Botswana: Finance Minister presents Budget for 2021 to the National Assembly
On 1 February 2021, Dr. Thapelo Matsheka, Botswana’s Minister of Finance and Economic Development has presented National Budget for the fiscal year 2021 to the National Assembly. The Budget contains a number of important tax measures. The key
See MoreOECD: Tax and Development Briefings
On 29 January 2021, to mark the annual Tax and Development Day, the OECD hosted a series of briefings in relation to tax and development, looking at OECD work in the area. BEPS and the extractive industries For decades many resource-rich
See MoreGreece: Parliament considers a Bill to extend tax return filing deadline
On 26 January 2021, the Parliament considered a Bill to extend the filing deadlines for the 2019 income tax returns of foreign tax residents up to 30 June 2021 instead of 26 February 2021 due to COVID-19 pandemic. The Bill proposed to extend the
See MoreIMF Report Looks at Economic Developments in Germany
On 19 January 2021 the IMF issued a report following the conclusion of its consultations with Germany under Article IV of the IMF’s articles of agreement. As a result of the COVID-19 pandemic and the domestic containment measures Germany’s
See MoreNigeria: President signs the Finance Bill 2020 into Law
On 31 December 2020, the President, Muhammad Buhari, signed the Finance Bill 2020 and made it into law, which introduces significant changes to a number of tax and regulatory laws in Nigeria including the introduction of COVID-19 incentives
See MoreIreland: President signs the Finance Bill 2020 into Law
On 19 December 2020, the President signed the Finance Bill 2020 into Law, which underpins the Government’s support for the economy in the face of Covid-19 pandemic and the ongoing threat of a no-deal Brexit. The Finance Act 2020 provisions
See MoreFrance: Government publishes Finance Law for 2021
On 30 December 2020, the Government Officially published Finance Law for the year 2021. On 17 December 2020, the French Parliament approved the Finance Bill for 2021. The Act includes: Corporate Income Tax In the context of the Covid-19
See MoreMongolia: Parliament approves State Budget Law for 2021
The State Budget Bill for the fiscal year of 2021 was adopted at the State Great Khural’s plenary session of 13 November 2020 along with its appropriation bills. On 25 November 2020, the President of Mongolia, Battulga, refused 2021 State Budget
See MoreCroatia: Government publishes Tax Reform Law 2021
On 11 December 2020, the Government published Tax Reform Law for the year 2021, which includes Law on Amendments to the Income Tax Law, the Law on Amendments to the Corporate Tax Law, and the Law on Amendments to the Value Added Tax Law. The Tax
See MoreArgentina: Government publishes Budget Law for 2021
On 14 December 2020, the Government Officially published Law 27591 of 14 December 2020, including budget measures for 2021 to Congress amid continuing pandemic and political uncertainties. The measures are given below: The VAT and customs duties
See MoreAustria: Parliament approves winter package due to COVID-19 pandemic
On 17 December 2020, the Parliament approved the COVID-19 Tax Measures Act. Recently, the Ministry of Finance has announced the draft winter package on tax measures for the coronavirus outbreak. The package includes the measures to introduce the
See MoreArgentina: AFIP delays effective date of SIRE system for VAT withholding purpose
On 26 November 2020, the Federal Administration of Public Revenue (AFIP) published a General Resolution 4864/2020 of 26 November 2020 to extend the effective date of mandatory use of SIRE in case of VAT withholding purposes until 1 March 2021.
See MoreUK: Preliminary Estimate of VAT Gap for 2019/20
On 25 November 2020 HMRC published the preliminary estimate of the value added tax (VAT) gap for 2019/20. The VAT gap indicates the VAT lost for various reasons and is measured as the difference between the amount of VAT actually collected and
See MoreHungary: Parliament approves a bill abolishing the development tax reserve
On 17 November 2020, the parliament approved a bill introducing amendments to the corporate income tax. The bill includes the following tax measures: The small business tax rate will be reduced from 12% to 11% effective from 1 January 2021. In
See MoreGreece: The AADE extends customs and VAT exemption regarding imported goods
On 2 November 2020, the Greek Public Revenue Authority (AADE) published Circular E. 2179 of 2 November 2020 regarding the customs duty and VAT exemption on the import of personal protective equipment, respirators, disinfectants, and other medical
See MoreCroatia: Government presents four tax reform Bills to Parliament
On 12 November 2020, the Croatian Parliament announced that the Government sent four tax reform Bills, which provide changes in corporate income tax, personal income tax, and value added tax (VAT). Some of the changes including the Bills are given
See MoreIreland: Finance Minister publishes Finance Bill 2020
On 22 October 2020, the Finance Minister, Paschal Donohoe TD, published Finance Bill 2020 following Cabinet approval at the Government meeting. The Bill underpins the Government’s support for the economy in the face of Covid-19 pandemic and the
See MoreCzech Republic: Finance Ministry declares the extension of COVID-19 tax relief
On 14 October 2020, the Finance Ministry announced that a large liberation packages are extended in response to coronavirus pandemic. The package includes delay of tax payments by companies whose primary activity falls into an area targeted by the
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