Tax

With digital payment services and streaming platforms experiencing rapid growth during the coronavirus pandemic, governments in emerging markets are looking at introducing digital taxes as a way of expanding state revenue.

Extensive fiscal measures have been in put in place across the GCC, with a view to offsetting the impact of the coronavirus on individuals, businesses and the broader economy. Measures have primarily been aimed at stimulating economic activity in the private sector and supporting entities that are struggling to manage their cashflows and tax compliance.

Suite à la tenue d’assises nationales de la fiscalité, une série de mesures ont été proposées, avec pour objectif une amélioration de l’environnement fiscal au Maroc.

Trinidad and Tobago is enacting sweeping changes to its tax system, with the government to establish a new revenue authority and implement a series of reforms as part of efforts to bolster state revenues and address recent fiscal imbalances.

Expected revisions to Jordan’s tax code seek to tackle avoidance and reduce the basket of goods covered by subsidies – measures aimed at cutting the budget deficit.

Last month Saudi Arabia’s General Authority of Zakat and Tax (GAZT) released the final implementing regulations to legislation governing the new GCC-wide value-added tax (VAT).