Bulgaria: 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 MoreCroatia: Prime Minister extends Wage Subsidy Scheme amid COVID-19 pandemic
On 20 October 2020, the Prime Minister and Minister of Labor, Pension System, Family and Social Policy presented the continuation of tax relief measures to preserve jobs due to the crisis caused by the coronavirus pandemic. The main objective of
See MoreLuxembourg: Finance Minister presents draft budget law for 2021
On 14 October 2020, Luxembourg’s Finance Minister has presented the draft budget law 2020 to the Parliament. There are no measures regarding major tax reform or an increase in the tax rate in the draft budget law. The draft budget laws contain a
See MoreUruguay declares tax exemption for software development services
The tax authority of Uruguay has issued Resolution No. 1716 to exempt corporate tax for income from software development services. Particularly, the tax authority permitted taxpayers to include, in their expenses and direct costs incurred in
See MoreAustralia: Parliament approves Federal Budget for 2020-21
On 9 October 2020, Mr. Scott John Morrison, the Prime Minister of Australia has issued a release announcing the approval of the Budget 2020-21 measures. On 6 October 2020, the Budget measures were included as part of the Treasury Laws Amendment
See MoreNigeria: President presents National Budget for 2021
On 8 October 2020, the President, Muhammadu Buhari, presented the National Budget for the year 2021 to a joint session of the National Assembly consisting of the Senate and the House of Representatives. The 2021 Budget is titled 'Economic Recovery
See MoreIndonesia: DGT publishes regulation extending tax incentives
On 1 October 2020, the Directorate General of Taxation (DGT) of Indonesia published the Regulation No. 143/PMK.03/2020 extending tax incentives to December 31 for medical equipment and services necessary to fight the corona-virus pandemic. The
See MorePoland: Parliament considers bills introducing Estonian tax regime for SMEs
On 30 September 2020, the Polish lower house of Parliament approved the Bill No.643 that provides for the introduction of an optional “Estonian” corporate income tax (CIT) regime for small and medium enterprises (SMEs). The new tax regime is
See MoreFrance: Government publishes draft Finance Bill for 2021
On 28 September 2020, the Council of Ministers adopted the French Budget Bill for 2021 or Finance Bill 2021. The draft Bill also includes the recovery plan to restore the economy following the coronavirus pandemic. French Parliamentary discussions
See MorePoland: Parliament approves a bill to amend various income tax rules
On 30 September 2020, the Polish lower house of Parliament (Sejm) approved a Bill No.642 amending various income tax rules for business. The measures of Bill No. 642 will apply from 1 January 2021. The bill includes a number of proposed tax
See MoreArgentina: Government announces tax incentives for tourism industry
On 21 September 2020, Argentina Officially published Law No. 27563 providing a package of relief measures to tourism sector and related industries in response to the COVID-19 pandemic. The measures include: Services of travel and tourism
See MoreSweden: Government submits the Budget Bill for 2021 to the Riksdag
On 21 September 2020, the Government has submitted the Budget Bill for 2021 to the Riksdag (the national legislature and the supreme decision-making body of Sweden). The Budget proposes the following key tax measures: Temporary tax
See MorePanama: Special tax regime for multinational companies
On 31 August 2020, Mr. Laurentino Cortizo, the president of Panama signed Law No. 159, introducing a new tax regime designed to encourage multinationals to establish and operate manufacturing services in Panama. The new law (EMMA) looking
See MoreFrance: Finance Ministry announces tax payment plans for SMEs
Due to COVID-19 pandemic, on 17 August 2020, the Ministry of Economy and Finance announced some tax payment idea to assist very small enterprises (VSEs) and small and medium-sized enterprises (SMEs), who have faced economic consequences by the
See MoreArgentina: AFIP extends tax filing and payment due date
Due to COVID-19 pandemic, on 27 August 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4802/2020 of 27 August 2020, which introduced a tax filing and a payment facility and to extend these until 30 September
See MoreChile: Government publishes Law regarding new COVID-19 tax incentives package
On 2 September 2020, Government Officially published Law 21.256 regarding new COVID-19 tax incentive packages for those who are badly affected by coronavirus pandemic. Previously, on 18 August 2020, the Senate approved this Bill. The measures
See MoreIndonesia announces further tax relief measures due to COVID-19
On 22 August 2020, the Indonesian Directorate General of Taxation has published Regulation No.110/PMK.03/2020 regarding tax incentives for certain taxpayers in industrial sectors affected by the coronavirus pandemic. The regulations increased the
See MoreMalta issues Regulations on temporary support measures amid COVID-19
On 25 August 2020, Malta has issued Legal Notice No. 345, which clarifies Regulations on research and development (R&D) tax credits for corporate income and individual income tax in response to the COVID-19 pandemic. The Legal Notice includes
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