Brazil: Government extends the installment terms of tax deadlines for small business
On 18 May 2020, the Ministry of Economy published a Resolution No. 155 of 15 May 2020 to extend the deadlines for tax installments due in May, June, and July 2020 within the scope of the simplified (Simples Nacional) regime up to the last business
See MoreNetherlands introduces emergency package 2.0 in response to COVID-19 pandemic
On 20 May 2020, the government of the Netherlands further announced relief measures (emergency package 2.0) in response to COVID-19 pandemic. The key issues of extended and new measures in “emergency package 2.0” is following: The
See MoreDominican Republic: DGII grants new facilities to taxpayers due to COVID-19 impact
On 12 April 2020, the General Directorate of Internal Taxes (DGII) approved new tax relief measures in response to coronavirus outbreak. This includes: the submission due date of Form IR-17 or other withholding and complementary remuneration,
See MoreIndia: Central Board of Direct Taxes (CBDT) publishes finance act 2020
On 27 March 2020, the Central Board of Direct Taxes (CBDT) published the Finance Act 2020 that includes measures announced as part of the Union Budget 2020-2021 and others. The measures of the Finance Act generally apply from 1 April 2020 (or
See MoreArgentina: Tax authorities extend measures during COVID-19 pandemic
On 30 March 2020, the Government has officially published General Resolution 4690/2020 of 30 March 2020, which amends General Resolution 4667/2020 on the tax regularization scheme for small and medium enterprises (SMEs). It extends the deadline to
See MoreCOVID-19: Hungary announces tax relief measures in response to coronavirus
On 23 March 2020, the Government of Hungary has announced the implementation of new tax relief measures to curb the negative effects of COVID-19 crisis on the Hungarian economy. Small business sectors grant tax exemption from the obligation to
See MoreChina: Tax measures in response to COVID-19 pandemic
Since the outbreak of COVID-19, the State Taxation Administration of China (STA) has implemented the decisions to adopt a series of measures in response to the epidemic and boost economic and social development. Following key measures are initiated
See MoreCOVID-19: Indonesia provides relaxation of import taxes for companies in the manufacturing sector
On 13 March 2020, the Indonesian Ministry of Finance has made fiscal policy volume 2 to mitigate the negative impact of the coronavirus on the economy. Under this, a six-month income tax exemption is introduced starting in April for manufacturing
See MoreIreland: Revenue announces tax measures and guidance due to COVID-19 pandemic
On 13 March 2020, the Revenue announced tax measures and guidance for small and medium enterprises (SMEs), other than SMEs, employees, and the self-employed who may be affected by the coronavirus crisis. The guidance includes: Small and medium
See MoreAustralia: Tax measures amid COVID-19 pandemic
On 12 March 2020, the Australian government announced a package of measures to assist the economy withstand and recover from the economic impact of COVID-19. The following measures will be administered by the Australian Taxation Office
See MoreBulgaria: Government proposes tax and economic measures during COVID-19 pandemic
On 13 March 2020, Bulgaria declared a state of emergency as a result of the spread of COVID-19 and on 15 March 2020, the government proposed the following tax and economic measures: Deadline for submission of the annual corporate income tax
See MoreArgentina: Government publishes General Resolution on tax schemes for SMEs
On 31 January 2020, Government published General Resolution 4667/2020 of 30 January 2020, which provides special tax schemes for small and medium enterprises (SMEs) introduced by Law 27541 on Social Solidarity and Productive Reactivation. This
See MoreCosta Rica: Ministry of finance publishes draft resolution on tax benefit for SMEs
The Costa Rican Ministry of Finance recently published a draft resolution on tax benefits for SMEs that was introduced by Law No. 9635 of 3 December 2018. The benefits apply to qualified SMEs whose gross income does not exceed CRC 106 million
See MoreAustria: Government publishes Program for 2020-2024 regarding tax measures
The Government released its Program for 2020-2024 regarding several tax reform measures. Corporate tax The Program proposed to increase the threshold of corporate income tax from EUR 30,000 to EUR 100,000 and reduce the corporate income tax
See MoreEcuador: President made objections on second tax reform bill
On 14 December 2019, the President, Moreno, made objections on the second tax reform bill approved by the National Assembly. Accordingly, he proposed to limit the application of the thin-capitalization rules to inter-company loans. Accordingly,
See MoreJapan: Government announces tax reform plans for 2020
On 12 December 2019, the Japanese government announced tax reform plans for 2020 providing new tax incentives to promote investment. The tax reform includes incentives to invest in 5G wireless technology, including a 15% tax deduction for
See MoreEcuador: Tax Policy Committee issues Resolution on tax incentives for micro and Small business
On 26 November 2019, the Tax Policy Committee published Resolution CPT-RES-2019-005 regarding the application of tax incentives in case of micro and small enterprises, which entered into force on the similar day of its publication in the Official
See MoreEcuador presents new tax reform Bill
On 21 November 2019, the Ecuadorian National Assembly presented a new draft of the Tax Reform Bill on "Tax Simplicity and Progressiveness" following the rejection of the previous draft law on economic growth reform submitted to Congress on 18
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