Nigeria to launch e-invoicing for improved tax compliance
Nigeria’s Federal Inland Revenue Service (FIRS) announced it will introduce the FIRS e-invoicing system under the the Tax Administration and Enforcement Act 2007 on 18 September 2024. The FIRS e-invoicing system will be an online digital
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Singapore, Rwanda sign protocol to amend tax treaty
Singapore and Rwanda have signed an amending protocol to the “Government of the Republic of Singapore and the Government of the Republic of Rwanda for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on
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Nigeria reinstates cybersecurity levy with reduced rate
Nigeria’s Central Bank (CBN) announced that it is reintroducing a 0.005% levy on all electronic transactions conducted by banks and financial institutions under the “Cybercrime (Prohibition, Prevention, etc.) Act, 2015” on 17 September
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Australia, UAE end CEPA negotiations
Australia and the United Arab Emirates (UAE) have ended negotiations for a comprehensive economic partnership agreement (CEPA). Australia’s Department of Foreign Affairs and Trade made the announcement on 17 September 2024. On 13 December 2023,
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Estonia ratifies income tax treaty with Qatar
Estonia ratified a tax treaty with Qatar, the Act was published in the Official Gazette on 18 September 2024. It will take effect once the ratification instruments are exchanged and will apply from 1 January of the year after it comes into
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Oman, Philippines negotiate income tax treaty
The Philippine News Agency reported that negotiations are currently in progress for an income tax treaty between Oman and the Philippines, on 13 September 2024. The Omani government hopes to see increased mutual trade and investment promotions,
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Kenya consults proposed tax treaty with Switzerland
Kenya's National Treasury has initiated a public consultation regarding the proposed income tax treaty with Switzerland, a public notice inviting comments was published on 11 September 2024. The tax treaty is aimed to prevent double taxation with
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Egypt simplifies tax environment for businesses
The Egyptian Ministry of Finance announced a series of initiatives aimed at improving the tax environment for businesses; introducing a simplified tax regime for businesses with a turnover of up to EGP 15 million, covering small businesses, sole
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Kenya: Parliament approves BEPS MLI
Kenya's National Assembly approved the ratification of the Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (MLI). This follows after Kenya ratified the Multilateral Convention to
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Turkey revises special consumption tax for certain tobacco products
Turkey’s government has introduced changes to the special consumption tax (SCT) rates and fixed tax amounts for certain tobacco products through Presidential Decree No. 8958, published in the Official Gazette No. 32662 on 14 September 2024. The
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Italy approves income tax treaty with Libya
Italy’s Senate ratified the pending income tax treaty with Libya on 11 September 2024. Signed on 10 June 2009, this agreement is the first between the two nations, and aims to promote economic cooperation and avoid double taxation between the
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Argentina, Turkey tax treaty enters into force
The income tax treaty between Argentina and Turkey came into effect on 13 September 2024. The treaty applies from 1 January 2025. Signed on 1 December 2018, this treaty is the first between the two nations. Earlier, Argentina ratified the tax
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Turkey updates CbC reporting notification deadline
Turkey Revenue Administration introduced amendments to the country's transfer pricing regulations which revises the deadlines and authority responsible for overseeing transfer pricing compliance, particularly for Country-by-Country (CbC) reporting,
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OECD: Report on Simplified Peer Review of Egypt under BEPS Action 14
On 16 September 2024 the OECD published the simplified peer review report on Egypt under Action 14 of the project on base erosion and profit shifting (BEPS). The report sets out the results of Stage 1 of the simplified peer review of the
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OECD: Report on Simplified Peer Review of Nigeria under BEPS Action 14
On 16 September 2024 the OECD published the simplified peer review report on Nigeria under Action 14 of the project on base erosion and profit shifting (BEPS). The report sets out the results of Stage 1 of the simplified peer review of the
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Kenya publishes guidance on PIN registration compliance for individuals, non-individual entities
The Kenya Revenue Authority has released guidance on compliance regarding Personal Identification Number (PIN) registration for individuals and non-individual entities, including companies, trusts, clubs, and similar organisations. The guidance
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Malaysia, Turkey FTA protocol enters into force
The amending protocol to the 2014 free trade agreement (FTA) between Malaysia and Turkey entered into force on 1 August 2024. The FTA covers trade in goods, including market access, rules of origin, customs procedures and facilitation, sanitary and
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Estonia ratifies income tax treaty with Qatar
The Estonian parliament approved the ratification of the pending income tax treaty with Qatar on 11 September 2024. The treaty was Signed by HE Ali bin Ahmed Al Kuwari, Qatari Minister of Finance, and HE Tiit Riisalo, the Estonian Minister of
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