UAE amends provisions of tax penalties
On 28 April 2021, the United Arab Emirates (UAE) Cabinet of Ministers issued Resolution No. 49/2021, which amends Cabinet Resolution No. 40/2017 in relation to administrative penalties for the violation of tax laws in the UAE. Cabinet Resolution
See MoreIMF: Financing needs for Africa
On 18 May 2021 a talk by the Managing Director of the IMF at a summit on the financing of African countries noted that Africa needs to take full advantage of the shifts in the global economy toward digital-driven, low-carbon and climate resilient
See MoreKenya publishes Finance Bill 2021
On 5 May 2021, the Parliament of Kenya has published the finance bill 2021 providing the following tax measures: Reintroduce the definition of the term ‘‘Control” The definition of the term “control” was deleted with the
See MoreJordan: ISTD invites taxpayers to file 2020 income tax return & payment
On 16 May 2021, Jordan’s Income and Sales Tax Department (ISTD) called the taxpayers required to submit income tax returns for the fiscal year 2020 who did not submit them during the legal period that ended at the beginning of this week and the
See MoreAfrican Tax Administration Forum Releases New Pillar One Proposals
The African Tax Administration Forum (ATAF) has issued a revised set of Pillar One Proposals in response to the OECD's blueprint reports released late last year and the recent proposals put forth by the United States. The proposals suggest
See MoreTurkey extends income and corporate provisional tax returns
On 3 May 2021, the Turkish Revenue Administration has issued Circular No. 134, which extends the submission and payment periods of the Income and Corporate Provisional Tax Returns for 2021. According to the announcement, the Provisional Tax
See MoreKenya: High Court suspends the implementation of minimum tax
On 19 April 2021, the Kenyan High Court issued an order suspending the implementation of the new Kenyan minimum tax on gross corporate income. The suspension order has been issued the day before the first installment of the tax was due. The Kenya
See MoreSaudi Arabia issues circular on Force of Attraction rule in the Context of PE
The Saudi Arabian General Authority for Zakat and Tax (GAZT), in April 2021, published Circular No. 2104001, entitled Force of Attraction rule in the context of permanent establishment (pdf). The Circular confirms the GAZT’s approach to applying
See MoreTurkey increases CIT rate for the tax year 2021 and 2022
On 22 April 2021, Turkey has announced that the Draft Law has entered into force which was submitted to the Turkish Parliament regarding an increase in corporate income tax (CIT) rate for the tax years 2021 and 2022. Through the Law, the
See MoreAlgeria: DGT issues a communiqué to extend the filing deadline of tax return 2020
The Directorate General of Taxes has recently issued a communiqué, which provides extension of filing deadline of annual tax returns (including balance sheet and appendices) 2020 until 30 June 2021 for all
See MoreIsrael extends tax return submission deadline for the 2020 tax year
On 7 April 2021, the tax authority of Israel declared the extended deadline for submitting annual income tax returns in response to the Covid-19 pandemic. The declaration includes that the deadline is extended to 30 June 2021 for submitting annual
See MoreKenya: Tax Appeal Tribunal issues rule on a case of management fees
On 1 April 2021, the Kenyan Tax Appeals Tribunal (TAT) ruled on tax disputes between McKinsey and Company Inc. Africa Limited (McKinsey / the Appellant) and the Kenya Revenue Authority (KRA / the respondent) in relation to withholding tax (WHT) on
See MoreGhana enacts Budget for 2021
On 31 March 2021, Ghana’s 2021 budget statement and economic policy passed by the Parliament and having received presidential assent. There are measures allowing for waiver of tax penalties and interest on accumulated tax arrears up to 31
See MoreTurkey intends increase in CIT rate for the tax year 2021 and 2022
On 2 April 2021, the Turkish Government submitted a Draft Law to the Turkish Parliament. Through the Draft Law, Turkey intends to increase the corporate income tax (CIT) rate for the tax years 2021 and 2022. The proposed tax rate is 25% for 2021
See MoreNigeria: FIRS issues a public notice on tax installment payments
On 29 March 2021, the Federal Inland Revenue Service (FIRS) issued a public notice to the general public, taxpayers and tax practitioners to provide clarification on instalment payments in line with the provisions of the Finance Act, 2019. The
See MoreNigeria: FIRS issues a notice regarding process for making CIT payments
On 29 March 2021, the Federal Inland Revenue Service issued a notice, which clarifies application process of how to remit corporate income tax (CIT) payments in installments. The first installment must be done on or before the due date of
See MoreMorocco declares maximum interest rate 1.63% on shareholder loans
On 18 March 2021, Morocco has published Ministerial Decree 423.21 in the Official Gazette regarding the reduction of maximum interest rate for loans granted by direct shareholders from 2.23% to 1.63% for FY 2021. Interest expense on loans will
See MoreNamibia: MOF publishes the 2021/22 Budget Statement
On 17 March 2021, the Ministry of Finance has published the budget statement for 2021/22 providing the following tax reforms: There were no proposed increases or changes to the main tax brackets.Budgeted expenditure for the 2022 year will be
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