Double taxation convention between the United Kingdom and Ethiopia entered into force
The Comprehensive Double Taxation Convention between the UK and Ethiopia entered into force as of 21 February 2013. The treaty was signed on 9 June 2011. The convention generally follows the OECD Model Tax Convention. According to the provisions of
See MoreNamibia: Budget for 2013-14
The Minister of Finance of Namibia presented its Budget for 2013-14 to the National Assembly on 26 February 2013. Details of the Budget, which unless otherwise indicated will apply from 1 March 2013. In the Budget 2013-14 it has been proposed for
See MoreTax treaty signed between Germany and Oman
A double taxation treaty between Germany and Oman was signed in Muscat on 15 August 2012. This follows the conclusion of a bilateral investment promotion and protection treaty which was signed in 2010. The double taxation treaty generally follows
See MoreChina and Ethiopia income tax treaty enters into force
The income tax treaty between China and Ethiopia, which was signed on 14 May 2009, entered into force on 25 December 2012. The treaty generally follows the OECD Model Convention. According to the treaty the maximum withholding tax rates on dividends
See MoreNigeria introduced new TP regulations
Nigeria has announced new Transfer Pricing Regulations on October 22, 2012. This will be applicable retroactively to August 2, 2012. The TP Regulations provide that all transactions between connected parties should be at arm’s length. Taxpayers
See MoreIncome and Capital Tax Treaty between Saudi Arabia and Ukraine
To build tax cooperation, Saudi Arabia and Ukraine signed an Income and Capital Tax Treaty on 2 September 2011 which enters into force on 1 December 2012. The treaty will be effective from 1 January 2013. According to the treaty the default tax
See MoreUganda: Budget for Financial Year 2012-13
The Ugandan budget for 2012-13 was presented by the Minister of Finance, Planning and Economic Development on 14 June 2012. This Budget is effective from 1 July 2012. The proposed changes are summarized below: The withholding tax on income derived
See MoreTanzania: Budget for 2012-13
The Budget for 2012-2013 is generally effective from 1 July 2012. The key points of the Budget are summarized below: Corporate taxation Introduction of a 10% withholding tax on interest income earned by non-residents from banks, as is the case
See MoreIncome Tax Treaty between Turkey and Philippines
Philippines and Turkey signed an Income Tax Treaty on March 2009, for the avoidance of double taxation. The treaty was concluded in both the Turkish and English language with each text having equal authenticity. The maximum withholding tax rate on
See MoreIncome Tax Treaty between Philippines and Turkey
The Philippines and Turkey signed an Income Tax Treaty in March 2009. Details of the treaty have become available. The treaty was concluded in both Turkish and English with each text having equal authenticity. The maximum withholding tax rate on
See MoreOman ratifies the pending Oman-Germany DTA
Oman's Sultan, Qaboos bin Said al Said ratified the pending Oman-Germany double taxation agreement (DTA) on November 25,
See MorePalestine and Turkey initial a DTA
According to media reports, Palestine and Turkey initialed a double taxation agreement (DTA) during four-day meetings that concluded on November 15,
See MoreNew DTA between Czech Republic and Gabon
According to media reports, the Czech Republic and Gabon are to commence three-day negotiations towards a double taxation agreement (DTA) starting on November 12,
See MoreSweden ratifies a DTA with Mauritius
According to media reports, Sweden ratified a double taxation agreement (DTA) with Mauritius and a Protocol with Barbados on October 24,
See MoreKenya Increasing Taxes to Cover Budget Shortfall
On 10 October 2012 it was reported that, according to Kenya’s Finance Minister, the government needs to find KES40bn of additional tax revenue or spending cuts to fill a hole in its 2012/13 Budget, which has been largely caused by the recent pay
See MoreSouth Africa’s New Tax Administration Act Is In Force
The South African Revenue Service (SARS) has announced that the Tax Administration Act (TAA), which is intended to simplify and provide greater coherence in South African tax administration law, and was promulgated on July 4, 2012, largely came into
See MoreDTA between Lithuania and Qatar
According to media reports, Lithuania's President on September 7, 2012, authorized the signing of a double taxation agreement (DTA) between Lithuania and
See MoreSouth Africa Closes Loopholes in New Dividend Tax
On 6 September 2012 it has been published that South Africa’s Minister of Finance has announced the closing of tax avoidance schemes which have arisen with regard to the operation of the new dividends tax. The dividends tax came into effect on
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