NL-Africa Tax Newsletter – January 2024

Dear business relation,

This month’s NL-Africa Tax Desk newsletter includes, amongst others, several recent South African tax updates and an update on the 2024 Budget of The Gambia.

If you would like to know more about the matters addressed in this newsletter or have any feedback, you are welcome to contact Sebastiaan Paling (Head of the NL-Africa Tax Desk). Please visit our website for more information on the NL-Africa Tax Newsletter and the services we offer or to download our factsheet.

Best regards,
NL-Africa Tax Desk team
Meijburg & Co

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Africa 

• BEPS 2.0 (Pillar Two) global updates
• ESG Tax Tracker
• Taxation of the digitalized economy
• Transfer pricing documentation summaries by jurisdiction

Botswana

• Increase in tax-exempt thresholds for pensions, gratuities and retrenchment packages

Côte d' Ivoire

• Multilateral convention (MLI) enters into force in respect of Côte d’Ivoire

Gambia

• The Gambian Ministry of Finance and Economic Affairs has presented the 2024 Budget Speech, announcing new tax measures aimed at environmental protection, combating tobacco consumption and enhancing tax compliance. 

Netherlands

• Dutch Ministry of Finance publishes list of designated developing countries for Unilateral Decree on the Avoidance of Double Taxation for tax year 2023 (in Dutch)

Nigeria

• Guidelines to simplify the compliance regime for goods sold through digital means postponed indefinitely

Rwanda

• Rwanda issues public ruling clarifying application of new corporate income tax rate

Senegal

• Commitment to start automatic exchange of information (AEOI) by 2025

South Africa

• Estimated assessments for VAT
• Interest incurred by investment holding company held nondeductible (High Court decision)
• KPMG annual South African Tax Budget 2024 seminar 
• Vendors must respond to VAT verification requests with 40 business days

​​​​Zambia

• Zambia joins Global Forum on Transparency and Exchange of Information for Tax Purposes as 39th African member