Oman, Estonia sign tax treaty
Oman and Estonia signed an income tax treaty in Muscat on 27 October 2024. The agreement was signed on behalf of the Government of the Sultanate of Oman by HE Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority, and on behalf of the
See More
Hong Kong gazettes tax treaty with Armenia, Bahrain, Bangladesh, Croatia, Turkey
Hong Kong’s Chief Executive in Council issued an Order to implement tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and Turkey on 23 October 2024. The Order for signing tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and
See More
UAE publishes guide on corporate tax for real estate investment
The UAE Federal Tax Authority has published a guide outlining corporate tax rules for individuals earning income from real estate investments on 24 October 2024. Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses and
See More
UAE to implement mandatory e-invoicing for B2B, B2G transactions
The UAE Ministry of Finance (MoF) has announced plans to implement a mandatory electronic invoicing (e-invoicing) system for business-to-business (B2B) and business-to-government (B2G) transactions. The implementation of this e-invoicing system
See More
Qatar approves amending protocol to tax treaty with Norway
Qatar's Council of Ministers approved for ratification the amending protocol to the income tax treaty with Norway on 23 October 2024. Earlier, Norway and Qatar signed an amending protocol to the 2009 Norway—Qatar Income Tax Treaty on 4
See More
Hong Kong issues tax treaty orders with Armenia, Bahrain, Bangladesh, Croatia, and Turkey
The Hong Kong Inland Revenue has announced that the Chief Executive in Council has issued five orders to ratify upcoming tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and Turkey on 23 October 2024. The Orders will be gazetted today, 25
See More
Kazakhstan negotiates tax treaty with Kuwait
Kazakhstan Ministry of Foreign Affairs, in a release on 21 October 2024, announced that officials from Kazakhstan and Kuwait met to discuss investment relations and establish an income tax treaty on the avoidance of double taxation. Deputy
See More
Kenya keeps market and deemed interest rates unchanged for Q4 2024
The Kenya Revenue Authority has released a public notice regarding the market interest rate applicable to fringe benefit tax and the deemed interest rate for specific non-resident loans for October, November, and December 2024, which has been
See More
South Africa considers incentivising local manufacturing of electric and hybrid vehicles
South African President, Cyril Ramaphosa, announced that he is considering the introduction of tax rebates or subsidies to encourage local manufacture of electric and hybrid vehicles on Thursday, 17 October 2024. "Consideration must be given to
See More
Egypt unveils tax incentives to simplify compliance, boost economic growth
Egypt’s Minister of Finance, Ahmed Kouchouk, during a press conference, unveiled a new package of tax incentives in an attempt to simplify tax procedures and enhance economic productivity on Wednesday, 11 September 2024. The incentives include
See More
Jordan to sign tax treaty with Kenya
Jordan’s Cabinet approved signing an income tax treaty with Kenya on 19 October 2024. This treaty, a first between the two nations, will require signing and ratification before it becomes effective. The tax treaty aims to eliminate double
See More
Turkey enforces increased tax penalties under amended Tax Procedure Law
Turkey's Ministry of Treasury and Finance has released General Communiqué No. 571 on 19 October 2024, officially enforcing heightened tax penalties in accordance with the amended Tax Procedure Law (TPL) as outlined in Law No. 7524. According to
See More
Morocco: 2025 draft finance law introduces new tax rules for joint ventures and economic groups
Morocco’s Ministry of Finance released the draft Finance Law 2025 on 19 October 2024, proposing various measures for corporate income tax, focusing on taxing joint ventures and economic interest groups. Corporate tax rules change for joint
See More
UAE: Tax Authority releases guide on tax residence and residency certificates
The UAE Federal Tax Authority released a new guide on tax residence and tax residency certificates, titled Tax Procedures Guide on Tax Resident and Tax Residency Certificate - TPGTR1. Federal Decree-Law No. 47 of 2022 on the Taxation of
See More
Turkey amends payment documentation rules for non-taxpayers
The Turkish Ministry of Treasury and Finance released General Communiqué No. 572 on 18 October 2024, amending the Tax Procedure Law (TPL) General Communiqué No. 459 to enforce stricter documentation requirements for payments involving
See More
UAE: MoF drops economic substance reporting requirements
The Ministry of Finance (MoF) has cancelled the economic substance reporting requirements for companies with financial years concluding after 31 December 2022. This update follows Cabinet Decision No. (98) of 2024, which revises certain aspects
See More
Luxembourg, Oman sign first income tax treaty
Luxembourg and Oman have signed an income tax treaty on 17 October 2024. HE Sheikh Dr Abdullah bin Salem al Harthy, Oman's Ambassador to Luxembourg, signed the agreement on behalf of Oman, and HE Gilles Worth, Luxembourg's Minister of Finance,
See More
Turkey updates transfer pricing communiqué to align with new CbC reporting deadlines
Turkey’s Ministry of Treasury and Finance released General Communiqué No. 5 on Transfer Pricing on 17 October 2014. This Communiqué amends General Communiqué No. 1 on Transfer Pricing and aligns it with new deadlines for Country-by-Country
See More