12 November 2020: the fifth edition of Revenue Statistics in Africa was released via webinar where high-level representatives from the African Tax Administration Forum (ATAF), the African Union Commission (AUC), the OECD Centre for Tax Policy and Administration, the OECD Development Centre, the European Commission, and the Ugandan Revenue Authority discussed public revenue trends in African countries and the future of domestic revenue mobilisation in Africa in the aftermath of the COVID-19 pandemic, including the impact of the African Continental Free Trade Area (AfCFTA).
UAE can be used favorably as the location for the ultimate holding company for a group that is relocating to a new jurisdiction or on formation of a new publicly traded entity with worldwide activities
income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
12 November 2020: the fifth edition of Revenue Statistics in Africa was released via webinar where high-level representatives from the African Tax Administration Forum (ATAF), the African Union Commission (AUC), the OECD Centre for Tax Policy and Administration, the OECD Development Centre, the European Commission, and the Ugandan Revenue Authority discussed public revenue trends in African countries and the future of domestic revenue mobilisation in Africa in the aftermath of the COVID-19 pandemic, including the impact of the African Continental Free Trade Area (AfCFTA).
UAE can be used favorably as the location for the ultimate holding company for a group that is relocating to a new jurisdiction or on formation of a new publicly traded entity with worldwide activities
income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
Presented on World IP Day (26 April 2019) we cover UK tax incentives that support the development of intellectual property (IP) including:
R&D Tax Credits
Patent Box
SEIS / EIS
Presented by Steve Livingston | IP Tax Solutions - innovation tax specialists
https://www.iptaxsolutions.co.uk
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Presented on World IP Day (26 April 2019) we cover UK tax incentives that support the development of intellectual property (IP) including:
R&D Tax Credits
Patent Box
SEIS / EIS
Presented by Steve Livingston | IP Tax Solutions - innovation tax specialists
https://www.iptaxsolutions.co.uk
Environmental Due Diligence and Managing Environmental Risk in Saskatchewan b...Monica Pollard
Saskatoon lawyer, Christopher J. Masich, presented at the recent Law Society of Saskatchewan Continuing Professional Development events in Saskatoon and Regina on Due Diligence & Legal Opinions. Chris provided a comprehensive discussion on the specific area of Environment.
Blockchain in capital markets and structured financeEY
The blockchain concept has generated a considerable amount of attention within capital markets, with discussions expanding into practical applications in securitization. Explore considerations around the application of blockchain in capital markets and the proposed applications of blockchain in structured finance.
Die DAX-Konzerne mussten 2016 24 mal ihre Prognosen korrigieren - Rekord. Welche Folgen das für die Unternehmen hat und warum es so schwer geworden ist, genaue Prognosen zu liefern, lesen Sie in einer neuen EY-Studie. Erfahren Sie auch, wie sich die Korrekturen an Gewinn- und Umsatzprognosen der 302 im Prime Standard notierten Unternehmen entwickelt haben.
Watch full webinar here: http://www.firmex.com/Due-Diligence-Best-Practices-and-Pitfalls-sign-up/
LOIs and NDAs signed. Now art meets science with the legal, financial and strategic review of the business. How do you test the value proposition and identify potential risks? Select the best tools to streamline the process? And prepare for regulatory and legal compliance issues arising from legislation like FCPA? Learn what it takes to avoid pitfalls that plague even the most experienced due diligence experts.
Due Diligence - What You Don’t Find Out Will Hurt YouNow Dentons
This presentation focuses on the details of the due dilligence process. It covers the definition and role of due dilligence, provides a legal due diligence checklist and gives an overview of key due dilligence points and mining considerations.
