Russia declares tax relief measures for SME sector
On 12 November 2020, in response to Covid-19 pandemic the Government of Russia has declared the issuance of Decree No. 1791, which extends certain tax relief measures related to SME sector. The relief measures include the deferral of advance
See MoreMalta further extends electronic filing deadline of CIT returns amid COVID-19
On 16 November 2020, Malta’s Commissioner for Revenue has notified that the electronic filing deadline for year of assessment 2020 tax returns in respect of companies having a 31 December 2019 accounting year-end is being further extended to 16
See MoreAustralia: ATO declares lodgment deferral for Local File, Master File, and CbC Report for FY 2019
The Australian Taxation Office (ATO) has issued a notice declaring a lodgment deferral for the Local file, Master file, and Country-by-Country (CbC) report for the year ended 31st December 2019. Significant Global Entities (SGEs) that have
See MoreLithuania announces tax relief measures concerning second wave (COVID-19)
On 7 November 2020, the Lithuanian government ordered a “lockdown” in response to the “second wave” of coronavirus (COVID-19) cases. There are also tax relief measures in response to the coronavirus (COVID-19) pandemic in terms of tax
See MoreArgentina: AFIP provides further delay on inspections, assessments, appeals
In response to corona virus pandemic, on 9 November 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4856 of 9 November 2020, providing an additional suspension up to 29 November 2020 regarding inspections,
See MoreBelgium further extends Local file and CIT return filing deadline
On 12 November 2020, the Belgian Minister of Finance (MoF) announced a further extension of the filing corporate income tax (CIT) returns to 30 November 2020 for the Assessment Year 2020. Previously, the deadline for filing corporate income tax
See MoreIsrael introduces depreciation relief
On 9 November 2020, the Finance Committee of the parliament approved regulations regarding depreciation relief in response to the Covid-19 pandemic. The regulations include the straight-line depreciation rates for assets that purchased from 1
See MoreArgentina: AFIP provides suspension on inspections, assessments, appeals
In response to corona virus pandemic, on 26 October 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4840 of 26 October 2020, providing an additional suspension up to 8 November 2020 regarding inspections,
See MoreTaiwan: NTBSA issues press release on COVID-19 relief measure
On 3 November 2020, Minxiong Office, Taiwan’s National Taxation Bureau of the Southern Area (NTBSA), Ministry of Finance indicated that, in accordance with Article 9-1 of the Special Act for Prevention, Relief and Revitalization Measures for
See MoreSri Lanka declares penalty relief for late return filing
On 3 November 2020, in response to the Covid-19 pandemic Inland Revenue Department (IRD) of Sri Lanka has published a notice declaring penalty relief for late return submission for the assessment year 2019/2020. Under the provisions of the
See MoreExtension of tax compliance due dates amid COVID-19 pandemic
CountryCompliance IssueDue dateExtended Related NewsArgentinaTransfer pricing return24-Apr-2014-Oct-20See MoreBelgiumCIT Return24-Sep-2029-Oct-20See MoreCanadaCIT Return31-May-20to Aug-201-Sep-20See MoreDenmarkCIT & Transfer pricing
See MoreBulgaria: Cabinet approves draft Budget Bill 2021
On 28 October 2020, the Bulgarian Cabinet approved the 2021 Budget bill drafted by the Finance Ministry at a Cabinet meeting. The President made clear that this is not an electoral Budget. This is a Budget for after the elections, so that there are
See MoreIndia further extends the due date of furnishing of ITR and audit reports
On 24 October 2020, the Indian Finance Ministry published a notice regarding further extension of due date of furnishing of income tax returns and audit reports as a result of the challenges faced by taxpayers due to the COVID-19 outbreak. In
See MoreArgentina: AFIP extends the deadline for beneficial ownership declaration
On 22 October 2020, the Tax Administration (AFIP) published General Resolution 4839/2020 of 22 October 2020 providing further relief from the beneficial ownership declaration for 2019 and disclosures on financial and non-financial trusts introduced
See MoreItaly declares urgent measures on tax collection
On 18 October 2020, Italy's Council of Ministers issued a release declaring its approval of the draft bill that contains the Budget for the year 2021. On 20 October 2020, Italy has published Decree-Law No. 129 in the Official Gazette
See MoreTurkey: Government submits bill to parliament for the corporate tax cut
On 16 October 2020, The Turkish Government has submitted a bill to reduce the Corporate Income Tax (CIT) rate to lower the corporate tax by up to 5%. As from 1 January 2018, the corporate income tax rate for all companies is 22% (applicable for
See MoreIreland: Finance Minister publishes Finance Bill 2020
On 22 October 2020, the Finance Minister, Paschal Donohoe TD, published Finance Bill 2020 following Cabinet approval at the Government meeting. The Bill underpins the Government’s support for the economy in the face of Covid-19 pandemic and the
See MoreMalta: Finance Minister presents Budget for 2020
On 19 October 2020, the Minister for Finance, Edward Scicluna presented the Budget for 2021 to the Parliament. The budget has no tax increases. The key measures regarding tax and incentives are as follows: The tax refund check will be
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