Africa tax in brief
The first phase of the Djibouti International Free Trade Zone (“DIFTZ”), expected to be the largest free trade zone in Africa, was launched on 5 July 2018. The DIFTZ will house a variety of manufacturing plants and offer investors various incentives, including tax exemptions.
GHANA: 2018 Tax amendment bills passed
Significant amendments include:
GHANA: Petroleum (Exploration & Production) (General) Regulations, 2018 presented to parliament
The FIRS also published the CbCR Notification Form, which is to be completed and submitted annually by multinational enterprise group entities in Nigeria that are obligated to file CbC reports.
The Tanzania Revenue Authority (“TRA”), on 11 July 2018, announced the implementation of a tax amnesty scheme (“TAS”), as provided for by the Finance Act, 2018. The TAS provides a waiver of all interest and penalties due on such liabilities, provided the taxpayer submits a written undertaking to voluntarily settle the principal amount due at the latest by 30 June 2019. Controversially, the amnesty does not extend to the principal amount of tax due and taxpayers first need to acknowledge a tax debt before being able to qualify for amnesty in respect of penalties and interest on such amount.
However, the system does not cater for taxpayers not registered with the TRA and, accordingly, non-residents not registered in Tanzania will have to apply to the TRA for a “paper certificate”.
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