China Tax payment: On 28 February 2022, the Ministry of Finance and State Administration of Taxation of China jointly issued Announcement No. 2 of 2022 extending the tax payment deferral policy for SMEs, especially in the manufacturing sector.
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Ghana E-filing: On 30 March 2022, the Ghana Revenue Authority (GRA) announced the mandatory filing of electronic tax returns for certain categories of taxpayers from 1 April 2022.
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Greece CFC-rule: On 23 February 2022, the Greek Public Revenue Agency (AADE) published a circular with detailed guidance on the application of controlled foreign companies.
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Malta Interest on late payment: On 4 March 2022, Malta issued Legal Notice 99 of 2022 in the Official Gazette. Accordingly, the additional tax shall be charged in an amount equal to 0.6% of the unpaid provisional tax for each calendar month or part thereof commencing on or after 1 June 2022; and the interest on unpaid tax shall be at the rate of 0.6% commencing on or after 1 June 2022.
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Poland Filing return: On 26 March 2022, the Polish Minister of Finance has signed an ordinance providing the extension of the deadline for the submission of corporate income tax returns for 2021. The deadline for the submission of corporate tax returns and the payment of tax is extended to 30 June 2022.
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Interest on late payments: On 11 March 2022, the Polish Ministry of Finance second time published the increased interest rates for the late payment of income tax arrears. Accordingly, the standard rate is increased from 8.5% to 10.0% per annum.
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Russia Incentives on others: On 26 March 2022, Russia published Federal Law No. 68-FZ on Amendments to Articles 284 and 284-8 of Part Two of the Russian Tax Code. Under the amendments, the corporation tax rate of 0% applies retrospectively to 1 January 2022 for cultural and leisure institutions.
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South Africa Interest on late payments: On 14 March 2022, the South African Revenue Service (‘SARS’) revised the interest rates tables for 2022. Interest rates charged under the legislation administered by SARS fall into three categories.
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Taiwan CFC-rule: On 16 March 2022, Taiwan’s Ministry of Finance (MOF) issued a press release confirming that the country’s CFC rules will be implemented with effect from the 2023 tax year for companies.
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Withholding tax on dividends: On 2 March 2022, Taiwan’s Ministry of Finance issued a press release clarifying withholding tax rules on dividends paid to non-residents companies.
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Turkey Special tax rates: On 25 March 2022, the Turkish government submitted a draft law to the parliament. The bill proposes a 25% corporate tax rate in the financial sector from 2022, including banks, financial leasing companies, asset management companies and insurance companies.
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Uruguay CFC-Negative list: On 21 February 2022, Uruguay published DGI Resolution No. 223/022, which updates the list of low or no tax jurisdictions and regimes, with effect from the same date.
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US Main corporate income tax rate: On 28 March 2022, the United States Department of the Treasury released details of tax proposals in the government’s fiscal 2023 budget recommendations in the Green Book. The proposal includes raising the corporate tax rate from 21% to 28%.
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Zambia Penalties for late return: Recently, the Zambia Revenue Authority (“ZRA”) released the due dates and associated penalties for the purposes of provisional income tax returns for the first quarter of the tax year 2022.
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