Ernst & Young, Tax Focus Issue 6 | 2012, News and updates across the African continent
Dear readers,
The year 2012 has begun with a lot of activity and change in Africa.
Many African countries had a tax year ending 31 December and therefore we have seen a lot of
changes in the tax legislation in Africa. We also continue seeing an increased focus on Africa, with
authors of various publications describing it as a continent abound with natural resources, untapped
markets and more relevant than ever - one of the last frontiers in a stagnating economy.
It is in this milieu that we give you a glance of the current tax landscape across the continent.
We have included recent changes emanating from budget events in Ghana, Zambia and Zimbabwe.
We take a closer look at Seychelles where social security has been replaced with Non-Monetary
Benefits Tax. VAT will also be introduced from July 2012. Another noteworthy change is that
Swaziland has introduced a reverse charge system which commenced on 1 December 2011.
We also gain a better understanding of transfer pricing, policy and mining tax practices on the
continent.
Ernst & Young opened a new office in Cameroon recently and it is therefore fitting to include an
interesting read on corporate taxation in that country.
We also feature Congo, as we know how many of you are expanding into this country and would find
benefit in examining the practical tax considerations.
Our Nigerian counterparts update us on the need to obtain tax clearance certificates early in the
year and also inform us about the new Financial Reporting Council set up recently.
Shifting our paradigm from the present to the future, we would like to notify our readers of the
upcoming Africa Mobility Conference (AMC) and Africa Tax Conference (ATC) taking place on 6-8
June and 16-19 September respectively in Cape Town.
We look forward to seeing you there. We also encourage you to follow us on twitter at EY_Africa.
Happy reading...
Regards
Natasha Meint
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