Uruguay-Decree and Resolution published on new tax benefits for investments in electronic invoicing systems
The Ministry of Economy and Finance of Uruguay issued Decree No. 274/2015 which was published in the Official Gazette on 20th October 2015. On the other hand on 17th October 2015, the Resolution No. 4,126/2015 had been published in the Official
See MoreMexico: The tax reform package for 2016 published in the Official Gazette
Mexico published the tax reform package for 2016 including amended Federal Tax Code and Income Tax Law in the Official Gazette on 18 November 2015. The tax reform will be applicable from 1 January 2016.According to the tax reform package the main
See MoreColombia: Incentives for investments in non conventional energy sources
On November 4, 2015, the Colombian National Government has released Decree 2143 of 2015, by which the fiscal and customary incentives for investments in non conventional energy sources are regulated, according to the outline of Law 1715 of 2014. For
See MorePeru – Tax incentives for R&D sector
In Peru Decreto Supremo No. 188-2015-EF was published in the official gazette on 12 July 2015. The decree made certain tax incentives available for taxpayers that invest in research projects or that are involved in scientific, technological
See MoreKorea- Tax Amendments of 2015 with incentives for foreign investment
The Ministry of Strategy and Finance of Korea announced on 6 August 2015 its proposed tax law amendments for 2015. The proposed tax law amendments of 2015 limit the eligibility for tax reductions for foreign investments. The proposed law excludes
See MoreSouth Africa: SARS Releases Draft Guidance On Tax Breaks For Headquarters Companies
The South African Revenue Service (SARS) on February 12 2015 released draft guidance on tax incentives for headquarters companies, designed to encourage MNEs to local operations in South Africa as a gateway to African investment. The guide briefly
See MoreFinland: Tax Administration Publishes Guidance On Income From Investment Funds
The Tax Administration has released a new 2/9/2015 written instructions (number A23/200/2015) relating to the fund through the investment tax matters in income tax for private customers. The document covers the fund to take place in the form of
See MoreTaiwan: Proposes Tax Breaks In Return for Wage Hikes
A modification to the Statute for Developing Small- and Medium-Sized Enterprises (SMEs) in Taiwan, which will provide corporate income tax breaks to those businesses raising wages for their lower-level employees, has passed its first committee
See MoreVietnam: Guidelines on Corporate tax incentives; VAT on export-support services
Vietnam’s tax authorities issued guidance concerning the tax treatment and the determination of increased income from expansion projects during the period 2009-2013 for income that is not entitled to corporate income tax incentives. The guidance
See MoreCanada: New CRA tax compliance agenda for SMEs
The Canada Revenue Agency (CRA) has taken a new approach for developing tax compliance among small- and medium-sized enterprises (SMEs). This approach is proposed to help for preventing errors in business tax returns after they are filed. In
See MoreCanada: Announcement of mobile app for SMEs
The Canada Revenue Agency (CRA) has announced a mobile application for small- and medium-sized businesses (SMEs) that will let users to make reminders for key tax dates. After consulting with SMEs, the Government has developed the app to reduce red
See MoreVietnam: Issues new Circular on Corporate Income Tax
The Ministry of Finance published Circular No. 78/2014/T-BTC (Circular No. 78) on 18 June 2014, which provides additional execution guidance in respect of Decree No. 218/2013/ND-CP (Decree No. 218) which was issued on 26 December 2013. Decree 218,
See MoreKazakhstan: Tax holiday rules for corporate investors
The president has signed Law No. 209-V on June 12, 2014 for initiating a tax holiday for corporate investors in the industrial innovation’s field and it will be effective from January 1, 2015. According to the law, the tax authorities may grant a
See MorePeru: New Bill to Promote Investment
The Peruvian Executive proposed to the Congress on 18 July 2014 ‘Bill 3627-2013-PE’ which would introduce a number of tax changes to promote private investment. The bill would create new procedures for consolidation of land used in investment
See MoreFrance- Lawmakers Seek Simpler Tax Regularization Scheme
French members of parliament have indicated that offering taxpayers a chance for tax regularization through a lump sum 10 percent tax on assets repatriated would raise revenue for the government of around EUR 10 billion. Around half of this sum
See MoreUS – IRS to Restructure Services for Small Businesses
The IRS is considering a project to reorganize operations at its two largest business units, Wage and Investment (W&I) and Small-Business Self Employed (SB/SE). The aim would be to eliminate the duplication that may arise from the potential
See MoreBelgium – Tax benefits for investments in economic zones
Belgium has passed legislation providing for tax relief for employers making investments in particular economic zones. The relief is a partial exemption from salary withholding tax in respect of wages paid to new employees who are taken on within
See MoreItaly: Small businesses consider tax cut to be insufficient
In Italy the association representing small and medium-sized enterprises, has suggested that the government’s plan to reduce the regional tax on production activities (IRAP) by 10 percent will only bring a very small measure of assistance to
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