NL-Africa Tax Newsletter – May 2024

Dear business relation,

This month’s NL-Africa Tax Desk newsletter includes, amongst others, an update on the tax proposals (including Pillar 2) in Kenya’s 2024 Finance Bill, as well as a summary of grants and tax incentives in Southern Africa.

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 

• ATAF releases guide for implementing voluntary disclosure programme, offering crucial insights and guidance to African Tax Administrations
• BEPS 2.0 (Pillar Two) global updates 
• Taxation of the digitalized economy
• Transfer pricing documentation summaries by jurisdiction

Kenya

• Gains on petroleum products not subject to additional import duties (High Court decision)
• Tax proposals in Finance Bill, 2024 include implementation of Pillar Two global minimum tax

Netherlands

• Direct and indirect tax measures in general coalition agreement

Nigeria

• Challenge to tax authority’s declaration of deemed dividend rejected (tribunal decision)
• Guidance for financial institutions on collection and remittance of cybersecurity levy
• Guidance on executive order providing new tax incentives for petroleum sector
• Insurance companies subject to generally applicable excess dividend tax rule (Tax Appeal Tribunal decision)

Senegal

• Senegal signs Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA)

Southern Africa

• Summary of grants and tax incentives (Botswana, Mauritius, Mozambique, South Africa, Zambia, Zimbabwe)

South Africa

• South Africa issues guidance on exemption of international shipping income