Sweden: Tax Agency extends deadlines for DAC6 reporting amid COVID-19

30 June, 2020

On 24 June 2020, the Swedish Ministry of Finance published a statement announcing its intension to extend the reporting deadline of EU directive on reporting requirements for certain cross-border transactions (DAC6) due to the outbreak of the

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Belgium: Parliament adopts business loss carry-back relief

27 June, 2020

On 18 June 2020, the parliament of Belgium adopted a bill providing provision for loss carry back applicable for companies in response to Covid-19 pandemic. The loss carry back is provided by allowing for the creation of a tax-exempt reserve

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Bulgaria: Government Officially publishes a Bill regarding reduced VAT rate

25 June, 2020

On 19 June 2020, Government Officially published a Bill regarding amending the reduced 9% VAT rates for certain goods and services as a temporary measure in response to the COVID-19 pandemic. This Bill was passed in the Parliament on 12 June 2020.

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Qatar further extends tax returns filing deadline

25 June, 2020

On 21 June 2020, the Qatar General Tax Authority (GTA) further extended the tax returns filing deadline for FY 2019 to 30 August 2020 in response to the Covid-19 pandemic. The deadline was previously extended from 30 April 2020 to 30 June

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Romania introduces interest and penalties relief amid Covid-19 pandemic

25 June, 2020

On 16 June 2020, the Ministry of Finance (MoF) has declared that the government has extended interest and penalties relief to 25 October 2020 on tax obligations that have become due after 21 March 2020 and on late payments of tax under the tax

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Australia: Guidance on the Impact of the COVID-19 Crisis on Transfer Pricing Arrangements

23 June, 2020

On 19 June 2020 the Australian Taxation Office (ATO) posted to its website guidance entitled COVID-19 economic impacts on transfer pricing arrangements. This sets out guidance for taxpayers affected by COVID-19 who are preparing transfer pricing

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COVID-19: Malaysia announces short-term economic recovery plan

23 June, 2020

On 5 June 2020, the Prime Minister of Malaysia announced a Short-Term Economic Recovery Plan (ERP) in response to COVID-19. The relief plan contains the following tax measures. New tax holiday incentive for foreign manufacturers that relocate

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COVID-19: German cabinet approves economic relief plans

23 June, 2020

On 12 June 2020, the Germany Federal Cabinet has approved a EUR130bn (USD148bn) fiscal stimulus package with numerous tax measures, intended to help revive the German economy following the COVID-19 pandemic. The package increases loss carryback

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Vietnam approves 30% reduction in CIT rate for 2020 amid COVID-19

23 June, 2020

On 19 June 2020, the National Assembly of Vietnam has approved a 30% corporate income tax (CIT) reduction to all businesses if their total revenue does not exceed the VND 200 billion (approximately USD 8.8 million) threshold in 2020. After

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Taiwan: NTBSA calls for annual tax return for business suspended in tax year 2019

23 June, 2020

On 19 June 2020, National Taxation Bureau of the Southern Area (NTBSA), Ministry of Finance of Taiwan has stated that profit-seeking enterprises which suspended business in the taxable year 2019 should file its annual income tax return to the tax

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Austria: Government announces additional measures in response to COVID-19 outbreak

22 June, 2020

On 12 June 2020, the Government announced some additional measures in response to COVID-19 outbreak: VAT The Government is planning to finalize a reduced value-added tax (VAT) rate of 5% for the restaurant and culture sector due to the corona

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Czech Republic: The Chamber of Deputies passes anti-crisis tax package for second time

22 June, 2020

On 16 June 2020, the Chamber of Deputies passed the anti-crisis tax package for the second time aimed at mitigating the adverse economic effects of the pandemic on entrepreneurs and companies. The package is set to be signed by the president and

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Tanzania: Finance Minister presents Budget for 2020/21 to the Parliament

22 June, 2020

On 11 June 2020, the Finance Minister presents the Budget for 2020/21 to the National Assembly. The Minister indicated that the economic impact of the COVID-19 pandemic in Tanzania is not as severe as compared to other countries. This budget

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Puerto Rico: Governor signs additional economic relief package for COVID-19

19 June, 2020

On 14 June 2020, the Puerto Rican Office of the Governor has signed Law 57-2020 "Complementary Law to Address the Effects of the Puerto Rican Economy Caused by the COVID-19 Emergency". The new legislation includes the following main tax

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Peru: SUNAT modifies tax filing deadline again amid COVID-19 pandemic

12 June, 2020

On 29 May 2020, the Peruvian tax authorities (SUNAT) issued Resolution No. 099-2020/SUNAT in the Official Gazette modifying previous Resolution No. 055-2020/SUNAT and 065-2020/SUNAT in response to COVID-19 pandemic. The Resolution further extends

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Czech Republic: Finance Ministry announces liberation package III due to COVID-19 pandemic

12 June, 2020

On 9 June 2020, the Ministry of Finance announced on its website that the so-called next liberation package III has been approved to extend and extend certain tax exemptions, tax accessories and administrative fees due to an emergency caused by

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Luxembourg: MOF extends deadlines for DAC6 reporting amid COVID-19

10 June, 2020

On 4 June 2020, the Luxembourg Ministry of Finance (MOF) has published a statement extending the reporting deadline of EU directive on reporting requirements for certain cross-border transactions (DAC6) amid COVID-19 pandemic. On 3 June 2020, EU

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Colombia reduces advance of income tax for 2020 amid COVID-19 pandemic

09 June, 2020

On 29 May 2020, the Colombian Ministry of Finance and Public Credit has published Decree 766, through which it reduces the advance payment to be made by income taxpayers in the year 2020, as a consequence of the emergency generated by

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