Czech Republic and Oman initiate tax treaty negotiations
The Czech Republic and Oman are set to begin a fresh round of negotiations for a new tax treaty, scheduled to take place in Prague from 19 -22 May 2025. The treaty was initially agreed upon in principle on 5 December 2012, following a second
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Czech Republic, Tanzania sign income tax treaty
The Czech Republic Ministry of Finance announced the signing of an income tax treaty with Tanzania on 14 May 2025. This is the first treaty between the two countries and aims to eliminate double taxation concerning taxes on income and prevent tax
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Bahrain Upper House ratifies first income tax treaty with Oman
Bahrain’s upper house of the National Assembly (Majlis al-shura) approved the ratification of the income tax treaty with Oman on 11 May 2025. The aim of these agreements is to strengthen the economic ties between the two countries and improve
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Burundi and Morocco sign income tax treaty
Burundi and Morocco signed their first income tax treaty on 12 May 2025. The new agreements aim to strengthen and diversify ties between the two nations. They include a tax treaty to prevent double taxation, tax evasion, fraud, and five MoUs
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Mozambique updates procedures for monthly VAT invoice reporting
Mozambique’s tax authority (MTA) announced on 27 March 2025 that VAT taxpayers must submit a certified monthly invoice data file via its electronic declaration website, starting May 2025. The VAT invoice file must include party details,
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Bahrain, UAE investment agreement now in effect
The Investment Promotion and Protection Agreement ( IPA) between the UAE and Bahrain became effective on 8 May 2025, after completing the required legal procedures. The agreement establishes a legal framework that protects investments, boosts
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Turkey to mandate smart taximeters and payment systems for taxis by 2025
The Turkish Revenue Administration (GİB) has released a draft communiqué under the Tax Procedure Law requiring all taxis in Turkiye to adopt integrated smart taximeters and payment systems by 31 December 2025. The measure seeks to promote digital
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Nigeria: Senate approves tax reform bills, rejects 10% VAT proposal
Nigeria’s Senate passed the Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill on 7 May 2025 after they had been considered for third reading and passed by the Senate. The Senate passed both bills but rejected the
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UAE: Federal Tax Authority clarifies reverse charge rules for precious metals, gemstones
The UAE Federal Tax Authority has released Public Clarification VATP043 on 30 April 2025, which addresses the application of the reverse charge mechanism for Value Added Tax (VAT) on transactions involving precious metals and precious stones between
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Oman introduces 10-year corporate tax exemption for SEZs, FZs
The Sultanate of Oman issued Royal Decree 38/2025, introducing a new law to govern Special Economic Zones (SEZs) and Free Zones (FZs) on 7 April 2025. It grants qualifying businesses a 10-year exemption from corporate income tax, with the
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Croatia: Government approves tax treaty with Saudi Arabia
Croatia’s government has approved a draft bill for the ratification of the Croatia-Saudi Arabia Income and Capital Tax Treaty (2024) on 2 May 2025. The proposed legislation has now been forwarded to the Croatian parliament for further review
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Turkey raises foreign exchange conversion support rate for businesses
Turkiye has raised the foreign exchange (FX) conversion support rate for companies converting foreign currency into Turkish lira (TRY) from 2% to 3%. This change, effective from 1 May to 31 July 2025. This update is outlined in Communiqué No.
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Saudi Arabia: ZATCA urges taxpayers to utilise fine exemption initiative again
The Saudi Zakat, Tax and Customs Authority (ZATCA) has urged all taxpayers to leverage from the “Cancellation of Fines and Exemption of Penalties Initiative" which ends on 30 June 2025. ZATCA has clarified that the fines covered by the
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Greece, UAE renew double taxation avoidance agreement
Greece and the UAE have agreed to update and renew their 2010 tax treaty. Greek Prime Minister Kyriakos Mitsotakis met with UAE Minister Dr. Sultan Al Jaber to announce the renewal of the double taxation avoidance agreement between Greece and the
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UAE: FTA clarifies corporate tax exemptions of investors in REITs as a qualified fund
The UAE’s Federal Tax Authority (FTA) has issued a new public clarification regarding Corporate Tax on the tax treatment of investors in a Real Estate Investment Trust (REIT) who are exempt from Corporate Tax as a Qualified Fund on 6 May
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South Africa: SARS lowers interest rates on unpaid taxes and overpaid amounts
The South African Revenue Service (SARS) has released updated interest rate tables effective from 1 May 2025. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely – interest
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UAE issues VAT guidance on valuation of barter transactions
The UAE Federal Tax Authority issued VAT Public Clarification VATP042, providing guidance on determining the value of supply in barter transactions on 29 April 2025. In general, taxable persons receive monetary consideration for the supplies they
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Cameroon ratifies income tax treaty with Czech Republic
Cameroon President Paul Biya has completed the ratification of an income tax treaty with the Czech Republic on 2 May 2025. Signed on 7 February 2023, it is the first agreement of its kind between the two nations. It aims to eliminate double
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