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A minimum of 8% interest on tax due is charged on any corporate income tax payable. Interest is not typically reimbursed on tax refunds. It is therefore important to monitor your tax position and the status of the tax assessments constantly and properly.

The implementation of Amount B became a reality based on the Final Report released by the Organisation for Economic Cooperation and Development (OECD) on February 19, 2024. The report provides guidelines intended to simplify and streamline the application of the arm's length principle with regard to baseline marketing and distribution activities.

The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month’s NL-Africa Tax Desk newsletter includes, amongst others, an update on the 2024 mid-year budget review in Ghana, the Finance Bill 2024 in Mauritius and the Kenyan Finance Act 2023.