Azerbaijan has approved several amendments to the Azerbaijan Tax Code on 27 December 2024. Key amendments include a reduction of branch profit tax rate, new corporate income tax exemptions, and revised transfer pricing penalties. Reduction of

Saudi Arabia's Shura Council has approved the income tax treaty with Iceland on 13 January 2025. This follows after officials from Saudi Arabia and Iceland convened in Riyadh to sign an income tax treaty on 4 December 2024. The agreement aims to

The Saudi Zakat, Tax and Customs Authority (ZATCA) announced the Minister of Finance’s decision of the extension of the Cancellation of Fines and Exemption of Financial Penalties Initiative for taxpayers subject to all tax laws for six months

The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has announced the eligibility criteria for Group 19 taxpayers in the integration phase of e-invoicing on 27 December 2024. The 19th phase will include all taxpayers whose revenues

Minister of Finance and Chairman of the Board of Directors of the Zakat, Tax and Customs Authority (ZATCA) Mohammed Al-Jadaan signed a series of significant agreements aimed at strengthening tax and customs cooperation with multiple countries during

Azerbaijan has proposed changes to the Tax Code on penalties for tax non-compliance and country-by-country (CbC) reporting. The penalty for failing to submit requested documents and information to the tax authorities within 60 days will be