Zambia: Government implements budget tax changes for 2022
Recently, the Zambian Government has published Practice Note No. 1/2022 which provides an overview of the various 2022 tax changes implemented through the Budget 2022 Amendment Acts. The most important changes are summarized below: Corporate
See MoreKenya: Corporate tax measures in Finance Bill 2022
On 12 April 2022, the Finance Bill 2022 was presented in the National Assembly of Kenya, which provides following tax measures related to corporate taxation. Corporations donating money to non-profit organizations can deduct the donation from
See MoreOman publishes guidelines to clarify CbC reporting obligations
In March, the Tax Authority published guidance clarifying the country-by-country (CbC) reporting requirements of multinational corporations (MNEs) operating in Oman. The guide provides a general overview of the CbC reporting requirements as part of
See MoreTurkey enacts various amendments to the tax measures
On 15 April 2022, Turkey published Law No. 7394 in the Official Gazette containing various tax related measures including corporate tax rates, tax exemptions, and incentives. The main measure of the amendments are as follows: 25% corporate tax
See MoreSouth Africa: SARS updates interest rate tables
The South African Revenue Service (SARS) has recently released updated interest rate tables updated on 14 March 2022. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, i.e. – Table 1:
See MoreGhana introduces e-Filing requirements
The Ghana Revenue Authority (GRA) announced the requirement to file tax returns electronically beginning from 1 April 2022. The following categories of taxpayers subject to file tax returns electronically: Taxpayers registered with the Large
See MoreTurkey: Government submits a draft bill to the Parliament
On 25 March 2022, the Turkish Government submitted a draft bill to the Parliament. The bill contains various tax related measures including corporate tax rates, tax exemptions, and incentives. The main measure of the bill are as
See MoreAngola revises number of large taxpayers required to prepare TP documentation
On 15 March 2022, the Ministry of Finance of Angola has issued Order No. 1083/22 through which the list of the large taxpayers has been revised subject to the preparation of transfer pricing (TP) documentation. The listed large taxpayers must
See MoreSouth Africa: Cabinet approves BEPS MLI
The South African Cabinet approved on 23 March 2022, the submission to Parliament for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). After the
See MoreOECD: Strengthening African Tax Administrations to Increase Revenue from Mining
On 23 March 2022 a blog post by the training unit of the OECD, the African Tax Administration Forum (ATAF) and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development (IGF) considered how to strengthen the role of the
See MoreZambia publishes provisional income tax return due dates and penalties for 2022
Recently, the Zambia Revenue Authority (“ZRA”) released the due dates and associated penalties for the purposes of provisional income tax returns for the first quarter for the tax year 2022. For the 2022 tax year, the following due dates and
See MoreNigeria: FIRS posts digital FAQs regarding transfer pricing
On 15 March 2022, the Federal Inland Revenue Service (FIRS) made a post of frequently asked questions and answers (FAQs) related to transfer pricing (TP) through online. This includes applicable regulations and their scope; documentation
See MoreJordan: ISTD publishes transfer pricing and CbC Notification forms
Recently, the Jordan Income and Sales Tax Department (ISTD) has published new transfer pricing and country-by-country (CbC) Notification forms (Arabic language) in line with executive instructions No. 3 of 16 September 2021. Transfer pricing
See MoreSouth Africa:Â Finance Minister delivers Budget 2022-2023 in National Assembly
On 23 February 2022, the Finance Minister, Mr Enoch Godongwana, delivered the 2022-2023 Budget Speech to the National Assembly at the Good Hope Chamber. Some of the main tax measures are given below: The corporate income tax rate was proposed to
See MoreSouth Africa: Public Consultation on draft interpretation note on pricing of Intra-Group Loans
On 11 February 2022, the South African Revenue Services (SARS) published a draft interpretation note, determining the taxable income of certain persons from international transactions: intra-group loans and provides taxpayers with guidance on the
See MoreTurkey ratifies CAA regarding CbC exchange arrangement with US
On 14 February 2022, the Turkish Revenue Administration has issued Presidential Decision No. 5191 in the Official Gazette, through which Turkey ratifies the competent authority arrangement (CAA) on the exchange of country-by-country (CbC) with US.
See MoreJordan:Â ISTD issues guide on CbC reporting requirements
On 2 February 2022, the Jordan Income and Sales Tax Department (ISTD) has issued a press release clarifying the issuance of a guide related to the preparation and submission of Country-by-Country (CbC) reports. ISTD has published the guidelines
See MoreGhana Revenue Authority Proposes Revisions to Tobacco Tax
On 26 January 2022 the Ghana Revenue Authority (GRA) announced that revisions to the Tobacco Tax will be implemented later this year after consultations with relevant stakeholders are completed. The GRA intends to introduce a combination of
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