Turkey increases refund limit for transactions subject to the reduced VAT rate
The Turkish Official Gazette published Communique No. 53 on 30 December 2024, which outlines changes to the VAT refund threshold subject to the reduced VAT rate for 2025. According to the new regulation, the VAT refund threshold has been
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Turkey updates VAT refund limit for 2025
Turkey released VAT General Communiqué No. 53, Number: 32768 (2nd Duplicate) in the Official Gazette on 30 December 2024, updating the VAT refund limit for transactions subject to reduced VAT rates. The refund cap for the 2025 tax year has been
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Oman gazettes Domestic Minimum Top-up Tax, Income Inclusion Rule
Oman issued Royal Decree No. 70/2024 in the Official Gazette on 5 January 2025 introducing Domestic Minimum Top-up Tax and Income Inclusion Rule (IIR). Earlier, the Oman Tax Authority confirmed that a Royal Decree issued which implements a
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Algeria gazettes Finance Law 2025, introduces amendments to CIT and VAT
Algeria’s Ministry of Finance published the Finance Law 2025 in the Official Gazette on 26 December 2024, providing amendments for corporate taxation and VAT amongst various direct and indirect taxation policies. Corporate income tax The
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South Africa gazettes Global Minimum Tax Act
South Africa published the Global Minimum Tax Act, 2024 (the GMT Act), in the Official Gazette on 24 December 2024. The legislation introduces two main components: an Income Inclusion Rule and a Domestic Minimum Top-up Tax, while notably
See MoreOman introduces Domestic Minimum Top-Up Tax for MNEs
The Oman Tax Authority has confirmed that a Royal Decree has been issued which implements a domestic minimum top-up tax, with a minimum effective tax rate of 15%, for multinational enterprise (MNE) groups in Oman, provided that these groups
See MoreKuwait introduces supplementary domestic minimum top-up tax for MNEs
Kuwait's Ministry of Finance announced on X that a supplementary domestic minimum top-up tax (DMTT) for large multinational enterprises (MNEs) has been introduced through Decree No. (157) of 2024 on 30 December 2024. The Decree is designed to
See MoreTurkey extends income tax incentives for tech, R&D employees
Turkey has announced an extension of income tax withholding incentives for employees in technology development zones and R&D or design centers. According to Presidential Decision No. 9368 on 27 December 2024, employees working outside these
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Saudi Arabia: ZATCA announces criteria for 19th wave of e-invoicing integration
The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has announced the eligibility criteria for Group 19 taxpayers in the integration phase of e-invoicing on 27 December 2024. The 19th phase will include all taxpayers whose revenues
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Nigeria: President presents 2025 budget
The President of Nigeria, Bola Ahmed Tinubu, presented the 2025 Budget titled “The Restoration Budget: Securing peace, Rebuilding prosperity” during a joint session of the 10th National Assembly on 18 December 2024. The budget is a record high
See MoreTurkey introduces 1% withholding tax on e-commerce intermediary payments
Turkey's Revenue Administration has announced the issuance of Presidential Decision No. 9284, introducing a 1% withholding tax rate on payments made by intermediaries to service providers engaged in activities under Law No. 6563 on the Regulation of
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Qatar: Parliament approves introduction of Pillar Two global minimum tax
Qatar's General Tax Authority has announced that the Shura Council (parliament) has approved amendments to implement measures for the Pillar Two global minimum tax. During its regular weekly session convened on 23 December 2024 at the Council’s
See MoreTurkey increases withholding tax on dividend distributions
The Revenue Administration of Turkey has announced the release of Presidential Decision No. 9286 on 22 December 2024, updating the withholding tax rate on dividend distributions. The withholding tax rate on dividends distributed under Article 94
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Morocco publishes Finance Law 2025
Morocco has published Finance Law 2025 on the Ministry of Finance website on 20 December 2024. Earlier, Morocco’s Ministry of Finance released the draft Finance Law 2025 on 19 October 2024, proposing various measures for corporate income tax,
See MoreSouth Africa: National Treasury, SARS consult draft Revenue Laws Amendment Bill (RLAB)
The National Treasury and the South African Revenue Service (SARS) published the 2025 draft Revenue Laws Amendment Bill (RLAB) for public comment on 13 December 2024. This announcement was also made on the same day. This draft tax bill
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Oman ratifies tax treaty with Luxembourg
The Sultan of Oman issued a royal decree 64/2024 ratifying the income and capital tax treaty with Luxembourg on 18 December 2024. Earlier, Luxembourg and Oman have signed an income tax treaty on 17 October 2024. HE Sheikh Dr Abdullah bin Salem
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Kenya: KRA updates PAYE rules under Tax Laws (Amendment) Act 2024
The Kenya Revenue Authority has published a notice outlining changes to the PAYE computation following the enactment of the Tax Laws (Amendment) Act, 2024. The following changes shall be applicable in the computation of PAYE for December 2024 and
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Oman, Tanzania sign tax treaty
Oman and Tanzania have signed a tax treaty in Muscat on 15 December 2024. The agreement was signed by HE Nasser bin Khamis Al Jashmi, Chairman of Oman’s Tax Authority, and HE Dr. Mwigulu Lameck Nchemba, Tanzania’s Minister of Finance and
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