Oman ratifies tax treaty with Luxembourg
The Sultan of Oman issued a royal decree 64/2024 ratifying the income and capital tax treaty with Luxembourg on 18 December 2024. Earlier, Luxembourg and Oman have signed an income tax treaty on 17 October 2024. HE Sheikh Dr Abdullah bin Salem
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Kenya: KRA updates PAYE rules under Tax Laws (Amendment) Act 2024
The Kenya Revenue Authority has published a notice outlining changes to the PAYE computation following the enactment of the Tax Laws (Amendment) Act, 2024. The following changes shall be applicable in the computation of PAYE for December 2024 and
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Oman, Tanzania sign tax treaty
Oman and Tanzania have signed a tax treaty in Muscat on 15 December 2024. The agreement was signed by HE Nasser bin Khamis Al Jashmi, Chairman of Oman’s Tax Authority, and HE Dr. Mwigulu Lameck Nchemba, Tanzania’s Minister of Finance and
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Nigeria proposes new tax incentives for oil and gas industry
The Nigerian Oil and Gas Industry Content Development (NOGICD) Bill, 2023 has been presented before the National Assembly which introduces tax law changes and new incentives to promote Nigeria’s oil and gas sector. The key measures include a
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Egypt extends tax dispute resolution process
The Egyptian Parliament introduced Law No. 160 of 2024 on 3 December 2024, ensuring the continued operation of the Dispute Resolution Committee (DRC), which will process ongoing cases and accept new dispute applications until 30 June 2025. The
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Kenya enacts Tax Laws (Amendment) Bill, Tax Procedures (Amendment) (No.2) Bill 2024
Kenya’s President William Ruto has signed the Tax Laws (Amendment) Bill 2024 and the Tax Procedures (Amendment) Bill 2024 into law on 11 December 2024. Key provisions of the Tax Laws (Amendment) Bill 2024 and the Tax Procedures (Amendment) Bill
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Oman ratifies income tax treaty with Estonia
The Sultan of Oman issued a Royal Decree No 62/2024 for the ratification of the income tax treaty with Estonia on 10 December 2024. Earlier, Oman and Estonia signed the income tax treaty in Muscat on 27 October 2024. The agreement was signed
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UAE: Dubai to reintroduce 30% alcohol sales tax from January 2025
Dubai is reportedly planning to reintroduce a 30% alcohol sales tax effective 1 January 2025, reversing a policy that suspended the tax in 2023 to boost tourism. The announcement, communicated by major alcohol distributors MMI and African+
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Cyprus, Oman signs income tax treaty
Oman’s government has announced on 8 December 2024 that it signed an income tax treaty with Cyprus. The agreement was signed on behalf of the Government of Oman by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, while it was signed on
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Zambia proposes new tax measures in 2025 budget draft
Zambia's Ministry of Finance and National Planning have introduced new tax measures in the draft 2025 Budget. The proposed tax changes include limiting the offset of carried-forward losses to 50% of taxable income across all sectors, a reduction
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UAE: Dubai publishes guidance for foreign bank tax
Dubai has released Administrative Decree No. 107 of 2024, detailing the application of a 20% annual tax on foreign banks' taxable income. The tax applies to all foreign banks operating in Dubai, including those in special development and free
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Saudi Arabia signs tax treaty with Croatia, Kuwait, customs mutual agreement with Kosovo
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
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Nigeria: FIRS publishes guidance on advance pricing agreements
Nigeria’s Federal Inland Revenue Service (FIRS) has released detailed guidelines on Advance Pricing Agreements (APAs), providing a framework for companies to establish transfer pricing agreements with tax authorities in advance. Businesses
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Kuwait to introduce 15% corporate tax from January 2025
Kuwait's Ministry of Finance is deciding on a draft law that will impose a 15% corporate income tax on all companies operating in the country, effective 1 January 2025. This tax will apply to both local and multinational companies, with the
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UAE to introduce Pillar Two minimum tax rules, tax incentives from January 2025
The UAE Ministry of Finance has announced that it has updated certain provisions of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses on 9 December 2024. These amendments include introduction of a Domestic Minimum
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Bahrain: Council of Representatives approve tax treaty with UAE
The Bahrain Council of Representatives approved the ratification of the income tax treaty with the United Arab Emirates (UAE) on 3 December 2024. Bahrain's ratification of the two agreements on income taxes and the prevention of tax evasion and
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Turkey updates clarification on mutual agreement procedure for double taxation
Turkey's Revenue Administration has issued an updated Guideline on the Mutual Agreement Procedure (MAP) for the elimination of double taxation agreements, effective for requests made from 1 January 2022. The guideline is available in both Turkish
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UAE: Corporate tax registration deadline for juridical persons with licences issued in December set for before end of 2024
The UAE Federal Tax Authority (FTA) has announced that all Resident Juridical Persons with licenses issued in December, regardless of the year of issuance, must submit their Corporate Tax registration applications by 31 December 2024. In a press
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