South Africa: SARS issues updated guide on taxation
On 1 November 2023, the South African Revenue Service (SARS) issued an updated guide on taxation. This guide providing a high-level overview of the most significant tax legislation administered in South Africa by the Commissioner for the South
See More
UAE: MoF declares new corporate tax decisions for free zones
On 3 November 2023, The UAE Ministry of Finance (MoF) released Cabinet Decision No. 100 of 2023, in which it outlines guidance for determining qualifying income and Ministerial Decision No. 265 of 2023 on qualifying activities and excluded
See More
Saudi Arabia: ZATCA releases drafts of new income tax and tax procedural laws for public consultation
On 25 October 2023, Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) issued drafts of a new Income Tax Law and Zakat and Tax Procedures Law for public consultation. The public consultation period for comments on the drafts is open until 25
See More
Kuwait set to implement corporate income tax for all entities
According to a recent report, the Kuwaiti government is planning to broaden the scope of corporate income tax to include all entities in Kuwait at a rate of 15%, except for small enterprises. Currently, the CIT is 15% for foreign companies carrying
See More
Nigeria: FIRS updates online portal, announces payment deadline for outstanding tax liabilities
The Federal Internal Revenue Service (FIRS) issued a notice that mentioned updates to the TaxPro-Max portal. These updates are expected to alleviate the tax payment issues faced by taxpayers. As per the notice, the payment reference number (PRN)
See More
UAE: FTA releases transfer pricing guide
On 23 October 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Transfer Pricing Guide. This guide is designed to provide general guidance on the Transfer Pricing regime in the UAE with a view to making the
See More
UAE: FTA publishes corporate tax guide on exempt income
On 16 October 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Corporate Tax Guide on Exempt Income: Dividends and Participation Exemption. This guide is designed to provide general guidance to Taxable Persons,
See More
IMF and World Bank annual meetings 2023
The IMF/World Bank annual meetings were held from 9 to 15 October 2023. Improving Tax Capacity in Developing Countries On 15 October 2023, a fiscal forum was held on improving tax capacity in developing countries. The address by Katherine Baer
See More
Uganda releases public notice on implementation of DST
On 20 October 2023, the Uganda Revenue Authority (URA) released a public notice on the implementation of digital service tax (DST). Accordingly, URA informs the general public and non-resident persons providing digital services that the Income Tax
See More
Egypt releases explanatory instructions on transfer pricing reporting obligations
On 19 September 2023, the Egyptian Tax Authority issued Explanatory Instruction No. 78 introducing mandatory transfer pricing reporting obligations for related party transactions. Accordingly, the Tax Authority has set deadlines for submitting
See More
Zambia proposes the Budget for 2024
On 29 September 2023, the Minister of Finance and National Planning, the Honorable Situmbeko Musokotwane , presented the 2024 Budget Speech to the National Assembly of Zambia. Important tax measures proposed in budget include the following:
See More
Saudi Arabia: ZATCA releases proposed amendments to the income tax law
On 25 September 2023, Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) released proposed amendments to the Income Tax Law for public consultation. The proposed amendments to the Income Tax Law primarily focus on the withholding tax applied
See More
Angola introduces tax relief program for voluntary settlement of outstanding tax debts
On 12 September 2023, the General Tax Administration of Angola (Administração Geral Tributária) announced a tax relief program for voluntary settlement of outstanding tax debts. Accordingly, taxpayers can benefit from partial relief from fines
See More
OECD: Responses to Consultation on Amount B of Pillar One
On 20 September 2023 the OECD published the responses to the consultation on Amount B of Pillar One of the two-pillar approach to taxation of the digital economy. Amount B applies to baseline marketing and distribution activities, simplifying the
See MoreUN: High-Level Dialogue on Financing for Development
On 20 September 2023 the UN held a high-level dialogue on financing for development, including a session on Promoting inclusive and effective international tax cooperation and mobilizing domestic resources. Keynote addresses were given by the
See MoreIMF Urges Lebanon to Improve Revenue Mobilisation
On 15 September 2023 the IMF issued a report following consultations with Lebanon under Article IV of the IMF’s articles of agreement. The IMF considers that the lack of action on reforms has caused problems for Lebanon’s economy. The country
See More
Saudi Arabia decreases withholding tax rate on technical and consulting services
On 15 September 2023, Saudi Arabia published Decision No. (25) of 8/01/1445H (26 July 2023) in the Official Gazette. The Decision came into force on the same date of its publication. One of the main changes of the Decision was decreasing the
See More
Kenya: KRA publishes draft transfer pricing rules 2023
On 4 September 2023, the Kenya Revenue Authority (KRA) published draft income tax (Transfer Pricing) rules 2023 for public comment. The income tax rules are designed to harmonize with the provisions of the Finance Act 2022, which introduced
See More