Israel seeks input on local R&D centres and IP valuations
Israel’s tax authority (ITA) released a draft Tax Circular on 27 February 2025 for public comment. The circular outlines criteria and requirements for local R&D centres and post-acquisition IP sales, offering potential certainty from the
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Saudi Arabia releases draft real estate transaction tax regulations for public consultation
The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has released the draft regulations for the Real Estate Transaction Tax (RETT) for public consultation on 15 February 2025. The draft regulations update the rules for real estate
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Nigeria to launch pilot phase of e-invoicing system
Nigeria’s Federal Inland Revenue Service (FIRS) has initiated a stakeholder engagement on 18 February 2025 with large taxpayer groups to prepare for the upcoming pilot phase of the Merchant Buyer Solution, an e-invoicing system scheduled to launch
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Qatar launches six month tax penalty exemption initiative
The General Tax Authority of Qatar has announced the launch of a 100% financial penalty exemption initiative, effective from 1 March 2025. Running for six months, this initiative aims to offer relief to taxpayers, reflecting the Authority's
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Saudi Arabia introduces beneficial ownership reporting rules
Saudi Arabia’s Ministry of Commerce has announced new beneficial ownership reporting requirements, effective from 3 April 2025, as part of the country’s updated Commercial Registry system. The regulations aim to enhance corporate transparency,
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Iraq, Oman finalise tax treaty negotiations
Iraq and Oman finalised negotiations by initialling an income tax treaty on 21 February 2025. Earlier, the Iraq Council of Ministers has approved the negotiation of an income tax treaty with Oman on 28 January 2025. A tax treaty, also known as
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Israel proposes withholding tax on digital asset transactions
Israel’s government proposed draft regulations on 21 November 2024 to impose withholding tax on digital asset transactions, including cryptocurrencies, tokens, and non-fungible tokens (NFTs). A recent ministerial memorandum clarified that
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Bahrain ratifies investment protection agreement with Hong Kong
Bahrain has ratified the Bahrain-Hong Kong Investment Protection Agreement (2024) through Law No. 6/2025 on 13 February 2025. The ratification was published in Official Gazette No. 3795 on the same date. The agreement aims to bolster mutual
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Czech Republic, Iraq finalise income tax treaty
Iraq’s new agency announced in a release that officials from the Czech Republic and Iraq met on 13 February 2025 to discuss bilateral cooperation, including plans to finalise an income tax treaty. The tax treaty aims to eliminate double
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Czech Republic, Gabon begin new tax treaty talks
The Czech Republic and Gabon officials resumed negotiations for an income tax treaty on 18 February 2025. The first round of the new tax treaty negotiations are expected to continue until 21 February 2025. The income treaty aims to prevent
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Turkey: Tax Authority updates inflation adjustment guidelines for 2025 provisional tax periods
Turkey's Revenue Administration published Tax Procedure General Communiqué No. 582 in the Official Gazette on 15 February 2025. This update sets new guidelines for taxpayers regarding inflation adjustments in provisional tax periods. According to
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Saudi Arabia: ZATCA sets criteria for 20th e-invoicing integration phase
The Saudi Zakat, Tax, and Customs Authority (ZATCA) announced the criteria for selecting taxpayers in the 20th wave of the integration phase for the country's new E-Invoicing (FATOORA) requirements. The 20th wave targets all taxpayers whose
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Ghana publishes review of VAT system
Ghana's Ministry of Finance has published a "A Review of Ghana's Value-Added Tax (VAT) System" on 11 February 2025. This report, jointly produced with researchers from the Institute for Fiscal Studies (UK) analyses the design and administration
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UAE consults on implementing e-invoicing
The UAE Ministry of Finance has released a consultation document outlining plans to implement electronic invoicing (e-invoicing). The consultation seeks to: Establish a common understanding of data elements used in e-invoices across business
See MoreSaudi Arabia extends deadline for new zakat rules
Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) has extended the deadline for Zakat payers to apply new regulations for fiscal periods starting before 1 January 2024 to 30 April 2025. The extension was issued in Ministerial Resolution
See MoreNigeria suspends 4% Free On-Board value charge on imports
Nigeria's Federal Ministry of Information and National Orientation, in a release, from the Nigeria Customs Service on 11 February 2025, announced the suspension of the 4% charge on the Free On-Board (FOB) value of imported goods. The charge had
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Kenya introduces new income tax exemption rules for charities
The Kenya Revenue Authority has published a notice on 13 February 2025 regarding the implementation of the Income Tax (Charitable Organisations and Donations Exemption) Rules, 2024. These rules, which came into force on 18 June 2024, outlines the
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South Africa publishes synthesised text of tax treaty with Spain
The South African Revenue Service (SARS) has released a synthesized text of its tax treaty with Spain, reflecting updates from the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
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