Africa Tax in Brief
A transfer pricing unit, set up as an administrative technical structure forming part of the Large Taxpayers Directorate of the General Tax Administration, was launched on 25 September 2017 and will be responsible for monitoring compliance with Angola’s transfer pricing regime introduced by Presidential Decree No.147/13 of 1 October 2013.
ETHIOPIA: Treaty with Cyprus enters into force
The Cyprus/Ethiopia Income Tax Treaty, 2015 entered into force on 19 October 2017 and will generally apply from 1 January 2018 in Cyprus and from 8 July 2018 in Ethiopia.
GHANA: Amended VAT Regulations for the pharmaceutical industry approved
The Value Added Tax ("VAT") (Exemption of Active Ingredients, Selected Inputs and Selected Drugs or Pharmaceuticals) (Amendment) Regulations, 2017 were approved by parliament on 3 November 2017. In terms of the Regulations, the 17.5% VAT/National Health Insurance Levy on selected imported medicines that are not produced locally, is abolished pursuant to the 2017 Budget.
GHANA: Electronic system for tax exemptions proposed
The Ministry of Finance, on 2 November 2017, announced the planned launch of an electronic tax exemption system, intended to deal with, inter alia, the application, approval and granting of exemption from taxes and import duty waivers, with effect from January 2018.
GHANA: Corporate tax exemption for private universities proposed
It is envisaged that the GRA will bear the cost of the initial distribution of the FEDs and taxable persons authorised to operate their own invoice generating systems will be required migrate to the use of the FEDs.
KENYA: Market interest rate for fringe benefit tax published
The Bill is currently awaiting presidential assent.
SOUTH SUDAN: Financial Act 2017/18 enacted
ZAMBIA: Treaty with Norway enters into force
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