Posts by Sabia Liza

Kenya: Finance Minister proposes Budget for the Financial Year 2019/20

June 19, 2019

On 13 June 2019, the Finance Minister, Henry Rotich of Kenya presented the budget for 2019/20 to the parliament. The...

Colombia: DIAN publishes procedures to submit the TP return, Master file, Local file and CbC report

June 19, 2019

On 22 May 2019, the Colombian tax authority (DIAN) published regulations for the submission of the Local file and Master...

Pakistan presents Budget for FY 2019-20

June 17, 2019

On 11 June 2019, the Finance Minister has presented the budget for the financial year (FY)2019/2020 to the parliament. The...

Peru: SUNAT publishes new tax guidance on indirect transfers for entities

June 13, 2019

On 4 June 2019, the Peruvian tax authority (SUNAT) published new guidance (Informe No. 046-2019-SUNAT/7T0000) for the determination of the...

World Tax Brief: June 2019

June 12, 2019

Puerto Rico Incentives-Industry/manufacturing: On 14 May 2019, Governor of Puerto Rico signed the Senate Bill 1147 (the Opportunity Zones Development...

Bulgaria: Parliament adopts amendments to TP documentation bill at first-reading

June 10, 2019

On 5 June 2019, the Bulgarian Parliament adopted at first reading amendments to the Tax and Insurance Procedure Code, which...

Bulgaria increases VAT registration threshold

June 9, 2019

Bulgaria is considering raising its VAT registration threshold. The current threshold will rise from BGN 50,000 to BGN 100,000 sales...

Greece extends deadline for CIT returns

June 8, 2019

Recently, the Ministry of Finance issued a decision (No A 1211/2019) extending the deadline for the filing of corporation tax...

Singapore: IRS Publishes TP guidelines for commodity marketing and trading activities

June 5, 2019

On 24 May 2019, the Inland Revenue Service of Singapore (IRS) has published a new transfer pricing (TP) E-Tax guide...

Greece amends tax incentives to extend the shared services centers

June 1, 2019

On 14 May 2019, Greece published document No. Ε.2076, sets forth the provisions of article 38 of Law 4605/2019 (Official...

Puerto Rico proposes tax incentives for qualifying Opportunity Zones

May 31, 2019

On 14 May 2019, Governor of Puerto Rico signed the Senate Bill 1147 (the Opportunity Zones Development Act), offering tax...

Indonesia: MoF publishes new guidance on MAP

May 25, 2019

On 26 April 2019, the Minister of Finance (MoF) issued a new provision on the Mutual Agreement Procedure (MAP) with...

Greece transposes the rules of the EU Anti-Tax Avoidance Directive

May 25, 2019

On 24 April 2019, Greece published Law 4607/2019 in the Official Journal containing measures to implement certain aspects of the...

Pakistan: FBR publishes ordinance on the tax amnesty program for a voluntary declaration

May 23, 2019

On 16 May 2019, the Pakistani Federal Board of Revenue (FBR) posted online an ordinance on the tax amnesty program...

Bulgaria: Council of Ministers approves the proposals of new mandatory documentation rule for transfer pricing

May 22, 2019

On 15 May 2019, the Council of Ministers approved the proposals of the Ministry of Finance to amend the Rules...

India: CBDT signs 18 new APAs

May 21, 2019

On 3 April 2019, the Central Board of Direct Taxes (CBDT) has announced the signing of 18 advance pricing agreements...

Peru: SUNAT issues a new transfer pricing guideline on related-party share transfers

May 20, 2019

On 16 May 2019, Peruvian tax administration published a guidance “Informe No. 057-2019-SUNAT/7T0000” outlining the tax treatment of transfers of...

Peru publishes conditions and procedures to implement GAAR

May 20, 2019

On 6 May 2019, the Peruvian Minister of Economic issued a Supreme Decree 145-2019-EF, which contains the provisions for the...