Turkey: General Communiqué No. 3 regarding APAs publishes in the official gazette
The General Communiqué No. 3 regarding application process of Advance Pricing Agreements (APAs) was published on December 7, 2017 in the official gazette. It was entered into force on the similar day of its publication in the official gazette. The
See MoreTurkey: New digital VAT system update
The tax administration has brought some clarifications regarding the implementation of the new rules, via the VAT Communiqué no.17, published in the Official Gazette on January 31, 2018. This VAT Application Communiqué 17 had been published in
See MoreMorocco: Council of Ministers approve DTA with Zambia
On January 22, 2018, the Council of Ministers of Morocco has approved the income tax treaty with Zambia. The treaty provides for the avoidance of double taxation and the allocation of taxing rights over various categories of income. It was signed on
See MoreSouth Africa: SARS issues draft guide on understatement penalties for public comment
On the 22 January 2018, the South African Revenue Service (SARS) released a draft guide on understatement penalties for public comment by 12 February 2018. The aim of the guide is to provide taxpayers with an understanding of understatement
See MoreSouth Africa: National Treasury issues 2nd draft of the carbon tax bill for public comment
On 14 December 2017, the National Treasury was published the 2nd draft of the Carbon Tax Bill for public comment and presented in Parliament. The version of the second draft law is generally follows the first version (published in 2015) but reflects
See MoreNigeria: House of Representatives passes Petroleum Industry Governance Bill
The House of Representatives of Nigeria has passed the Petroleum Industry Governance Bill (PIGB) 2017 on January 17, 2018. The PIGB now awaits harmonization by the two Legislative Houses and the assent of the President before it is signed into law.
See MoreMozambique: Council of Ministers approves first transfer pricing regulations
On December 6, 2017, the Council of Ministers has approved the first Transfer Pricing (TP) Regulations by Decree 70/2017. The Decree became in force on or after the January 1, 2018. According to Decree, one company is considered to be related to
See MoreBahrain: Cabinet approves tax treaty with Egypt
The Bahrain Cabinet has approved the law for the ratification of the new income tax treaty on 22th January 2018, with Egypt for the avoidance of double taxation. The treaty was signed 26 April 2016, will enter into force after the ratification
See MoreUAE: Cabinet approves DTA with Croatia
The Cabinet of United Arab Emirates has approved the income tax agreement on January 7, 2018, with Croatia for the avoidance of double taxation and the prevention of fiscal
See MoreUAE: Cabinet approves DTA with Moldova
The Cabinet of United Arab Emirates has approved the income tax agreement on January 7, 2018, with Moldova for the avoidance of double taxation and the prevention of fiscal
See MoreDTA between Armenia and Germany entered into force
On 23 November 2017, the income and capital tax treaty between Armenia and German entered into force after the completion of ratification procedures on both sides. The agreement was signed on 29 June 2016. The treaty provides for withholding tax on
See MoreNigeria: Government signs CbCR Regulations 2018 to follow-up MCAA
The Federal Government has signed the Income Tax Regulations or Country-by-Country Reports (CbCR), 2018. The Regulations are part of the implementation plans under Action 13 of OECD’s Base Erosion and Profit Shifting (BEPS) project. This is also
See MoreAngola: Parliament approves draft law on tax and foreign exchange compliance
Recently, Parliament approved a bill on the extraordinary tax and foreign exchange regime that regulates the repatriation of assets held abroad that were not declared in Angola in December 2017. All Angolan nationals residing in the country and
See MoreGhana: Government passed the Tax Amnesty Bill 2017
On 22 December 2017, the Parliament has passed the Tax Amnesty Bill 2017 for a period of eight months. The Bill, passed under a certificate of urgency has eight clauses, among which are amnesty for taxes, penalties and interests, and prohibits the
See MoreAngola: Parliament approves 2018 State Budget
On 18 January 2018, the Parliament approved the State Budget for 2018. As part of the budget proposal, introducing a mechanism for the settlement of, by means of withholding, on purchases of goods from small businesses by companies that have
See MoreSenegal approves tax treaty agreement with Luxembourg
The Senegalese Council of Ministers approved the pending income and capital tax agreement with Luxembourg on 17 January 2018. The treaty was signed on 10 February 2016. Luxembourg ratified the agreement on 23 December 2016. It will enter into force
See MoreSouth Africa: SARS extends deadline for filing of Country-by-Country reports
On 8 December 2017, the South African Revenue Service (SARS) announced that it extended the Country-by-Country report, master file and local file reporting deadline to 28 February 2018 for taxpayers with an existing reporting obligation in December
See MoreQatar: DTA with Spain will enter into force on February 6, 2018
The Double Taxation Agreement will be entered into force on February 6, 2018, between Qatar and Spain for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. It will be applicable from January 1,
See More