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Kazakhstan: National Bank reduces the annual base interest rate from November 2023
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…
UAE amends corporate tax law for global minimum tax implementation
On 24 November 2023, the United Arab Emirates released the Federal Decree Law No. 60 of 2023 in the Official Gazette with amendments to selected provisions of Federal Decree-Law No. 47 of 2022 (the Corporate Tax Law). The amendments are…
Germany: MOF issues draft guidance on anti-tax avoidance measures
On 30 November 2023, the German Ministry of Finance (MoF) issued draft guidance on anti-tax avoidance measures targeting non-cooperative jurisdictions. This follows the 2021 Tax Haven Defense Act, responding to EU guidelines against harmful tax practices. The defensive measures outlined…