Turkey ratifies FTA with Ukraine
The President of Turkey Recep Tayyip Erdogan ratified the Free Trade Agreement (FTA) with Ukraine, published in Official Gazette No. 32682 on 4 October 2024. The FTA between the two nations was signed on 3 July 2022, in Kyiv, Ukraine. It aims to
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Saudi Arabia ratifies tax treaty with Qatar
Saudi Arabia's Shura Council ratified the income tax treaty with Qatar on 2 October 2024. Previously, Qatar and Saudi Arabia signed an income tax treaty on Thursday, 30 May, 2024. The treaty, which is a first of its kind between the two Gulf
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Nigeria presents four tax reform bills to National Assembly
Nigeria’s President presented four bills to the National Assembly outlining measures to revise tax laws and modernise Nigeria’s tax system on 3 October 2024. The bills have been forwarded to the House Committee on Finance for review and
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Ireland ratifies income tax treaty with Oman
Ireland has officially released the Double Taxation Relief (Taxes on Income) (Sultanate of Oman) Order 2024, paving the way for the ratification of an income tax treaty with Oman. Previously covered, Officials from Ireland and Oman signed an
See MoreNigeria gazettes VAT modification order 2024, introduces new fiscal incentives for oil and gas sector
Nigeria’s Federal Ministry of Finance has unveiled two major fiscal incentives aimed at revitalising Nigeria's oil and gas sector on 2 October 2024. These are Value Added Tax (VAT) Modification Order 2024, which has been published in the
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UAE: FTA urges Resident Juridical Persons with licences issued in August and September to register for corporate tax before end of October
The UAE Federal Tax Authority (FTA) has urged Resident Juridical Persons with licences issued in August and September to submit their Corporate Tax registration applications by 31 October 2024 to avoid administrative penalties. The announcement
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UAE amends executive regulations on VAT
The Ministry of Finance announced that the UAE Cabinet has approved Decision No. 100 of 2024, which amends certain provisions of the Executive Regulations of Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT) on 5 October 2024. These
See MoreNigeria gazettes new withholding tax regime
Nigeria’s Federal Ministry of Finance has announced the Deduction of Tax at Source (Withholding) Regulations 2024 has been published in the official gazette on Wednesday 2 October 2024. The commencement date of the new Regulations is 30
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South Africa publishes guidance for taxation of small businesses
The South African government has released a revised tax guide for small businesses for the 2023/24 fiscal year on 26 September 2024. It deals with the taxation of small businesses such as sole proprietors, partnerships and companies not part of
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Ethiopia introduces VAT exemptions on water, electricity, mass transport services for low-income groups
The Ethiopian Ministry of Finance published VAT Directive No. 1341/2024, outlining the application of VAT on water, electricity, and transport services on 29 August 2024. The South African government has updated the value-added tax (VAT) policy
See MoreTurkey ends requirement for purchase, sales notifications
Turkey has abolished the necessity of submitting the Notification on Purchases of Goods and Services (Form Ba) and the Notification on Sales of Goods and Services (Form Bs) starting from the September 2024 reporting period. The initiative aims to
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Zambia presents 2025 budget, introduces limited tax measures
Zambia's Ministry of Finance and National Planning Minister Situmbeko Musokotwan presented the 2025 Budget Speech to the National Assembly on 27 September 2024. The budget focuses on revenue generation through limited tax measures without
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Kuwait, San Marino sign income and capital tax treaty
Kuwait's Ministry of Foreign Affairs announced that officials from Kuwait and San Marino signed an income and capital tax treaty on 27 September 2024. HE Abdullah Ali Al-Yahya, Minister of Foreign Affairs of Kuwait, met with HE Luca Beccari,
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Kuwait ratifies tax treaty with Iraq, amending treaty protocol with South Africa and Switzerland
Kuwait ratified income tax treaty with Iraq and amending protocol to the treaty with South Africa and Switzerland on 18 September 2024, published in Official Gazette No. 1705 on 22 September 2024. The income and capital tax treaty with Iraq was
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Zambia presents 2025 budget
Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, presented the 2025 National Budget to the National Assembly on Friday, 27 September 2024. “The 2025 budget is premised on economic recovery and promoting growth to
See MoreSouth Africa updates corporate income tax return form, allows additional allowance for renewable energy production
The South African Revenue Service (SARS) has updated the corporate income tax return form (ITR14 form), allowing taxable entities to claim section 12BA allowances on 16 September 2024. The 12BA allowance offers a 125% enhanced allowance for
See MoreTurkey clarifies electronic notification rules in tax procedure law
Turkey’s Ministry of Treasury and Finance has clarified taxpayers' obligations under the Electronic Notification Process in the Tax Procedure Law (TPL), published General Communiqué No. 568 in the Official Gazette, on Wednesday, 25 September
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Saudi Arabia: ZATCA sets criteria for selecting taxpayers for wave 16 of e-invoicing, compliance starts 1 April 2025
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) announced the criteria for selecting the targeted taxpayers in the Sixteenth Wave for implementing the "Integration Phase" of E-invoicing on 27 September 2024. ZATCA also clarified that
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