DTA between Egypt and Uzbekistan enters into force
On 25 March 2019, the Double Taxation Agreement (DTA) between Egypt and Uzbekistan was entered into force. The DTA applies from 1 January 2020. The agreement contains Dividends rate 5% for at least 25% capital holding; otherwise 10%, Interest
See MoreAngola signs DTA with Maldives
On 8 August 2019, the Double Taxation Agreement (DTA) between Angola and Cape Verde signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in
See MoreEgypt amends interest rate for late payment of tax
On 4 August 2019, the Ministry of Finance issued Decision No 484 of 2019 in the Official Journal. The decision entered into force on 5 August 2019. The decision sets interest rates on unpaid taxes amending the Implementing Regulation to the Income
See MoreSaudi Arabia signs MCAA for the exchange of CbCR
On 6 August 2019, Saudi Arabian Government signed the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country reports (CbCR). According to OECD, total signatories to the agreement CbC MCAA are now 80.
See MoreUganda: Parliament passes Income Tax (Amendment) Act 2019
On 30 June 2019, Ugandan Parliament has passed Income Tax Amendment Act 2019. The act contains a number of measures including definition of beneficial owner to reduce the threshold required for exemption; to provide for withholding tax by a seller
See MoreTanzania: Government publishes Finance Act, 2019
The Tanzanian Government has published the Finance Act, 2019 in the Official Gazette on 30 June 2019 and it became effective from 1 July 2019. On 13 June 2019, Philip Mpango, the Finance Minister, presented the Budget for financial year (FY)
See MoreUkraine signs amending protocol to DTA with UAE
On 24 July 2019, the Cabinet of Ukraine approved to sign an amending protocol to the Double Taxation Agreement (DTA) with United Arab Emirates (UAE). The provisions of the draft protocol fully comply with the requirements with the Organization for
See MoreQatar publishes ministerial decision about CbCR in the official Gazette
On 17 June 2019, Qatar’s Ministry of Finance published Ministerial Decision No. 16 in the official Gazette implementing new obligations of country-by-country reporting (CbCR) requirement from 2018. The decision mainly clarifies about eligible
See MoreSouth Africa publishes draft taxation amendment bills 2019 for public comment
On 21 July 2019, the South African Revenue Service (SARS) and the National Treasury has published 2019 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2019 Draft Tax Administration Laws Amendment Bill (Draft TALAB) for public
See MoreAlgeria: DGI issues a guideline on electronic tax declaration
The Algerian tax agency Direction Generale des Impots (DGI) has recently published a guideline on electronic tax declaration and payment procedures. The guideline provides the following information: requirements to access the electronic
See MoreOman introduces tax incentives for tourism investments
Recently, Oman has introduced a tax incentive for every new investor looking to build a tourism project in Musandam. According to the new regulation, investors are exempted from customs duties for building materials, tools and equipment
See MoreQatar: GTA issues additional CbC reporting obligations
On 16 June 2019, Qatar's General Tax Authority (GTA) has issued a notice prescribing further updates and clarifications for the Country-by-Country (CbC) reporting obligations in Qatar. Key points of CbC reporting obligations are as follows:
See MoreSouth Africa: Tax benefits for investors through Section 12J VCC regime
In 2009 Government implemented a tax incentive for investors in privately owned entrepreneurial businesses in South Africa to assist small and medium sized enterprises (SMEs) with access to equity finance. Individuals, companies and trusts (any SA
See MoreSaudi Arabia: GAZT holds seminar to simplify the transfer pricing regulations
On 17 June 2019, the General Authority of Zakat and Tax (GAZT) of Saudi Arabia has organized a transfer pricing seminar in Riyadh to simplify the key areas of the transfer pricing (TP) regulations published on 15 February 2019 and to address
See MoreKenya: Finance Minister proposes Budget for the Financial Year 2019/20
On 13 June 2019, the Finance Minister, Henry Rotich of Kenya presented the budget for 2019/20 to the parliament. The budget includes the following tax related measures: Capital Gains Tax is proposed to be increased from 5% to 12.5%. There is
See MoreTanzania: Finance Minister presents Budget for FY 2019/2020
On 13 June 2019, Philip Mpango, the Finance Minister of Tanzania, presented the Budget for financial year (FY) 2019/2020 to the National Assembly. The finance minister said that total domestic revenue including Local Government Authorities (LGAs)
See MoreUganda: MoF presents 2019/20 Budget
On 13 June 2019, Matia Kasaija, the Uganda's Ministry of Finance (MoF) presented the Budget for 2019/20 to the Parliament of the Republic of Uganda. On that day, Income Tax (Amendment) Act, 2019 was also enacted which was presented in the
See MoreNigeria: TP returns due on 30 June
It’s a reminder for the companies with a 31 December year-end required to file a transfer pricing (TP) return by 30 June 2019. Pursuant to the Transfer Pricing Regulations of 2018, existing companies with financial year-end of 31 December 2018
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