Turkey updates electronic ledger rules, filing deadlines
The Turkish Ministry of Treasury and Finance, alongside the Ministry of Trade, has issued a revised General Communiqué on Electronic Ledger (No. 5) on 8 November 2024, updating the previous regulations to enhance tax compliance. The new rules,
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Turkey consults on departure tax implementation
The Turkish government has initiated a public consultation on the implementation of departure tax regulated by Law No. 5597 on the Exit Fee and the Amendments to Various Laws, which was recently amended by Article 51 of Law No. 7524 on Amendments to
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Saudi Arabia approves tax treaty with Qatar
The Saudi Arabian Council of Ministers approved the ratification of the income tax treaty with Qatar on 5 November 2024. The treaty, which is a first of its kind between the two Gulf monarchies, aims to eliminate double taxation, prevention as
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UAE offers grace period for updating tax registration information
The Federal Tax Authority (FTA) of UAE announced that a new Decision has been issued to support businesses in efficiently meeting their tax obligations on 6 November 2024, offering a grace period for tax registrants who have fallen behind on
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UAE urges Resident Juridical Persons to register for corporate tax before end of November
The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in October and November, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 30 November
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Angola, Ukraine discuss potential tax treaty
Minister of Foreign Affairs of Ukraine Andrii Sybiha was received in Luanda by President of the Republic of Angola João Lourenço, to further the dialogue between the Angolan leader and President of Ukraine Volodymyr Zelenskyy on 25 October
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Turkey consultation on e-commerce tax withholding regulations
The Turkish Revenue Administration has launched a consultation on the draft Income Tax General Communique No. 329, on 4 November 2024, which addresses amendments to individual income and corporate tax as outlined in Law No. 7524/2024 related to
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Tajikistan, Kuwait sign amending protocol to tax treaty
Tajikistan and Kuwait have signed an amending protocol to revise the Kuwait-Tajikistan Income and Capital Tax Treaty (2013) on 3 November 2024. According to a press release from the Tajikistan's Ministry of Foreign Affairs , a signing ceremony
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South Africa seeks tax proposals for 2025 budget
South Africa's National Treasury extended an invitation until 25 November 2024 to submit technical tax proposals, which may be considered for inclusion in Annexure C of the 2025 Budget Review. The Minister of Finance announces new tax proposals
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Turkey: Ministry of Treasury and Finance clarifies inflation adjustment procedures
Turkey’s Ministry of Treasury and Finance has issued a Circular No. 176 on 1 November 2024 offering detailed explanations on the implementation of inflation adjustment procedures under the Tax Procedure Law (TPL). It addresses various issues
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Turkey extends tax debt restructuring instalments due to earthquake
Earlier, Turkey’s Revenue Administration released Presidential Decision No. 8515, adjusting instalment payments for tax debt restructuring under previous laws, which includes Law No. 7256 of 11 November 2020, and Law No. 7326 of 3 June 2021, in
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Kenya proposes new economic presence and minimum top-up taxes in Tax Laws Bill 2024
Kenya's National Assembly presented the Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024 on 1 November 2024. Both Tax Laws (Amendment) Bill 2024 along with the Tax Procedures (Amendment) (No.2) Bill 2024
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Israel announces 2025 state budget, increases VAT rate
Israel’s government passed the budget for 2025 on 1 November 2024. The 2025 budget includes various tax hikes, such as an increase in the standard VAT rate from 17% to 18% and spending cuts on most ministries. The Israeli Cabinet cited that tax
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Saudi Arabia, Slovenia to conclude tax treaty
During the recent Future Investment Initiative conference in Riyadh, held from 29 to 31 October 2024, officials from Saudi Arabia and Slovenia convened to discuss bilateral relations, including the potential establishment of an income tax
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Turkey raises rates on income from specific TRY deposits
The Turkish Revenue Administration has issued Presidential Decision No. 9075, extending and revising the withholding tax (WHT) rates on income from Turkish lira (TRY) deposit accounts. Initially set to expire on 31 October 2024, these rates will
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Turkey updates VAT implementation Communiqué
The Ministry of Treasury and Finance has released Communiqué No. 52 on Value Added Tax (VAT) on Thursday, 31 October 2024, which includes updates to the VAT General Implementation Communiqué. These amendments address multiple facets of VAT
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Saudi Arabia reveals criteria for 17th phase of e-invoicing
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has announced updated compliance criteria for the 17th group of businesses required to join the e-invoicing system as part of their broader effort to digitalise the tax system and increase VAT
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Kuwait, Macau initiate negotiations for tax agreement
An update from the General Consulate of Kuwait in Hong Kong and Macau on 14 October 2024 confirms that the first round of negotiations for a tax agreement between Kuwait and Macau has occurred in Macau. A tax treaty is a bilateral agreement
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