Algeria announces June deadline for annual transfer pricing declaration formÂ
The Algerian government announced that taxpayers must complete and submit the annual transfer pricing declaration (e-form) for the fiscal year of 2023 by Sunday, 30 June, 2024. The annual transfer pricing declaration form, enacted by the
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Oman, Ireland sign tax treaty
Officials from Ireland and Oman signed an income tax treaty on 30 May, 2024, marking the first agreement of its kind between the two nations. The agreement was signed by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, and Gerard
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Qatar, Saudi Arabia sign tax treaty
Qatar and Saudi Arabia signed an income tax treaty on Thursday, 30 May, 2024. The treaty, which is a first of its kind between the two Gulf monarchies, aims to eliminate double taxation, prevention as well as avoidance of tax evasion, promote
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Saudi Arabia mandates E-Invoicing for high-revenue taxpayers by December 2024
The Zakat, Tax and Customs Authority (ZATCA) Saudi Arabia announced on 24 May, 2024, the criteria for the 12th group of taxpayers will be required to comply during the implementation of the second phase of the electronic invoicing (e-invoicing)
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Ivory Coast approves tax treaty with Qatar
The Ivory Coast Council of Ministers ratified the pending income tax treaty with Qatar on Wednesday, 22 May, 2024. Signed initially on 7 December, 2022; this agreement is a first between the two nations. The treaty will come into effect after
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Kenya and US to strengthen business and trade ties
Kenyan President William Ruto announced that Kenya will engage in a new round of trade negotiations with the US on Friday, 24 May 2024, during a visit to the US. These talks aim to promote new business agreements and to strengthen economic ties
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UAE: FTA calls for juridical persons to register for corporate tax by May
The UAE Federal Tax Authority (FTA), in a release published on Tuesday, 23 May, 2024, called for juridical persons licensed in January and February to submit their corporate tax registration applications by 31 May, 2024. The registration deadline
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Tax treaty negotiations underway between Turkey and Zimbabwe
The first round of negotiations for an income tax treaty between Turkey and Zimbabwe took place from 14 – 17 May, 2024. The negotiations were chaired by Ahmet Yildirim, Head of Revenue Administration, on behalf of Turkey, and Misheck Govha,
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Belarus and Equatorial Guinea ratifies tax treaty
Belarusian President Alexander Lukashenko signed a law on Tuesday, 21 May, 2024, ratifying the pending income and capital tax treaty with Equatorial Guinea. Signed on 9 December, 2023, this tax treaty is the first of its kind between the two
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Croatia and Egypt tax treaty goes into effect
According to an update from Croatia's Ministry of Foreign and European Affairs, the income and capital tax treaty with Egypt came into force on 16 April, 2024, and will from 1 January, 2025. The treaty covers individual income tax, corporate
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Malaysia releases synthesized text of Jordan tax treaty affected by BEPS MLI
The Inland Revenue Board of Malaysia (IRBM) has released the synthesized text of the tax treaty with Jordan, regarding changes mandated by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit
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UAE publishes corporate tax guide on free zone regime
The UAE Federal Tax Authority (FTA) has released a corporate tax guide for the free zone regime, stipulating that qualifying free zone persons are entitled to a 0% corporate tax rate on qualifying income and a 9% rate on other taxable
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Mexico updates criteria for temporary import of ‘sensitive goods’ under 8th rule
The Ministry of Economy in Mexico has revised its guidelines for the temporary importation of "sensitive goods" under the "8th rule". 8th rule goods include elaboration of final products listed in the PROSEC Decree; such as materials, parts,
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Turkey raises interest rates for late tax payments, deferred tax
Turkey's Revenue Administration has issued Presidential Decision No. 8484 – which came into force yesterday, 21 May, 2024 – raises the interest rate for late tax payments from 3.5% to 4.5% per month. This development follows a prior increase
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Kenya: High Court rules no extra import duties on petroleum products
The Kenyan High Court ruled that the tax authority cannot impose additional import duties on product gains from petroleum products once initial duties have been paid. Such gains should be taxed exclusively under income tax law. The case in
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Tax treaty negotiations successfully conclude between Croatia and Saudi Arabia
Representatives from Croatia and Saudi Arabia successfully concluded negotiations regarding an income tax treaty between the two nations on 15 May 2024. This agreement, a first of its kind, aims to prevent double taxation of income and
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Saudi Arabia approves tax treaty with Slovak Republic
The Saudi Cabinet gave its stamp of approval for the ratification of the income tax treaty with the Slovak Republic on 14 May, 2024. The treaty was initially signed on 13 November, 2023, marking the first of its kind between the two
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Papua New Guinea pursues treaty with UAE
In a recent update from Papua New Guinea's Ministry of International Trade and Investment, it was revealed that delegates from Papua New Guinea and the United Arab Emirates met during the Annual Investment Meeting (AIM) Congress from 7 - 9 May,
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