UAE issues MAP guidance on double taxation relief
The UAE Ministry of Finance has issued official guidance on the Mutual Agreement Procedure (MAP), outlining how businesses and individuals can seek relief from double taxation under the country’s international tax treaty network. The guidance was
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South Africa: SARS updates urban development zone allowance guide
The UDZ allowance guide offers general guidance on section 13 (quat) of the Income Tax Act and the application of the urban development zone incentive. The South African Revenue Service (SARS) published Issue 10 of its updated Guide to the Urban
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Russia ratifies tax treaty with UAE
Russia ratifies UAE tax treaty to prevent double taxation and curb avoidance. The Russian State Duma ratified the agreement with the UAE on the elimination of double taxation with respect to taxes on income and capital on 24 June
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Bahrain ratifies income tax treaty with Oman
It will enter into force after the exchange of ratification instruments and will apply from 1 January of the year following its entry into force. Bahrain’s King Hamad bin Isa Al Khalifa approved Law No. 28 of 2025 ratifying the income tax
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South Africa: SARS updates tax guide on net billing for renewable energy
SARS clarifies tax rules for surplus renewable energy under net-billing system. The South Africa Revenue Service (SARS) released an updated Guide on 13 June 2025, outlining the tax implications for the net-billing tariff system applied to surplus
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Saudi Arabia extends deadline for retroactive zakat applications
Saudi Arabia has extended the deadline for zakat payers to apply the Executive Regulations to prior fiscal years, giving more time for compliance. Saudi Arabia has extended the deadline for zakat payers to apply the Executive Regulations for the
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Singapore adds Cameroon to CbCR exchange list for FY2024
The update takes effect for financial years (FY) starting from 2024. The Inland Revenue Authority of Singapore (IRAS) has updated its Country-by-Country Reporting (CbCR) guidance as of 20 June 2025, expanding the list of jurisdictions eligible
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Croatia ratifies tax treaty with Saudi Arabia
Croatia and Saudi Arabia signed a treaty to eliminate double taxation and boost trade and investment between the two nations on 4 December 2024. Croatia published the law ratifying the income and capital tax treaty with Saudi Arabia in the
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Strait of Hormuz in spotlight: Oil prices surge five-month highs after US bombs Iran
Iran is the world's ninth-largest oil producer. The escalation of conflict now threatens vital supply routes, particularly the Strait of Hormuz through which roughly 20% of the world’s oil and gas passes. Markets are bracing for further
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Egypt ratifies amending protocol to 2019 tax treaty with UAE
Egypt ratified the protocol to its 2019 tax treaty with the UAE, signed on 11 February 2024, exchange of ratification instruments. Egypt’s parliament ratified the amending protocol to the 2019 income tax treaty with the UAE on 15 June
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Uganda presents 2025–26 budget, proposes income tax exemption for start-ups
Uganda's Ministry of Finance unveiled a UGX 72.136 trillion national budget for 2025-26. Uganda’s Ministry of Finance Planning and Economic Development has unveiled a UGX 72.136 trillion national budget for the 2025-26 financial year on 12
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Mozambique restores VAT exemption on soap, sugar, and oil
The VAT exemption will be effective from 30 May 2025 to 31 December 2025. Mozambique has published Law No. 3/2025 in the Official Gazette on 21 May 2025, amending the VAT Code to reintroduce a VAT exemption for soap, sugar, and cooking
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Tanzania presents 2025-26 budget, introduces withholding tax and higher AMT
The budget speech highlighted key fiscal changes, which included a new withholding tax, higher alternative minimum tax, and VAT adjustments. Tanzania's Minister of Finance, Mwigulu Nchemba, has presented the 2025-26 Budget Speech to parliament on
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South Africa: SARS issues updated guide and quick reference for advance tax rulings
SARS issues updated advance tax ruling guide and quick reference on application steps. The South African Revenue Service (SARS) has released the second edition of its guide to advance tax rulings on 11 June 2025. This guide offers guidance on
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Kenya: National Treasury publishes budget statement 2025-26, reduces corporate and digital tax rates
Kenya's National Treasury has released the 2025-26 Budget Statement on 12 June 2025. Kenya's National Treasury published the 2025-26 Budget Statement on 12 June 2025, outlining key tax measures aligning with proposals highlighted in the 2025
See MoreCroatia: Parliament ratifies income and capital tax treaty with Saudi Arabia
The Croatian Parliament ratified its first income and capital tax treaty with Saudi Arabia on 6 June 2025. Croatia’s Parliament passed the law to ratify the income and capital tax agreement with Saudi Arabia on 6 June 2025. Signed on 4
See MoreSouth Africa: SARS outlines SEZ tax benefits for SMMEs to support investment and growth
SARS outlines SEZ tax incentives and licensing rules for SMMEs to support investment and trade. The South African Revenue Service (SARS) published the Traders and Travellers Connect Edition 5 on 9 June 2025, highlighting the benefits of special
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Morocco, Kenya discuss first income tax treaty
Morocco and Kenya met on 26 May 2025 to discuss economic cooperation and a first-ever income tax treaty. Morocco's Ministry of Foreign Affairs announced on 26 May 2025 that Moroccan and Kenyan officials met to advance economic cooperation and
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