Our latest #EY CFO study, Partnering for performance Part 5: the CFO and the chief executive officer (CEO), examines how the CFO’s relationship with their CEO has changed, and joint commitments required to strengthen their alliance. The study is based on a survey of 652 CFOs and interviews with CFOs and CEOs, and covers how leading CFOs and CEOs are partnering together on digital, M&A decisions, performance measurement and operating model redesign. To learn more visit: http://goo.gl/7dnWi6
Alliance One Detectives And Private InvestigatorsAlliance One
Alliance One Detectives is the best agency for corporate investigation in Mumbai. We provide the necessary data to give you the edge in your business dealings and investments.
Our investigations can assist in cases of:
Acquisitions and Mergers
A due diligence report can be produced to investigate the validity of a business aquisition or merger price.
Arbitration Proceedings
Alliance One Detectives can provide information to help settle arbitration proceedings quickly.
Competitive Intelligence
Our due diligence reports can provide you with competitive intelligence allowing you to make more accurate strategic decisions
Civil and Criminal Litigation
Alliance One Detectives can provide detailed information to assist in Civil and Criminal cases.
Corporate and Financial Transactions
Alliance One Detectives’ financial due diligence checks can ensure peace of mind to potential buyers by analysing and validating all the financial, commercial, operational and strategic assumptions being made.
Potential Employee Checks
Alliance One Detectives’s potential employee checks give you all the information you need before bringing someone new into your team.
Financial Information including CCJ’s, Bankruptcy and Credit Checks
Alliance One Detectives can provide comprehensive information on a person’s credit history and assets.
Fraud Prevention and Detection
Alliance One Detectives’ Fraud Prevention checks include confidential investigation of suspicious activities by employees, management, suppliers and clients.
Investments (Business and Personal)
Alliance One Detectives aim to enhance our clients’ investment success by providing intelligence on key risks and benefits associated with each investment.
Pre-sue Reports
If all other possible payment arrangements have been exhausted, bringing a debtor to court may be the only remaining option – in such cases as these, a pre-sue report can provide details to clients as to whether or not a debtor is able to pay.
Tracing Debtors
Alliance One Detectives offer an efficient debtor tracing service, tracking down individuals and companies which have moved premises and changed trading names.
Material Contracts and Agreements
A due diligence report examine the quality of the assets and potential buyer/seller to ensure a safe transaction
Asset Tracing
Alliance One Detectives’ asset tracing reports can uncover someone’s hidden assets, however hard they may try to hide them. These may be in the form of corporate investments, shares, trust funds, undisclosed accounts or loans, possibly abroad.
Best Fraud Investigation Detectives in Mumbai
Alliance One Detectives‘ Insurance fraud investigation team are highly trained at detecting and preventing insurance fraud. We have been involved in many high profile and complex investigations in the past from exaggerating claims to deliberately causing accidents or damage.
The Six Highest Performing B2B Blog Post FormatsBarry Feldman
If your B2B blogging goals include earning social media shares and backlinks to boost your search rankings, this infographic lists the size best approaches.
EMLI Training-Legal Due Diligence for Acquisition Deal in Indonesian Mining P...EMLI Indonesia
Materi Legal Due Diligence untuk perusahan tambang di Indonesia yang disampaikan oleh Bapak Dendi Adisuryo dalam acara Kursus Intensif Hukum Pertambangan. Acara tersebut di selenggarakan oleh EMLI Trainig, yang hingga saat ini telah memiliki 1000 Alumini dari berbagai jenis latar belakang.
EY activities and solutions for insurers focusing on the emerging consumersEY
Outlining the opportunity for global carriers is a new report from EY and LeapFrog Investments, a profit-with-purpose private equity fund and the world’s largest dedicated investor in insurance and related financial services to low-income consumers in Africa and Asia. The report highlights the various components of operational excellence that will be required for success in tapping the emerging consumer market.
This presentation provides:
- an overview of the insurance sector in emerging markets
- the various drivers insurers need to focus on in order to effectively serve low-income customer segments
- key challenges and focus areas
- EY's customised solutions
For further information and to download a copy of the EY and Leapfrog report, "Operational excellence for insurers focusing on emerging consumers", visit: http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/EY-Operational-excellence-for-insurers
Unclaimed property historic litigation and legislation May 8, 2017Debera Salam, CPP
Here's the presentation handout and replay link to the Ernst & Young LLP webcast on May 8 about the current legislative and litigation environment affecting unclaimed property.
