DTA between Oman and Portugal signed
On 27 April 2015 Oman and Portugal signed an income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. No further details are currently
See MoreTurkey: Draft guidance on APA applications
The Turkish revenue administration released draft guidance in early April 2015 on advance pricing agreements (APAs). The guidance sets out the information that may be requested by the tax authorities in order to review APA applications. In
See MoreNigeria: Budget proposal 2015 passed by parliament
The parliament has passed 2015 Budget proposal on 28th April 2015. There was a proposal in Budget to raise VAT rate but the rate is still 5%. Future information on this topic will be reported
See MoreDTA between Ireland and Zambia signed
The income tax treaty between Ireland and Zambia was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Lusaka on 31 March 2015. Once in force and effective, the new treaty will
See MoreGhana: IMF supports fiscal reforms
The IMF has approved a USD918 million loan in support of Ghana’s economic reform program. Ghana is described as one of Africa’s frontier emerging markets, with a trade in commodities that allowed it to weather the storms resulting from the
See MoreTurkey: General Communique on corporate tax exemption released
The General Communique No. 8 regarding Corporate Income Tax has been published in the Official Gazette on 21st April 2015 and it changes General Communique No. 1 on Corporate Income Tax. This also gives information desired for the implementation of
See MoreDTA between Malawi and Netherlands signed
Malawi and the Netherlands signed a income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income on 19 April
See MoreKyrgyzstan ratified the DTA with Qatar
The President of Kyrgyzstan signed a law ratifying the income tax treaty with Qatar on 14 April 2015. The law was adopted by the Kyrgyzstan parliament on 12 March
See MoreQatar ratified the DTA with Ecuador
Qatar's Emir issued an instrument of ratification approving the income tax treaty with Ecuador on 14 April
See MoreNamibia: Budget proposals for 2015-16
The Namibian budget speech for 2015-16 was delivered on 31 March 2015. In the budget it was proposed to reduce the corporate income tax rate for non-mining companies from 33% to 32%. There will be no change in the corporate tax rate for mining
See MoreTurkey: Notional interest deduction as incentive for capital
The Parliament has accepted a law 6639 entitled “notional interest deduction” on 7th April 2015. This new law gives a tax incentive for cash capital contribution increases, effects after 1st July 2015. Excluding those operating in the finance,
See MoreDTA between Nigeria and Spain enters into force
The Income and Capital Tax Treaty between Nigeria and Spain will enter into force on 5th June
See MoreEgypt Publishes Preliminary Budget for 2015-2016
The Ministry of Finance issued a preliminary statement on 18 March 2015, for the 2015-2016 Budget. The statement highlighted the following changes: The standard corporate tax rate will be reduced to 22.5%. The new rate is expected to apply for
See MoreDTA between Portugal and Saudi Arabia signed
Portugal and Saudi Arabia signed an income tax treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Lisbon on 8 April
See MoreBelgium: Council of Ministers Approves Protocol to Treaty between Belgium and Rwanda
The amending protocol to the income tax treaty between Belgium and Rwanda was approved by the Council of Ministers on 13 March 2015. The protocol was signed on 17 May
See MoreRwanda: Cabinet Approves Rwanda-Barbados DTA
The income tax treaty between Rwanda and Barbados was approved by the Cabinet of Rwanda on 20 March
See MoreSouth Africa signs protocol to amend tax treaty with Cyprus
The amending protocol to the Income and Capital Tax Treaty (1997) between South Africa and Cyprus was signed on April 1,
See MoreSouth Africa: SARS Issues Tax Guide For Non-Residents
The South African Revenue Service (SARS) has issued a tax guide for the tax treatment of South Africa-sourced income of non-residents. The guide mainly focuses on employment income. Non-resident individuals are required to register with SARS and
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