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 2024-2025 budgets in East Africa (Kenya, Tanzania, Uganda). Next to that, it includes a report on the global developments in ESG-related taxes, incentives, and grants.
The Supreme Court concluded that tax assessments must be reduced so that only the actual return is taxed in Box 3, and it also provides rules for determining the actual return.
Finding ways for tradition and innovation to co-exist is one of the most common challenges in building a lasting legacy in family businesses. By exploring the essence of legacy and its impact on business performance, the detailed data analysis, academic insights and the firsthand experiences of family business CEOs in this report contribute to a deeper understanding of the importance of balancing tradition and innovation for long-term success in family businesses.
On May 17, 2024 the Dutch Supreme Court rendered an important judgment on the tax qualification of a financial instrument that was issued by a company established in France in 2007. It concerned the ‘obligation remboursable en actions’ (hereinafter: ORA). The question was whether the instrument had to be regarded as equity (capital) or debt capital (loan) for the purposes of the Corporate Income Tax Act 1969. Although the dispute focused on the question whether the costs related to the issue of the instrument were allocable to a Dutch permanent establishment of the French company, the Supreme Court judgment potentially has a much broader scope.
On May 15, 2024 the four coalition parties PVV, VVD, NSC and BBB published their general agreement ‘Hope, Courage and Pride’. The general agreement and the budgetary appendix provide insight into the main features of the tax plans of the new coalition government. In this memo we discuss the tax measures.
The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month’s 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.