Category Taxation In Africa

Kenyan Budget Cause Tax Debate

June 8, 2011 Taxation in Kenya

Finance Minister of Kenya Uhuru KenyattaIn the lead up to the government of Kenya revealing its next annual budget plan, debates are rising across the country regarding the issue of taxation.

The Finance Minister of Kenya Uhuru Kenyatta is scheduled to release the national budget plan this afternoon, June 8th. The Treasury of Kenya has indicate that the budget will outline an approximate KES 1.2 billion (USD 13.68 million) in government spending. It has also been revealed that in order to support the government’s expenditures, new foreign borrowing will be taken on. The proposed borrowing plan has sparked wide ranging debate in Kenya on what improvements can be made to the tax system to boost government revenues and decrease reliance on foreign aid.

On June 7th the governor of the Central Bank of Kenya Njuguna Ndung’u, sugges...

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Egypt to Keep Subsidies and Freeze Property Tax

May 27, 2011 Taxation in Egypt

Prime Minister of Egypt Essam SharafOver the course of this week Egypt has taken several steps towards setting a new path towards an economic recovery and rebuild, after a recent turbulent period of political instability and power shifts.

On May 25th Prime Minister of Egypt Essam Sharaf held a nationwide televised address, where he indicated that the government is currently working on several economic and tax policy changes aimed at improving the country’s economic stability and assure future development.

The Prime Minister assured taxpayers that throughout any policy changes that are to be carried out in the near future, the government would strive to maintain the majority of its current subsidy programs, especially towards food staples and other everyday necessities...

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EU Needs to Halt Direct Investment into Mining in Africa

May 25, 2011 Taxation in EUTaxation in Zambia

EU Needs to Halt Direct Investment into Mining in AfricaA ban on the government financing of mining activities has been called for in Europe, following allegations of gross tax evasion by resource sector operators in Africa.

Fifty members of the European Parliament have signed an open letter to the EU president and the European Commission, calling for a temporary suspension on all government financing of international mining projects. The moratorium is to be upheld until adequate standards can be put in place to protect the tax revenues and development opportunities for the countries in which the mining takes place.

According to the letter, each year sees millions of Euros flow from the European Investment Bank (EIB) into international mining and resource extraction projects, for the purposes of encouraging development initiatives on the Afri...

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Burundi to See Record High Tax Revenues

May 17, 2011 Taxation in Burundi

African manThe Burundi Revenue Authority (BRA) is improving the operational efficiency of tax collections in the
country, with a significant increase in tax revenues seen in the first quarter of 2011.

Over the first four months of 2011 the BRA collected a total BIF 123.3 billion in tax revenues, compared to BIF 95.10 billion throughout the same period in 2010. Commenting on the latest revenue report, Kieran Holmes, Commissioner General BRA, said that the latest figures were very positive sign for tax collections prospects for the rest of the year. He explained that historically the first quarter of the year has been the period with the lowest levels tax revenue collections, and the country now stands a chance to see record breaking revenues in 2011.

The increased tax revenue collections have been att...

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South Africa Sees Billions In Extra Tax Revenues

April 4, 2011 Taxation in South Africa

Rabodirect Rebels vs SharksPreliminary tax collection data is indicating that South Africa is making strides on its way to a sound financial recovery, through a combination of greater efficiency from South African Revenue Service and overall favorable economic conditions.

Speaking at a press conference held in Pretoria on April 2nd, Minister of Finance of South Africa Pravin Gordhan revealed that there has been significant growth in national tax revenue figures, and the government is projecting increasing GDP growth over the next two years. Due to a government policy combining raises to collection levels and decreases in public spending, the country’s budget deficit is now 5 percent of GDP, 0.3 percent lower than in the previous year.

According to figures released by South African Revenue Service SARS, during the ...

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