The Tax Administrations Inform Colombia-Control and Sanctions on Net Worth Tax The Directorate of National Taxes and Customs, DIAN, reiterates that in relation to the net worth tax referred to in Article 292-1, in addition to the acts mentioned in Article 647 of the Tax Statute, accounting and/or fiscal adjustments that do not correspond to effective or real operations and which may imply a decrease in the net worth, constitute an inaccuracy that may be subject to sanction according therewith. Patricia Parada Castro Correspondent
Ecuador - Uruguay Cooperate to Avoid Tax Evasion Representatives of the Governments of Ecuador and Uruguay held the First Round of Negotiations of the Agreement to avoid double taxation. The Ministry of Foreign Relations of Ecuador reported that the Ecuadorian delegation consisted of representatives from the Internal Revenue Service, Ministry of Finance, Ministry of Production, Employment and Competitiveness Coordination, Central Bank of Ecuador, Senplades and the Mnistry of Foreign Relations. Mauro Andino Correspondent
Ecuador-April 27 is Tax Culture Day in Ecuador The “National Tax Culture Day”, established through Ministerial Agreement No. 387 of October 19, 2007 by the Ministry of Education was commemorated in Ecuador on April 27. The purpose for establishing this commemorative date was to make the student population and citizens in general, aware of the fact that the payment of taxes is one of the most important responsibilities of citizens and that it is a source of revenue for the State to carry out national development projects. Mauro Andino Correspondent
Kenya-KRA Impounds Elephant Tusks Kenya Revenue Authority in conjunction with other state agencies including recently impounded 115 elephant tusks weighing 1.5 tones at Jomo Kenyatta International Airport Nairobi. Kenya is among the countries which prohibit trade in elephant tusks and ivory products to discourage poaching and protect the endangered elephant population. John Karimi Nijiraini Correspondent
Kenya - EAC Reads $96m Budget The Chairperson of the Council of Ministers and Burundi Minister for East African Community Affairs, Ms Hafsa Mossi, is expected to present the budgetary estimates amounting to $95,967,160 for the financial year 2011/12 to the East African Legislative Assembly (EALA) this week.