Greece: Government publishes a draft legislation to extend the DAC6 reporting deadline
Due to coronavirus outbreak, the European Commission has recently agreed to delay the entry into force of certain European Union (EU) taxation measures. Among these is the delay of Council Directive 2018/822, commonly known as the Directive on
See MoreLuxembourg: Parliament approves Bill on deferral of DAC 6
On 22 July 2020, the Luxembourg Parliament approved Bill No. 7625 for filing and exchanging information on reportable cross-border arrangements under Directive 2018/822/EU (DAC 6) amid COVID-19 pandemic. The Bill includes the following information
See MoreCOVID 19: Poland further postpones withholding tax rules to 31 December 2020
On 24 June 2020, the Polish Ministry of Finance released a decree that further postponed the effective date of withholding tax rules for corporate income tax purposes. The new effective date is 31 December 2020. The withholding tax was originally
See MoreKorea: MOEF proposes Tax Revision Bill 2020 amid COVID-19
On 22 July 2020, South Korea’s Ministry of Economy and Finance (MOEF) has issued an overview of the proposed Tax Revision Bill 2020 to overcome the economic crisis and enhancing economic vitality due to COVID-19 pandemic. The three main focuses
See MorePanama further extends tax returns filing deadline
On 16 July 2020, Panama has published Decree No. 356 in the Official Gazette regarding further extensions of certain deadlines due to the Covid-19 pandemic. Annual tax return filing deadline for the 2019 tax year was previously extended to
See MoreUruguay extends additional advance payment deadline
The Directorate General of Taxation (DGI) of Uruguay has announced Resolution No. 1251/2020 of 16 July 2020 concerning additional advance payment deadline extensions in response to the Covid-19 pandemic. The taxpayers with taxable gross
See MoreNew Zealand increases individual tax write-off thresholds due to COVId-19
On 9 July 2020, New Zealand’s Inland Revenue (IR) has announced a temporary increase to the write-off threshold for individual taxpayers to help ease the financial stress caused by COVID-19. The threshold has been increased to NZD 200 from
See MoreSri Lanka: Further extension of tax return submission dates
On 3 July 2020, the Sri Lankan Inland Revenue Department has issued a notice on the further extension of following return/statement submission deadlines up to 31 December 2020 in line with the approval of "Tax Relief Measures to Facilitate Post
See MoreMalta extends individual tax return filing deadline amid COVID-19
On 15 July 2020, Malta’s Commissioner for Revenue has notified that the deadlines for individual tax return filing have been extended in response to the COVID-19 pandemic. Individuals who are required to file a Tax Return, which is usually
See MoreDominican Republic: The DGII extends corporate tax return deadline
On 15 July 2020, the Directorate General of Internal Revenue (DGII) released a Notice 80-20 to announced that the submission deadline of corporate tax return and payment of tax for the tax year closed 31 March 2020 is extended until 31 August 2020.
See MoreLuxembourg submits Bill to the Parliament on deferral of DAC 6
On 6 July 2020, The Luxembourg Ministry of Finance has submitted Bill No. 7625 to the Parliament extending the reporting deadline of EU directive on reporting requirements for certain cross-border transactions (DAC6) amid COVID-19 pandemic. The
See MoreCOVID-19: India further extends the deadlines of tax returns
On 24 June 2020, the Central Board of Direct Taxes of India has published a Notification No 35/2020 of 24 June 2020 providing the following extension of time limits under the Income Tax Act and related Acts due to COVID-19. The time for filing
See MoreLatvia defers the first mandatory disclosure rules (DAC 6) reporting deadlines
On 29 June 2020, Latvian Ministry of Finance has announced that the first reporting deadlines of cross-border arrangements (DAC6) provided by Council Directive (EU) 2020/876 will be deferred by six months in order to provide taxpayers and
See MoreEstonia extends deadlines for DAC6 reporting amid COVID-19
On 26 June 2020, the Estonian Ministry of Finance has proposed for the deferral of reporting on EU cross-border arrangements (DAC6) due to COVID-19 pandemic. All reporting and data exchange deadlines in 2020, the first reporting year, are thus
See MoreCOVID-19: German parliament passes additional stimulus package
On 29 June 2020, the German parliament has approved the second economic stimulus package in response to COVID-19. The package includes the following tax measures. A reduction in the standard rate of value-added tax from 19 to 16 percent for the
See MoreMalta extends deadlines for DAC6 reporting amid COVID-19
On 2 July 2020, the Maltese Commissioner for Revenue has announced the deferral of reporting on EU cross-border arrangements (DAC6) due to COVID-19 pandemic. All reporting and data exchange deadlines in 2020, the first reporting year, are thus
See MoreSlovenia extends deadlines for DAC6 reporting amid COVID-19
On 30 June 2020, the Slovenian Financial Administration published a statement regarding deferral of reporting on EU cross-border arrangements (DAC6) due to COVID-19 pandemic. All reporting and data exchange deadlines in 2020, the first
See MorePoland: Ministry of Finance further extends TP documentation deadline due to COVID 19
On 24 June 2020, the Polish Ministry of Finance announced the further extension of transfer pricing documentation deadlines due to the coronavirus pandemic. The announcement extends the local transfer pricing documentation preparation deadline as
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