Legal Issues and Regulatory Requirements for Business AcquisitionsLawPlus Ltd.
Types of Business Acquisitions
Legal Issues for Acquisitions of Shares
Legal Issues for Acquisitions of Newly Issued Shares
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Legal Factors to Consider on Acquiring Businesses in Other AEC Countries
HLM2 2016 Side Event: New Partnerships in TaxOECDtax
The Addis Ababa Action Agenda calls for ambitious action on domestic resource mobilisation, the main source of financing for the Sustainable Development Goals (SDGs). In response to this ambition, new and diverse partnerships are being formed, and are at the forefront of building developing countries’ tax systems. This event brings together key players from African tax administrations, sharing their experiences on how partnerships have evolved and the impact development co-operation can have on raising revenues. This evolution has seen experts being used in different ways, regional organisations and co-operation becoming more important, and the possibilities for South-South co-operation expanding. This event will therefore focus on three key examples of these new forms of Partnership; partnerships with experts in the Tax Inspectors Without Borders Initiative, ATAF partnerships with the OECD and Tax Inspectors Without Borders, and a new South-South co-operation initiative between the revenue authorities of Kenya and Botswana.
AACC to be held on the 16th and 17th of May 2016 at the Indaba Hotel Fourways Johannesburg.
You can look forward to a “mountain” of information about extending credit in Africa underpinned by financial inclusion.
The topics:
Overview of the Africa Continent by Dr Prega Ramsammy (CEO of FinMark Trust)
Transborder Data Flow by Dr Ina Meiring (Director of Werksmans Advisory Services)
Challenges we face in Africa by Gabriel Davel (previous Credit Regulator SA - now consulting to the countries in Africa)
Regulatory issues in Credit by Lesiba Mashapa (Company secretary at the National Credit Regulators Office SA)
The In’s and Out’s of Debt Counselling by Paul Slot (President of the Debt Counsellors Association)
Lack of innovation in credit granting and Enforcement procedures by Ronél Lewies (Director of Lewies Attorneys)
The need for knowledge to do business in Africa by Pieter Steyn (Chairman of LexAfrica)
A Regulatory view by Ingrid Goodspeed (Chief Director, Financial Sector at National Treasury South Africa)
Data Fraud and Identity Theft by Gray Stopforth (Business Development Director at GBG DecTech Australia)
Enablers - Data by Owen Sorrour (Senior vice president TransUnion Analytical and Decision Solutions)
Enablers - Systems by Peter Rafferty (CEO of FutureSoft)
Enablers - Staff by Stan Horwitz (Managing Director HRN Consulting, HR Network)
Enablers - The Building Blocks to financial services and credit by Frank Lenisa (CMO at Compuscan)
Enablers - Financial Models and Systems by Dave van Niekerk (CEO of GetBucks, a Fintech Company)
The April 2018 Africa Market Update covers the economies of Nigeria, Zambia, Kenya, Tanzania, Uganda and Rwanda. This issue focuses on, among others, the challenges facing Nigeria's monetary policy environment as peer economies unwind the tightening cycle that dominated the past three years.
Diamonds: Uncut. The Base Erosion and Profit Shifting ChallengesOECDtax
This high-level learning event was organised by the Tax Inspectors Without Borders (TIWB) Secretariat in partnership with the African Tax Administration Forum (ATAF). It brought together senior level figures from governments, regional tax organisations and civil society to discuss the BEPS challenges inherent to diamond valuation.
South Africa, officially the Republic of South Africa, is the southernmost sovereign state in Africa.
