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 an update on the pending Petroleum Industry Bill 2020 in light of Nigeria’s present administration demonstrating strong commitment to passing this bill.
The new regulation is aimed at strengthening controls on a broader spectrum of evolving dual-use items (i.e. items which can be used for both civilian and military purposes) and the coordination between EU Member States to support the efficient enforcement of controls across the EU.
On June 3, 2021 the Court of Justice of the European Union (‘CJEU’) rendered judgment in the Titanium Ltd case (case no. C-931/19). The CJEU ruled that a foreign taxable person that does not have its own staff in situ in a Member State cannot have a fixed establishment for VAT purposes in that Member State either.
The fact that the right to use software can itself fall within the VAT exemption is a welcome clarification for Dutch practice in light of the increasingly automated asset management market.
In practice, substantial (albeit not easily quantifiable) amounts in dividend tax are avoided via various forms of dividend stripping, which the Dutch tax authorities cannot properly combat with the current legal instruments. The consultation document contains six potential solutions and various general questions
Many tax teams spend the bulk of their time dealing with tax data — finding it, correcting it, reconciling it and formatting it for tax reporting and other compliance needs. But processes like these are under rising pressure as tax authorities demand more tax data, in greater detail, and ever closer to real time.
Now, advancing technologies offer tax teams opportunities take a powerful new approach to their tax data. With compliance by design, organizations can ensure their systems and data management solutions deliver tax data that’s right the first time.
On Friday, May 28, 2021 the caretaker government announced that the changes to the corporate income tax loss set-off can take effect as of January 1, 2022. It was also announced that the Job related Investment Allowance (Baangerelateerde Investeringskorting; BIK) will be withdrawn.
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 the latest on transfer pricing in Africa. Transfer pricing in developing countries remains a key focus area of the UN Tax Committee and the African Tax Administration Forum has recently shed its light on the BEPS Pillar One proposals, too.