Africa Tax in Brief
DJIBOUTI: International Free Trade Zone launched
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”.
- The SGX and the New Capital Market
- Finance Bill 2019: CIT Reduction and Optional Extension of Interest Limitation Rules on Fiscal Unity Level
- Merger Clearance Matters
- CJEU Clarifies Abuse and Beneficial Ownership Concepts under the Parent Subsidiary and Interest/Royalty Directive
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