On 24 November 2023, the National Bank of Kazakhstan decided to reduce the annual base interest rate from 16.00% to 115.75% annually with the interest rate corridor of +/– 1 percentage point. The rate is effective from 27 November 2023 and is used for computing late payment interest. Before this, the rate was reduced from 16.50% to 16% as of 9 October 2023.
Moroccan lawyer, Soufiane El Bahja, has made history by becoming the first Moroccan lawyer to be admitted to the UK Bar. El Bahja, who is a qualified lawyer in Morocco, has been admitted to the Bar of England and Wales,…
The Belgian parliament is currently considering the draft bill for implementing the Pillar 2 global minimum tax, as per Council Directive (EU) 2022/2523 of 14 December 2022. The draft bill was submitted to the Parliament on 13 November 2023. The…
On 6 November 2023, the Federal Tax Authority (FTA) of the United Arab Emirates (UAE) released the Corporate Tax Guide on Taxation of Foreign Source Income – CTGFSI1. The guide includes: Definition and examples of foreign source income Identifying taxpayers…
On 15 November 2023, the Organization for Economic Cooperation and Development (OECD) announced that Kuwait joined the inclusive framework on Base Erosion and Profit Shifting (BEPS). Through its membership, Kuwait has also committed to addressing the tax challenges arising from the digitalisation…
Australia Restriction on interest deduction: On 28 November 2023, the Australian government released the amendments and a supplementary explanatory memorandum to the interest limitation rules within the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Bill 2023.See…