It is bounded on the south by 2,798 kilometers of coastline of Southern Africa stretching along the South Atlantic and Indian Oceans, on the north by the neighbouring countries of Namibia, Botswana and Zimbabwe, and on the east by Mozambique and Swaziland, and surrounding the kingdom of Lesotho.
South Africa is a multiethnic society encompassing a wide variety of cultures, languages, and religions.
Its pluralistic makeup is reflected in the constitution's recognition of 11 official languages, which is among the highest number of any country in the world.
South Africa has the seventh-highest per capita income in Africa. However, poverty and inequality remain widespread, with about a quarter of the population unemployed and living on less than US$1.25 a day.
Board Governance, Stakeholder Focus and Integrated Reporting James Deiotte
Lecture at Cleveland State on emerging markets board governance with a focus on stakeholder differences and different reporting requirements for such stakeholders and regulators.
Investment in Poland and support programsJames Deiotte
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
1. EY Africa
Sub Saharan Africa tax overview
Wharton School of Business
The University of Pennsylvania
September 2015
2. Page 2
1
Welcome
Jim Deiotte, EY Africa Tax Lead and member of AMCHAM (American
Chamber of Commerce)
8:00 – 8:30
2
Africa attractiveness Survey 2015 - Making choices
Sylvester Taku, EY Africa Assurance
Q&A and open floor discussion
8:30 – 9:30
3a
Financial Services: Extending reach into Africa
Presented by Graham Thompson, EY Africa Knowledge Leader
10:00 – 10:50
3b
Sub-Saharan Africa tax overview
Presented by Jim Deiotte
10:00 – 10:50
3c
Africa Private Equity
Presented by Graham Stokoe, EY Africa Private Equity Leader
10:00 – 10:50
4
Guest speaker
Jeff Nemeth
President Ford Motor Company of SA, AMCHAM Board
11:00 – 11:30
5
Welcome
Jim Deiotte,
11:30 – 12:00
Agenda
6. Page 6
1 EY in Africa 4 – 6
2 The Africa landscape 7 – 12
3 The Africa Tax landscape 13 – 19
4 Sub Saharan Africa tax filing landscape 20 – 23
5 Transfer Pricing in Africa 24 – 29
6 Africa Tax Coordination Services 30 – 32
7
Overview of considerations when
establishing a legal presence in Africa
33 – 34
8 Upcoming EY Africa events 35 - 40
Contents
9. Page 9
EY Africa tax practice
Size of tax practice by cluster
Africa Tax Leader 28 countries East cluster 6 countries
Jim Deiotte
70 Partners &
Executive Directors
890 Professional staff
Catherine Mbogo
9 Partners &
Executive
Directors
116 Professional staff
Francophone cluster 9
countries
Central cluster 3 countries
Joseph Pagop
Noupoue
8 Partners &
Executive Directors
181 Professional staff
Nigel Forsgate
7 Partners & Executive
Directors
62 Professional staff
West cluster 2 countries Southern cluster 8 countries
Abass A Adeniji
5 Partners & Executive
Directors
94 Professional staff
Mark Goulding
41 Partners &
Executive Directors
437 Professional staff
11. Page 11
Africa Tax Administration Forum member countries
Great potential for exchange of information
ATAF member countries
EY office
No EY office, but support
available
With the active
role that ATAF is
taking in driving
the focus on
transfer pricing
and BEPS, we
expect the
transfer pricing
controversy
landscape to
change
significantly in
the near future.
► ATAF is an
international
organisation which
provides a
platform for
cooperation
among African tax
authorities.
Through mutual
cooperation
between member
states, ATAF
works towards
increasing the
level of voluntary
tax compliance
whilst combating
tax evasion and
avoidance
13. Page 13
Currency devaluation in Africa against the
US Dollar over 12 months
-35.00%
-30.00%
-25.00%
-20.00%
-15.00%
-10.00%
-5.00%
0.00%
5.00%
10.00%
1 July 2014 - 30 June 2015
Botswana Pula
Egyptian Pound
Ghanaian Cedi
Kenya Shilling
Nigerian Naira
South Africa Rand
Uganda Shilling
Zambian Kwacha
14. Page 14
Reporting language considerations in Africa
► With an estimated 1,500 to
2,000 African languages
spoken, Africa is a continent
with exceptional linguistic
diversity.
