Saudi Arabia: MLI enters into force
On 1 May 2020, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force with respect to Saudi Arabia. On 23 January 2020, Saudi Arabia deposited its instrument of
See MoreEgypt approves Law adopting a number of financial rules amid COVID-19 pandemic
On 7 May 2020, the Egyptian President Abdel Fattah El-Sisi has approved Law 24 of 2020 regarding some financial rules in response to COVID-19 pandemic, along with other decisions that include important facilities regarding the real estate tax,
See MoreEthiopia: Council of Ministers adopts economic measures due to COVID-19 pandemic
On 26 April 2020, the Council of Ministers of Ethiopia has adopted a number of economic measures in response to coronavirus outbreak. Following the decision of the Council of Ministers, the Ministry of Finance has issued Directive No.64/2020
See MoreKenya publishes finance bill 2020 including taxation of digital economy
On 5 May 2020, the Kenya government published the Finance Bill, 2020 that includes a proposal for digital services tax and minimum tax. The bill proposes that income from services earned through a digital marketplace in Kenya will be taxed at the
See MoreKenya submits the finance bill 2020 to parliament
On 6 May 2020, the finance bill for 2020 was presented to the National Assembly National Assembly for its consideration. The bill includes the following proposals related to corporate income tax; Introduction a minimum tax payable at 1% of gross
See MoreGhana: Parliament approves tax measures in response to COVID-19 outbreak
On 1 May 2020, the Parliament of Ghana passed the Income Tax (Amendment) Bill 2020 to introduce several emergency tax measures in response to Covid-19 pandemic. The approved income tax measures are as follows: An individual who makes withdrawals
See MoreAlgeria: Council of Ministers organizes a meeting regarding draft Finance Bill 2020
On 10 May 2020, the Council of Ministers arranged a meeting by video conference regarding the discussion and approval of draft Finance Bill 2020. In that meeting, following issues were coming up: The deadline extension of the 50% reduction in
See MoreNigeria: FIRS issues several Circulars on provisions of tax laws amended by Finance Act 2019
On 9 May 2020, the Federal Internal Revenue Service (FIRS) issued the following Information Circulars numbered through 2020/02 – 08. The Circulars provides guidance to stakeholders regarding the interpretation of the amendments to extant tax laws
See MoreSaudi Arabia: Government hikes VAT to 15% as of July 2020
On 10 May 2020, the Saudi Arabia Government has decided to raise value-added tax (VAT) from 5% to 15% on all goods and services as of July 2020. The government will also suspend the cost of living allowance from June as part of the austerity steps.
See MoreEgypt extends deadline submitting the electronic VAT return amid COVID-19
On 29 April 2020, the Egyptian Tax Authority has announced that the date for submitting the electronic value-added tax (VAT) return for February 2020 has been extended until 10 May 2020 in response to COVID-19
See MoreCOVID-19: Mozambique announces tax relief measures due to coronavirus
The Council of Ministers Mozambique approved the Decree No. 23/2020, of 27 April which includes a number of fiscal and customs measures in response to coronavirus pandemic. The Decree contains the following measures that are valid until 31
See MoreNigeria: FIRS announces new measures for coronavirus impact
The Federal Inland Revenue Service (FIRS) made some announcement of tax measures during COVID-19 outbreak: On 30 April 2020, the FIRS published a Public Notice, which provides that no interest and penalties will be charged to taxpayers having
See MoreEgypt: Tax measures in response to COVID-19 pandemic
Recently, the Egyptian Government has announced several tax measures to mitigate the financial effect in response to the COVID-19 pandemic. The main tax measures are as following: Capital Gains: the extension of the suspension from the taxation
See MoreSouth Africa: National Treasury announces additional VAT relief for COVID-19
On 23 April 2020, the National Treasury issued a statement regarding value added tax (VAT) relief measures due to coronavirus pandemic. This includes: Implement a VAT refund tracking procedure by the help of smaller VAT vendors, which
See MoreTurkey extends CIT return filings and payments deadline for 2019
On 17 April 2020, the Turkish Revenue Administration has published Circular No 127 on its website regarding the extension of Corporate Income Tax (CIT) return filings and payments deadline for the fiscal year 2019. The CIT returns for the fiscal
See MoreTurkey issues Draft General Communiqué on disguised profit distribution
On 16 April 2020, the Turkish Revenue Administration has issued Draft General Communiqué on disguised profit distribution amending General Communiqué no. 1 on Transfer Pricing. The Draft Communiqué No. 4 implements the Presidential
See MoreAngola: Tax measures due to COVID-19 pandemic
On 13 April 2020, the Ministry of Finance of Angola has issued a press release regarding tax measures in the scope of the response and relief of the economic impact caused by the COVID-19 pandemic. The main measures are as following: Extension
See MoreOman ratifies multilateral instrument
On 31 March 2020, the Sultan of Oman issued the royal decree for the ratification of the multilateral convention for the implementation of the double taxation agreement (DTA) related measures to prevent base erosion and profit shifting (MLI). Now
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