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The Ethiopia Budget runs from July 8th of the current year to July 7th of the following year (Hamle1 - Sene 30). The Gregorian calendar equivalent to the fiscal period 2014 (E.C) is the period from July 8th, 2021 to July 7th , 2022.The Government of Ethiopia (GOE) prepares it budget using...
This insight highlights the new updates that Tanzania Revenue Authority (TRA) recently introduced to the e-filing system as well as the 2021/2022 Finance Act, amendment of section 84 of the Income Tax Act, 2004.
This year has been a year unlike any other, with the global COVID-19 pandemic bringing enormous personal, professional and societal disruption. It has proven to be a major catalyst for change, driving us to think and work differently, and brought with it a raft of unforeseen challenges...
The Finance Act, 2021 (“the Act”) was enacted on 29th June 2021. The Act amends various provisions of tax and fiscal laws including Income Tax Act, Value Added Tax Act, Excise Duty Act, Tax Procedures Act and Miscellaneous Fees and Levies Act. Furthermore, the Act stipulates changes to other...
May 12, 2021 Minister Tusabe Richard (Minister of State in charge of National Treasury) told parliamentarians that the budget for fiscal year 2021/22 will reflect medium term fiscal path which allows for an increased spending to reach medium term goals as embodied in the National Strategy for...
The Tanzania Finance Bill, 2021 (“the Bill”) Bill proposes for amendments to the country’s tax laws which includes The Tax Administartion Act, Direst Taxes, Indirect Taxes, and Administartive Changes.The Bill also highlights some expected changes in the Telecommunication, Oil & Gas, Transfer...
The President of Uganda signed into law various tax and administrative amendments passed by the Parliament. This brief is a summary of the tax and administrative changes that will take effect on 1st July 2021.
The Finance Bill, 2021 (“the Bill”) was presented before Parliament by the Government and subsequently published on 5th May 2021. The Bill proposes for amendments to the country’s tax laws which includes Income Tax Act, Value Added Tax Act, Excise Duty Act, Tax Procedures Act and Miscellaneous...
The Finance Act, 2020 introduced Minimum Tax at the rate of 1% of Gross Turnover. Effectively, the tax is to apply as an alternative to installment taxes for companies with losses or very low profits. Section 12D of the Income Tax Act and the Commissioner’s Guidelines on Minimum Tax (revised in...