► In both Angola & Mozambique
returns are completed in
Portuguese.
► UEMOA countries complete
returns in French.
French speaking
Portuguese
Spanish
Amharic
Arabic
15. Page 15
Statutory reporting considerations in Africa
OHADA member states
Benin Burkina Faso Cameroon
Central African
Republic
Chad Comoros
Congo Cote d’Ivoire
Democratic Republic
of Congo
Equatorial
Guinea
Gabon Guinea
Guinea-Bissau Mali Niger Senegal Togo
Statutory reporting
No information available
Local GAAP
OHADA
IFRS
24. Page 24
Due dates for various tax returns for African
countries
5
9
4
6
2 2
0
1
2
3
4
5
6
7
8
9
10
CIT return submission due date
6
5
7
10
4
16
7
4
13
6
5
14
0
2
4
6
8
10
12
14
16
18
Provisional Tax due per month
25. Page 25
Due dates for various tax returns in Africa
1
3
1
14
5
1
3
1
2
0
2
4
6
8
10
12
14
16
7th 10th 14th 15th 20th 21st 30th 31st N/A
Number of Monthly WHT
returns to be filed
► N/A = South Africa is based on transactions date
1
10
1
4
2
1
3 3
1
2
0
2
4
6
8
10
12
Number of Monthly VAT
returns to be filed
26. Page 26
Due dates for various tax returns in Africa
2 2 2
15
5
1
3
1
0
2
4
6
8
10
12
14
16
7th 10th 14th 15th 20th 21st 30th N/A
Number of Monthly PAYE
returns to be filed
► N/A = South Africa is based on transactions date
7
3 3
1 1
2
1
9
0
1
2
3
4
5
6
7
8
9
10
Number of Annual PAYE
returns to be filed
28. Page 28
Setting the scene
Transfer pricing in Africa over the last 20 years
Countries with transfer pricing legislation / rules
There has been more than a 100% increase in transfer pricing legislation in Africa over the past
5 years.
* TP legislation came into effect 1 January 2015
** Draft TP legislation
1995 - 2000 2001 - 2005 2006 - 2010 2011 – 2015
South Africa Namibia Algeria Algeria Malawi
Zambia South Africa Egypt Angola Mozambique**
Zambia Kenya Burkina Faso Nigeria
Malawi Egypt Namibia
Namibia Cameroon Senegal
South Africa Congo South Africa
Zambia DRC* Tanzania
Ghana Uganda
Gabon Zambia
Kenya Zimbabwe
Sierra Leone
29. Page 29
Africa transfer pricing landscape
Southern Africa
East Africa
West Africa
Central Africa
North Africa
Countries with TP legislation / rules
The nature of TP
legislation varies across
the continent
Tanzania
DRC
Angola
Namibia
South
Africa
Zambia
Zimbabwe
Malawi
Mozambique
Nigeria
Egypt
Algeria
Ghana
Senegal
KenyaCameroon
Gabon
Burkina
Faso
Congo
Uganda
Sierra
Leone
30. Page 30
Transfer pricing audit landscape
High audit activity and numerous queries
Medium audit activity
Low or no audit activity to date
We expect there to be considerable audit
activity in the near future
Mauritius
NigerMali
Morocco
Algeria
Sudan
Chad
Ethiopia
South Africa
Ghana
Nigeria
Tanzania
Zambia
Central African
Republic
Botswana
Angola
Democratic
Republic
of Congo
Kenya
Lesotho
Malawi
Mozambique
Swaziland
Uganda
Zimbabwe
Mayotte
Comoros
Tunisia
Cameroon
Gabon
Equatorial
Guinea
Cote d’Ivoire
Togo
Benin
Senegal
Gambia
Guinea
Burkina Faso
South
Sudan
31. Page 31
Be audit ready
Understanding key TP risks
Ensure alignment with the commercial reality of the operationsFunctional analysis
Legal agreements
Implementation of policy
TP method applied
Non-disclosure in tax return
Non-disclosure of transactions
Comparables
Support for negative results
Ensure alignment with the commercial reality and TP documentation
Ensure proper justification for TP method used
Ensure TP policy has been correctly implemented
Ensure all material transactions are properly disclosed in TP policy
Availability of appropriate internal or external comparables
Provide detailed support where poor results were achieved
Tax Administration Act penalties may apply if non disclosure
