Mexico: Government declares new decrees regarding Special Economic Zones
Mexico has declared two new decrees that providing for the initiation of two new special economic zones (SEZ) in States of Campeche and Tabasco, in the official Gazette. They are designed for where they are most needed, and to boost productive
See MoreLuxembourg: Parliament adopts the new IP regime
On 17 April 2018, the Bill on a new IP regime adopted was by the parliament. This will enter into force with retroactive effect as from 1 January 2018. The IP regime introduces a new article 50 ter into the Income Tax Law (ITL) that provides for an
See MoreNew Zealand: Government releases R&D tax incentive discussion document
Government has announced its intention to introduce a research and development tax incentive in April 2019 to help more businesses undertake a greater amount of R&D on 19th April 2018. The Ministry of Business, Innovation and Employment, Inland
See MoreHong Kong: IRD publishes a bill on increasing tax deduction for R & D activities
On 20 April 2018, IRD gazetted the Inland Revenue (Amendment) (No. 3) Bill 2018 to provide for enhanced tax deduction for expenditure incurred by enterprises on qualifying research and development (R&D) activities, in order to encourage more
See MoreChina announces incentives for integrated circuit production companies
China's Ministry of Finance and Ministry of Industry and Information Technology have issued a notice introducing new tax incentives for qualified integrated circuit (IC) production enterprises. For new IC production enterprises or projects
See MoreTurkey: Law 7103 publishes with various tax measures
The new legislative package, or Law No. 7103 has been published on March 27, 2018 in the official gazette, which provides for several investment incentives in support of employment, research & development as well as manufacturing. It was
See MoreJapan: Parliament legislates tax reform plan for 2018
On 28 March 2018, The Diet (Japan’s parliament), enacted the tax reform plan for 2018. The tax law enforcement orders, which are regulations provided by the Government to supplement tax law, were also published in the Official Gazette on 31 March
See MoreLuxembourg: Government passes new IP tax regime
On 22 March 2018, the bill on the new IP regime was adopted by the Luxembourg Government. The Bill must now be signed into law and published in the Official Gazette to enter into force. Once in force, it is effective from 1 January 2018. The regime
See MorePoland: Government extends the special economic zone regime
On 20 February 2018, the Polish government adopted the plans to offer tax incentives to investors across the country, not just in areas designated as special economic zones (SEZs). Under the current regime, companies operating with the necessary
See MoreArgentina: Deadline extends for providing incentive benefit
Argentina has published Decree 229/2018 of 16 March 2018 in the Official Gazette. It effects from January 1, 2018. Under Decree 379/2001, this decree changes and extends the effective date for providing incentive up to December 31, 2018. This
See MoreBrazil changes R&D tax incentives
Brazil released the National Congress Act No. 8 of 14 March 2018 in the Official Journal. The Act extends by 60 Days of Provisional Measure No. 810 of 8 December 2017. This act changes the tax incentive for IT companies investing in research and
See MoreHong Kong: Finance Secretary of SARS presents the Budget for 2018/19
On 28 February 2018, the Financial Secretary of the Hong Kong Special Administrative Region, Mr. Paul Chan Mo-po presented the Budget proposal for the country’s tax year beginning 1 April 2018. Major proposals with respect to tax and business
See MoreSouth Africa: The tax incentive for R & D is expected soon
On 2 March 2018, the Department of Science and Technology (“DST”) attended a meeting with the newly appointed Minister of Science and Technology (Ms Mmamoloko Kubayi-Ngubane) to discuss the tax incentives for research and development. A task
See MoreSingapore: Finance Minister presents the Budget for 2018
On 19 February 2018, the Finance Minister presented the Budget for 2018 to the Parliament. Some of its most significant corporate tax measures are summarized below: For Year of Assessment (YA) 2018, the CIT rebate will be enhanced to 40% of tax
See MoreItaly: Detail Explanation of the New Regulation on Patent Box Regime
On the 6 February, 2018 the Italian Ministry of Economic Development and Ministry of Economy and Finance published its Official Gazette on the new patent box regime. The regulation explains the criteria for qualified tax payers, qualified IP,
See MoreDenmark increases research and development deduction from 2019
The Danish Government announced on 2 February 2018 that corporate income tax deductions for research and development (R & D) expenses will increase from 100 to 101.5% in 2019. It is expected that the deduction of R & D spending in 2026 will
See MoreBrazil publishes provisional measure on special tax regime
Brazil's provisional measure 795/2017 was turned into Law 13.586 / 2017, as published in the Official Journal of 29th December 2017. Provisional Measure 795/2017, initially released on 18th August 2017, provides for the tax treatment of exploration
See MoreItaly: Approves budget Law for 2018
The Italian Budget Law for 2018 (Law no. 205 of 27 December 2017) published on 29 December 2017 and entered into force on 1 January 2018. Some of its most significant corporate tax measures are summarized below: Dividends: Dividends from
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