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The Minister of Finance has tabled Tax Amendment Bills in Parliament. This brief is a summary of the tax and administrative changes that will take effect on July, 1 2022 if passed by Parliament and assented to by the President. It is important to emphasize that these are tax proposals, they are...
The National Treasury Cabinet Secretary (CS), Ukur Yattani, delivered the 2022/2023 Budget Speech. The 2022/2023 budget is worth Sh3.31 trillion.Download the our this document to get a snapshot of the Kenyan economy as well as the amendments propsed by the CS during the budget speech.
In this tax alert, we highlight the recent tax decision where the High Court addresses the concern regarding the application of withholding tax on the accrued interest. We also unpacked the rationale of the Court decision and the learning points from the case.
On 20 January 2022, the OECD released the revised Transfer Pricing Guidelines.Prior to this release, the 2017 guidelines that had included significant changes following the OECD’s work on Base Erosion and Profit Shifting (BEPS). While the 2022 revised edition also follows the OECD’s work on BEPS,...
This article focuses on the following Amendments on Income Tax Regulation in EthiopiaAllowable deductions under capital lease agreementDepreciation calculation on partially used buildingsLoss carry-forwardForeign currency lossInflation adjustment applications
In line with its Vision ‘’To increase domestic revenue through enhancement of voluntary tax compliance" and its Mission Statement ‘’We make it easy to pay tax and make lives better’’the Tanzania Revenue Authority (TRA) has embarked on a number of measures to promote voluntary tax compliance...
Ethiopia’s Gross Domestic Product (GDP) was estimated at USD 67.3 billion in 2019/2020. Despite the country being one of the low-income countries, with a per capita income of USD 1080 (2019/2020) (PDC, 2021). it is the fastest growing economy in the region. Ethiopia’s economy experienced a strong...
Following the assent of the Finance Act, 2021, the following sections came into operation from 1 January 2022. This issue also highlights the requirements of the Data Protection Act, 2019 and recent draft subsidiary legislations that are awaiting parliamentary approval.
BDO has released IFRS Bulletin 2022/01 summarising the activities in standard setting by IASB during the year 2021. The Bulletin provides a concise list of standards and amendments that became effective during the last year or will become effective in the coming years. It also provides a snapshot...