32. Page 32
Risks associated with not having an appropriate
transfer pricing policy properly implemented
Higher
possibility of a
tax dispute
Significant
reputational
damage caused
by perceptions of
inappropriate
pricing
Risks
Double
taxation, penalties
and late payment
interest
Internal
challenges due to
inconsistencies in
pricing
Scrutiny
by local tax
authorities
with respect
to other
taxes
Unnecessary
difficulties with
repatriation of
funds
66% of
companies
identified “risk
management” as
their highest
priority for
transfer pricing
in the EY 2013
Global Transfer
Pricing Survey.
This is a 32%
increase from
2010.
34. Page 34
Africa Tax Coordination Services (ATCS)
Our Africa Tax Coordination Services (ATCS) team was established 8 years ago, the purpose being to project manage tax engagements
for clients and provide them with visibility and oversight of their tax affairs across the continent. Our team consist of 18 full time tax
resources whose primary function daily is to track and monitor that we meet the deadlines of our clients; respond timeously to requests
and provide regular feedback and updates to our clients.
The ATCS team has vast experience in coordinating tax advisory and tax compliance services for multinationals with operations across
Africa and the Globe. Many of our clients provide feedback that the EY team’s approach of combining a central point of contact with
access to in-country professionals has positively impacted their service experience.
The role of the coordination team is to ensure:
► You have a central-point-of-contact
► Your goals, objectives and needs are clearly articulated to our teams
► A consistent approach and service delivery
► Connecting the right people at the right time
► Visibility and access to your compliance status and progress on specific projects
Natasha Meintjes
Africa Tax Coordination Services Leader
Tel: +27 11 772 3923
Mobile +27 83 611 1859
E-mail: Natasha.Meintjes@za.ey.com
36. Page 36
Overview of considerations when establishing
a legal presence in Africa
37. Page 37
Overview of considerations when establishing a legal
presence in Africa
► Minimum Nominal amounts of less than US$1 (e.g. Botswana) up to
US$50,000 (e.g. Ghana)
► Local shareholding requirements may exceed 50% (e.g. Angola 50% shares
+1)
► Also consider minimum investment requirements e.g. US$1mil in Angola
► Minimum 1 to 2 directors
► Consideration for Local director requirements in many countries
► 3 days (Mauritius) to 6 months (DRC) calculated from date of submission
of all required documentation
► Subsidiary – limited (private) and public entities
► Branch is an option in most countries (limited activity allowed – auxiliary
services mostly)
► REP office – not always recognised legal form e.g. Botswana; Tanzania;
Kenya; Mauritius; Namibia
Timeframe to register an entity
Legal Entity Form
Director requirements
Shareholding requirements
► Appointment of local director if no local employees’ in management
positions
► Opening of a bank account
► Translation of documentation
► Not having all the required documents available
► More than one registration required – business & regulatory
► Business premise address
Lessons learned on what delays
registrations (examples)
39. Page 39
EY Strategic Growth Forum™ Africa 2015
Accelerating progress. A better story, told better
40. Page 40
Profile of attendees includes:
► EY Entrepreneur of the Year Awards 2015 Finalists, Judges, EOY Alumni, Entrepreneurial Winning Women Alumni and a
renewed focus on attracting Africa entrepreneurs as delegates.
