside EU may request reimbursement of the VAT they have incurred there, under certain conditions. Also, Government announced to extend the
See MoreAlgeria: Council of Ministers organizes a meeting regarding draft Finance Bill 2020
On 10 May 2020, the Council of Ministers arranged a meeting by video conference regarding the discussion and approval of draft Finance Bill 2020. In that meeting, following issues were coming up: The deadline extension of the 50% reduction in
See MoreNigeria: FIRS issues several Circulars on provisions of tax laws amended by Finance Act 2019
On 9 May 2020, the Federal Internal Revenue Service (FIRS) issued the following Information Circulars numbered through 2020/02 – 08. The Circulars provides guidance to stakeholders regarding the interpretation of the amendments to extant tax laws
See MoreSaudi Arabia: Government hikes VAT to 15% as of July 2020
On 10 May 2020, the Saudi Arabia Government has decided to raise value-added tax (VAT) from 5% to 15% on all goods and services as of July 2020. The government will also suspend the cost of living allowance from June as part of the austerity steps.
See MoreBulgaria: Government announced several tax relief measures regarding VAT exemption
The Government has taken some tax relief measures regarding Value Added Tax (VAT). These are: On 4 May 2020, a draft Bill was submitted in the Bulgarian Parliament for introducing a 9% reduced VAT rate from 20% rate to support the
See MoreEgypt extends deadline submitting the electronic VAT return amid COVID-19
On 29 April 2020, the Egyptian Tax Authority has announced that the date for submitting the electronic value-added tax (VAT) return for February 2020 has been extended until 10 May 2020 in response to COVID-19
See MoreCOVID-19: Mozambique announces tax relief measures due to coronavirus
The Council of Ministers Mozambique approved the Decree No. 23/2020, of 27 April which includes a number of fiscal and customs measures in response to coronavirus pandemic. The Decree contains the following measures that are valid until 31
See MoreNigeria: FIRS announces new measures for coronavirus impact
The Federal Inland Revenue Service (FIRS) made some announcement of tax measures during COVID-19 outbreak: On 30 April 2020, the FIRS published a Public Notice, which provides that no interest and penalties will be charged to taxpayers having
See MoreCanada: CRA announces some tax relief measures during COVID-19 pandemic
The Canada Revenue Agency (CRA) has recently announced few tax relief measures. These includes: On 21 April 2020, the CRA launched general guidance concerning the Canada Emergency Wage Subsidy (CEWS) and a calculator for determining the subsidy
See MoreSouth Africa: National Treasury announces additional VAT relief for COVID-19
On 23 April 2020, the National Treasury issued a statement regarding value added tax (VAT) relief measures due to coronavirus pandemic. This includes: Implement a VAT refund tracking procedure by the help of smaller VAT vendors, which
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