US: Treasury Department republishes list of boycott countries that result in restriction of US tax benefits
The list of countries that requires cooperation with, or participation in, an international boycott as a condition of doing business has been republished by the US Treasury Department. The countries listed are Iraq, Kuwait, Lebanon, Libya, Qatar,
See MoreRwanda and Singapore Sign bilateral Double Tax Agreement
In order to avoid double taxation and the prevention of fiscal evasion with respect to taxes on income, Rwanda and Singapore signed an agreement on 26 August 2014. The treaty will enter into force after the two countries exchange ratification
See MoreEgypt: Modifies Property Tax Law
Recently Egypt has modified their property tax law also introducing new exemptions and removing a provision by which an individual was taxed on the total amount of residential property they owned. Residential properties worth up to USD280, 000 are
See MorePoland-UAE: Income and Capital Tax Treaty modified by Poland
According to Law No. 1109 of 26 June 2014, the Income and Capital Tax Treaty (1993) between Poland and United Arab Emirates has modified by Poland and it was signed on December 11, 2013. According to the declaration of Polish Government confirms its
See MoreTurkey: Amendment in investment incentives regime
A decree entitled “Decree 2014/6588” has published on August 6, 2014 in the Official Gazette which amends Decree 2012/3305 on the investment incentives regime. Decree 2014/6588 entered into force on its publication date. The major requirements
See MoreEgypt: Increased tax rate and others
Egyptian corporate tax rate is temporarily increased from 25% to 30% for a three-year period with respect to income exceeding a threshold amount. Other tax changes in Egypt concerning: Capital gains on dispositions of securities; Dividends and
See MoreTreaty between Mauritius and Rwanda now in force
The Double Taxation Avoidance Agreement (DTAA) between Mauritius and the Republic of Rwanda has now entered in force on the 4th August 2014. The provisions of the Agreement shall be deemed to apply as in Rwanda, in respect of any income year
See MoreMalawi-UAE DTA will sign
In accordance with the initial media reports, investment promotion agency in Malawi has said that the nation will soon sign a Double Taxation Agreement (DTA) with the United Arab
See MoreMexico-UAE ITT effects and FATCA updates
The Income Tax Treaty (ITT) between the United Arab Emirates and Mexico has been ratified and entered into force in July 2014 and it will be effective from January 1, 2015. Article 4, article 10, article 11, article 12, article 13 of this treaty
See MoreSouth Africa: Tax authority proposes to revise “secondary adjustment” treatment
South African tax authority has been proposed that South Africa’s transfer pricing legislation relating to “secondary adjustments” be amended. The proposal placed to the Draft Tax Laws Amendment Bill 2014. Generally, a “secondary
See MoreSouth Africa: VAT Update 2015
A number of changes of South African VAT are coming from April 1, 2015. This is the additional part to the recent B2C digital services VAT registration changes. The following changes will be taken place in the upcoming policy; Removal of the
See MoreNigeria: Changes Income tax law for companies
According to section 55 of the income tax law for companies, the Federal Inland Revenue of Nigeria has declared a policy change and stated that non-resident companies will be required to file their returns. Non-resident companies have filed their
See MoreSouth Korea- No Budget for 2014
South Korea's Minister of Strategy and Finance revealed that the government will not introduce a supplementary budget in fiscal year 2014. The government is not planning any additional budget and measures will be included in the budget for
See MoreKenya–Qatar: Approved income tax treaty
The income tax treaty between Kenya and Qatar signed on 23 April 2014, which has been approved by the Cabinet of Qatar on 16 July
See MoreKenya-Seychelles signed the tax treaty
Kenya and Seychelles signed a double taxation agreement on 17 March 2014 which has been approved by the Cabinet of Kenya on 10 July
See MoreQatar: An unique incentive have been introduced by the QFC
An unique and innovative incentive have been introduced by the Qatar Financial Centre (QFC) Authority as amendments to the Tax Regulations and Tax Rules regarding using new areas of tax relief and tax losses, mostly providing an advantage for Qatar
See MoreSouth Africa: Davis Tax Committee Proposes Tax Reforms For SMEs
The Davis Tax Committee (DTC), which was set up by the South African Ministry of Finance in July 2013 to make recommendations for possible tax reforms, has released an updated interim report for public comment covering the following issues regarding
See MoreVietnam-Turkey DTA signed
The Double Taxation Agreement (DTA) between Vietnam and Turkey has signed during four days of meetings concluding on July 9,
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