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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Nigeria introduces e-invoicing platform to curb tax evasion
Nigeria's Federal Inland Revenue Service (FIRS) has launched a new e-invoicing platform, the Merchant Buyer Solution (eInvoice), alongside the National Electronic Invoicing Inter-Agency Steering Committee on 29 April 2025. The rollout is phased,
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Bahrain: National Assembly approves first income tax treaty with Oman
The Bahraini lower chamber of the National Assembly ( Council of Representatives) has approved the ratification of the income tax treaty with Oman on 29 April 2025. The aim of these agreements is to strengthen the economic ties between the two
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San Marino ratifies tax treaty with Kuwait
San Marino has ratified its tax treaty with Kuwait with Decree No. 65/2025, which was published in the Official Gazette on 29 April 2025. The treaty aims to avoid double taxation and enhance economic ties between the two nations. The
See MoreCzech Republic approves signing tax treaty with Kenya
The Czech Republic government has approved the signing of an income tax treaty with Kenya on 30 April 2025. This follows after negotiations for the agreement started on 22 January 2025 between the countries. It aims to eliminate double taxation
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Turkey extends VAT exemption for construction under incentive certificates
Turkey has extended a VAT exemption for construction activities in the manufacturing and tourism sectors, under Presidential Decision No. 9770 issued on 30 April 2025, which was published in the Official Gazette on 1 May 2025 (No. 32887). The
See MoreUAE: FTA removes fines for delayed corporate tax registration
The UAE’s Federal Tax Authority (FTA) has introduced a new initiative allowing businesses to have administrative penalties waived or refunded for late corporate tax registration on 2 May 2025, provided certain conditions are met. To qualify,
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Cameroon ratifies income tax treaty with China
Cameroon President Paul Biya has approved the ratification of an income tax treaty with China on 2 May 2025. Signed on 17 October 2023, it is the first agreement of its kind between the two nations. It aims to eliminate double taxation on income
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Brazil, Saudi Arabia negotiate first tax and investment deals
Brazil and Saudi Arabia are negotiating their first-ever income tax treaty and an investment protection agreement (IPA), according to a recent update from the Brazilian Senate. The proposed agreements aim to prevent double taxation and encourage
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Kenya enforces BEPS Multilateral Instrument (MLI)
The Multilateral Convention to Implement Tax Treaty Measures to Prevent Base Erosion and Profit Shifting (MLI) took effect in Kenya on 1 May 2025. For tax treaties between Kenya and countries where the MLI is already in force, it applies from 1
See MoreTurkey: Tax Authority extends 0% withholding tax on bonds, bills and sukuk to July 2025
Turkey's tax authority issued Presidential Decree No. 9769 on 30 April 2025, which was published in the Official Gazette on 1 May 2025 (No. 32887). The decree extends the 0% withholding tax rate on income derived from certain government-backed
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Saudi Arabia imposes 10% tax on undeveloped land to boost construction
Saudi Arabia has raised the annual fee on unused land from 2.5% to as much as 10% of the property's value, following Cabinet-approved reforms to the White Land Tax Law. The changes, enacted on 29 April 2025, represent the largest update to the law
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Kenya presents 2025 Finance Bill, aims to reduce cost of living
Kenya's Cabinet Secretary for National Treasury and Economic Planning, John Mbad,i has presented the Finance Bill 2025 before the National Assembly on 30 April 2025. The government says it has not introduced any new taxes in the Finance Bill
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Hong Kong, Bahrain tax treaty enters into force
Hong Kong's Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Bahrain, signed in March last year, came into force on 4 March 2025, after completion of relevant ratification procedures. The CDTA will be applicable to Hong Kong tax
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South Africa court halts April 2025 VAT rate hike
The Western Cape High Court has issued a ruling to officially halt the planned rise in South Africa's VAT rate on 27 April 2025. A ruling has resolved a disagreement between the two largest parties in South Africa’s coalition government over a
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Bahrain ratifies IPA with Hungary
Bahrain has completed the ratification of the Bahrain-Hungary Investment Protection Agreement (2024) through Law No. 19 of 2025, effective as of 23 April 2025. Investment Promotion Agreements (IPAs) commit national governments to reduce
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