South Africa: National Treasury consults on sugar tax amendments
Proposed changes to the tax on sugar-sweetened beverages (SSBs) were introduced in the recently announced 2017-18 Budget. The South African National Treasury has issued a list of questions and answers on the changes to the proposed tax. The National
See MoreGhana: Proposes the Budget for 2017
The Minister of Finance presented the Budget for 2017 to Parliament on 2 March 2017. The following tax measures are proposed in the Budget: Capital gains tax (CGT): Exemption from CGT on gains realised from the sale of securities listed on the
See MoreDTA between Jersey and Mauritius signed
A Double Taxation Agreement (DTA) between Jersey and Mauritius for the avoidance of double taxation and the prevention of fiscal evasion was signed on 3 March 2017 in
See MoreCabinet of Bangladesh authorized to sign a DTA with Qatar
On 27 February 2017, the cabinet of Bangladesh authorized the signing of a Double Taxation Agreement (DTA) with Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreSouth Africa: Government increased the rate of dividends withholding tax (DWT) from 15% to 20%
The 2017 Budget Speech delivered by Minister Gordhan on 22 February 2017 increased the rate of Dividends Withholding Tax (DWT) from 15% to 20%. To reduce the difference between the combined statutory tax rate on dividends and the top marginal
See MoreNigeria: Announcement on repealed company registration forms
The Corporate Affairs Commission (CAC) announced the roll out of Form CAC 1.1 to replace and consolidate forms CAC 2, CAC 2.1, CAC 4 and CAC 7 (“the repealed forms”) on 24th February 2017 for the company registration. Companies in excess of five
See MoreOman: Key changes to income tax law
On 26 February 2017, the Oman Government has passed a Royal Decree 9/2017 in the Official Gazette with a number of significant changes to Income Tax Law 2010. The major changes passed by the Royal Decree are following: An increase in the
See MoreTIEA between Norway and UAE enters into force
The Exchange of Information Agreement regarding tax matters (TIEA) between Norway and the United Arab Emirates that was signed in 2015 entered into force on 15th February 2017. This treaty generally applies from 15th February 2017 for criminal tax
See MoreDTA between Qatar and Tajikistan authorized
The signing of the initialed Income and Capital Tax Treaty between Qatar and Tajikistan was authorized by the Cabinet of Qatar on 22nd February
See MoreTurkey: Decree 2012/3305 on investment incentives regime amended
A Decree 2017/9917 regarding the investment incentives regime, which amends Decree 2012/3305, was published on 22nd February 2017 in the official gazette. This decree entered into force on the day of its publication. According to the amended
See MoreSouth Africa: Transfer pricing proposals in 2017 budget
The Finance Minister of South Africa on 22 February 2017 delivered the budget speech to Parliament. In his speech the Minister mentioned the government’s plan for implementing a statutory transfer pricing regime in South Africa. The government
See MoreSouth Africa: Finance Minister presents the Budget for 2017-2018
The Finance Minister of South Africa presented the Budget for 2017-18 to the Parliament on 22 February 2017. The main tax proposals of the Budget are given below. The 2017/18 tax year sees the introduction of a new top marginal income tax bracket
See MoreQatar: Draft law on selective tax on goods approved
The Finance Ministry has prepared the draft law in accordance with the GCC unified agreement for selective tax, and the GCC Supreme Council decision recently issued in the 37th session held in the Kingdom of Bahrain. The decision specifies the
See MoreUAE: Planning to introduce VAT by 2018
During the World Government Summit Ministry of Finance officials from the United Arab Emirates (UAE) announced they are to implement VAT by 1st January 2018. Also, the Finance Undersecretary has reiterated the Gulf Cooperation Council (GCC) Member
See MoreDTA between Macedonia (FYR) and UAE enters into force
The Income Tax Treaty of 2015 between Macedonia (FYR) and United Arab Emirates entered into force on 8th February 2017. The treaty will be applicable from 1st January
See MoreAngola: Tax Administration extends deadline for payment of first installment of urban property tax
The deadline for payment of Real Estate Property Tax (IPU) has been extended from January 2017 to February 28 2017. The Angolan Tax Administration issued, on 31 January 2017, a press statement announcing the extension of the deadline for the payment
See MoreAngola: Tax provisions released in Budget Law 2017
The budget law 2017 was officially made available to the public on 10th February 2017. The budget law was approved by the National Assembly on 17 November 2017 and was enacted on 31 December 2016. According to Budget Law 2017, the 10% withholding
See MoreSaudi Arabia-Intergovernmental agreement to implement FATCA approved
The cabinet of Saudi Arabia officially approved the Intergovernmental Agreement (IGA) between Saudi Arabia (KSA) and the United States (US) on 6 February 2017. The agreement would improve international tax compliance and implement the Foreign
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