UAE urges juridical licensees to register for corporate tax by September 2024
The UAE Federal Tax Authority (FTA) has announced that entities licensed in July must submit their Corporate Tax registration applications by 30 September 2024 to avoid Administrative Penalties. In a press statement issued today, the FTA advised
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Norway, Qatar sign amending protocol to tax treaty
On 4 September 2024, Norway and Qatar signed an amending protocol to the 2009 Norway—Qatar Income Tax Treaty. This tax treaty aims to prevent double taxation and avoid fiscal evasion regarding taxes on income between the two countries. The
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Austria approves negotiation of income tax treaty with Libya
The Austrian Council of Ministers has approved the negotiation of an income tax treaty with Libya on 4 September 2024. A tax treaty is a bilateral agreement between two countries designed to address double taxation on both passive and active
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South Africa releases guide on revised tax rates and levies
The South African Revenue Service (SARS) released an updated version of the Guide for Tax Rates/Duties/Levies (Issue 17) on 29 August 2024. This guide compiles current and historical insights into the various taxes, duties, and levies collected by
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Angola, EU sustainable investment agreement takes effect
The EU-Angola Sustainable Investment Facilitation Agreement (SIFA) entered into force on 1 September 2024. On 18 November 2022, the EU and Angola concluded negotiations on the SIFA. The agreement was signed on 17 November 2023 in Luanda,
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Saudi Arabia: ZATCA sets criteria for 15th e-invoicing phase; compliance starts 1 March 2025
Saudi Arabian Zakat, Tax and Customs Authority (ZATCA) announced the criteria for the 15th group of taxpayers who must adhere to the second phase of the e-invoicing system implementation on 30 August 2024. This initiative is part of ZATCA's efforts
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Turkey extends Q2 2024 provisional tax return deadline, eases inflation adjustment rules
Turkey's Revenue Administration announced the publication of Tax Procedure Law Circular No. 173 of 29 August 2024. This extends the tax return submission and payment deadline for the income and corporate provisional tax returns for the second
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Ghana negotiates tax treaties with Hungary, Israel, UAE, Korea, Egypt
Ghana announced that it is negotiating to establish income tax treaties with Hungary, Israel, UAE, Korea, and Egypt. Daniel Nuer, Head of the Tax Policy Unit at Ghana's Ministry of Finance, revealed that the Ministry plans to implement
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Israel: Central Bank won’t cut interest rates again in 2024
Andrew Abir, Deputy Governor of the Bank of Israel, said that the central bank will not reduce short-term interest rates in its final two policy meetings in 2024 on Wednesday, 28 August. The Governor said that this decision was taken due to
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Saudi Arabia consults proposed amendments to VAT implementation regulations
Saudi Arabia Zakat, Tax and Customs Authority (ZATCA) announced proposed amendments to the VAT Implementation Regulations on 28 August 2024, now open for public consultation until 17 September 2024. The proposed changes aim to align Saudi tax
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South Africa publishes guidance for withholding tax on royalties
The South African Revenue Service (SARS) has issued guidance on withholding tax for royalties, providing clarification on the completion of the Withholding Tax on Royalties return (WTR01), how to make payment on eFiling and apply for a refund using
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UAE: FTA urges june-licensed juridical entities to register for corporate tax by August 2024
The UAE Federal Tax Authority (FTA) has issued a reminder for juridical persons licensed in June to submit their Corporate Tax registration applications by 31 August 2024. The Federal Tax Authority (FTA) has renewed its calls for Resident
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OECD reports advances on harmful tax practices in Armenia, Bulgaria, Croatia, Eswatini, and Hong Kong
The OECD released an announcement on 27 August 2024 highlighting that jurisdictions have made further progress in addressing harmful tax practices through the implementation of the international standard under BEPS Action 5. This is evidenced by
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Kenya Revenue Authority wins KES 1 billion VAT fraud case
The Kenya Revenue Authority (KRA) announced that it won a KES 1 billion case against a Chinese company involved in a missing trader VAT fraud. Tax fraud investigations have exposed how a Chinese company fraudulently evaded payment of over KES 1
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Turkey, Zimbabwe conclude second round tax treaty negotiations
Turkey and Zimbabwe concluded a second round of negotiations for a Double Taxation Avoidance Agreement at Ankara from 19 to 22 August 2024. The announcement was made by Turkey's Revenue Administration on 22 August 2024. The negotiations were
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Kenya considering penalty waiver for tax agents delaying remittances
Kenya’s Parliament announced in a Facebook post that it is evaluating the Kenya Revenue Authority (Amendment) Bill 2024, which was first presented on 15 August 2024. The bill is currently under review by the Committee on Finance and National
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Turkey extends submission, payment deadlines for Q2 income and corporate tax
Turkey's Revenue Administration has extended the return submission and payment deadline for the second quarter tax period of the 2024 accounting period for income and corporate tax from 19 August 2024 to 27 August 2024. The announcement was made
See MoreWTO: World Trade Statistics 2023
On 31 July 2024 the WTO launched a new online interactive tool, World Trade Statistics 2023. The interactive tool includes charts of the growth in merchandise trade value and volume, the top 20 exporters in merchandise trade and the growth in
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