National Bank of Ethiopia Calls for Comments on New Minimum Premium Rates for Motor Insurance

The National Bank of Ethiopia has issued a public notice to gather public opinion on the draft Motor Insurance Own Damage Minimum Premium Rate Directive (Draft Directive) which is expected to become effective within a few months. The Draft Directive sets the minimum rate for the amount of insurance premium that companies charge customers with the objective of aligning the insurance premium proposed for the insurance with the risk to be insured. The Directive also envisages culminating unwarranted premiums, undercutting, and protecting the interest of policyholders.

Country by Country Reporting Standards in Kenya: What’s in Store for Multinational Enterprises

The integration of national economies and markets has increased substantially in recent years, putting a strain on international tax rules that were designed more than a century ago. Weaknesses in the international tax rules created opportunities for base erosion and profit shifting thereby resulting in tax leakages for many governments. Informational asymmetry between taxpayers and tax authorities has long been considered a major contributor to opportunities for abuse of the tax system. In this regard, the global community has been making efforts to enhance tax transparency, remove bank secrecy and facilitate robust exchanges of information between tax administrations through bilateral and multilateral instruments.

Immunity of the Road Development Agency from Execution of Judgement

The Road Development Agency (the Agency) is a statutory body that was established under the Public Roads Act No.12 of 2002 (Public Roads Act). It is tasked with planning, managing, and coordinating the road network in Zambia, as well as providing care, maintenance, and construction of public roads.

Employers in the Private Sector to Adopt Newly Repealed Minimum Wage Order

The Government through the Minister of Labour, Youth, Employment and Persons with Disability recently published subsidiary legislation through GN 687 dated 25 November 2022, the Minimum Wage Order, 2022 (the Order) repealing the Minimum Wage Order of 2013. The Order is made under Section 39 (1) of the Labour Institutions Act and will come into force on 1 January 2023. It will apply to all employees and employers in all private sectors.

An Overview of the Mutual Agreement Procedures under Double Tax Agreements 

Tax dispute avoidance and resolution procedures are essential to the effective and efficient functioning of all tax administrations as well as ensuring certainty and predictability for businesses. Both these elements are critical for building an international tax system that supports economic growth and a resilient global economy.