► Board, CEO and C-Suite, CFO, Strategic Directors of our G360; Focussed core accounts, in addition to clients and
companies from across Africa and Global. Public and private sector and leading government officials.
Why SGF?
► Offers dynamic speakers, topical sessions, panel discussions, networking opportunities and inspirational entrepreneurs
and executives – all exploring and sharing strategies for growth.
► Plays a significant role in the Entrepreneurship/Middle Market, MSL and Sector agenda in terms of the proven direct
impact it has on reputation, relationships, and revenue with clients.
► Help to break down barriers and explore a wealth of growth opportunities in growth markets. Clearly demonstrate EY’s
convening power, insight, expertise and point of view on operating internationally. Provides the opportunity to spend 2-3
days exclusively with your target/client. The results can be immediate and long lasting!
A stimulating environment | Networking | Reinforcing relationships
Competitive advantage | Insightful | Connected | Revenue
EY Strategic Growth Forum™ Africa 2015
Accelerating progress. A better story, told better
41. Page 41
EY Africa Tax Conference 2014
Building a better working world in Africa
42. Page 42
EY Africa Tax Conference™ 2015
Towards tax harmony in Africa
43. Page 43
Africa Thought Leadership
Africa 2030
Africa 2030: Realizing the possibilities builds on EY’s flagship
Africa attractiveness series, reinforcing the tremendous
progress that has been made in Africa over the past 15 years.
EY Survey: growing war for talent in Africa
A growing war for talent is emerging in Africa, as firms are
recruiting to support their growth ambitions on the continent.
Africa by numbers
Whether entering into or expanding across Africa, we believe
it is critical to develop a structured analytical framework for
prioritising markets into which to expand and for assessing
different strategic options
Africa by Numbers: a focus on Nigeria
Nigeria continues its robust and sustained economic growth.
Harvesting growth: the rise of private equity exits in
Africa
Africa’s economic development over the last few years has
been impressive, with many countries across the continent
starting to see the benefits of government and economic
reforms and increased FDI flows.
Unlocking value in Africa
In the current global economic context, it would be difficult to
find an alternative investment destination that offers 10 to15
years of sustained economic growth.
EY Africa Business Centre Thought Leadership
Africa Attractiveness surveys
Making choices
We remain confident that, despite economic headwinds, the
“Africa rising” narrative remains intact and sustainable.
Executing Growth
Our 2014 Africa attractiveness survey reveals a dramatic
improvement in the continent’s perceived attractiveness, now
at second place, and although FDI numbers paint a mixed
picture, companies are successfully growing in Africa
Getting down to business
Africa’s rise over the past decade has been very real. While
sceptics still abound, and there are people who still seek to
debate the point, the evidence of the continent’s clear
progress over the past decade is irrefutable
Building Bridges
Our second edition of Africa Attractiveness builds on the
theme of the African growth story, while emphasising the
need to bridge a perception gap that continues to exist among
many potential investors not yet doing business on the
continent.
2011: It’s time for Africa
Understanding Africa’s strengths and challenges and bring
strategic within the framework of these can help African
countries position themselves more competitively and also
help focus investment for optimal returns.
44. Page 44
Disclaimer
This document is intended to be used for discussion purposes only and the comments set out in
this document do not constitute advice by EY.
The information in this pack is intended to provide a general outline of the subjects covered. It
should not be regarded as comprehensive or sufficient for making decisions, nor should it be
used in place of professional advice.
By you having access to the information in this pack, you do not, acquire rights against EY, any
other member firm of the global EY network, or any of their respective affiliates, partners, agents,
representatives or employees (collectively, the “EY Parties”) and EY assumes no duty or liability
to you in connection with this pack’s information.
By you having access to this pack’s information, you release each of the EY Parties from any
and all claims or causes of action that you hereafter may or shall take in using this packs
information. You further shall indemnify, defend and hold harmless the EY Parties from and
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