Bolivia extends deadline for corporate tax filings and statements
On 19 April 2024, Bolivia’s tax authority announced a new directive—RND No. 102400000011, in which it clarified the extension of the deadline for the submission of various reports and statements related to corporate income tax (Impuesto sobre
See More
Canada 2024 federal budget includes higher capital gains rate and other tax measures
On 16 April 2024, Canada’s Finance Minister delivered the 2024 federal budget. The following are some of the key tax measures of the budget: Capital gains inclusion rate The 2024 Budget proposes increasing the capital gains inclusion rate
See More
UAE: FTA issues guidance on business restructuring reliefÂ
On 17 April 2024, the UAE Federal Tax Authority (FTA) released the Corporate Tax Guide on Business Restructuring Relief - CTGBRR1. The relief permits certain restructuring transactions to occur in a tax-neutral manner without activating corporate
See More
Italy simplifies income tax and withholding compliance with new return deadlines
On 11 April 2024, Italy’s Revenue Agency announced it released Circular 8/E to clarify the simplification of tax return compliance under Legislative Decree No. 1 of January 2024 or the "Compliance Decree." The Circular provides simplification
See More
Finland announces public finance plan for 2025 – 2028Â
On 16 April 2024, the Finnish government declared its public finance plan for 2025 to 2028. The finance plan includes specific tax reforms focused on enhancing the sustainability of public finances. These measures include: Raising the VAT
See More
Australia: ATO updates trust tax returns and private rulings forms
On 12 April 2024, the Australian Taxation Office (ATO) issued a guide detailing the upcoming modifications to the annual tax return form for trust income reporting, effective from 1 July 2024. ATO also announced updating its application forms for
See More
Portugal: Government approves comprehensive tax reform program
On 10 April 2024, the Portuguese Government approved a government program incorporating several measures related to corporate and individual income taxes. The program covers the following topics: Corporate Tax Rate Reduction: A planned
See More
Japan: Parliament approves comprehensive tax reform package 2024
On 28 March 2024, Japan's National parliament (Diet) approved the 2024 tax reform legislation. The legislation includes several significant measures aimed at economic stimulation and fiscal adjustment. The reform package encompasses multiple tax
See MoreAustralia: ATO offers tax returns concessions until 15 May 2024
On 17 April 2024, the Australian Taxation Office (ATO) declared a concession for tax returns which will conclude on 15 May 2024. This concession allows individual, partnership and trust tax returns to be lodged by 5 June 2024 without penalties,
See More
Greece extends tax payment options with incentives for the tax year 2023
On 5 April 2024, Greece enacted legislation to establish income tax payment terms for the tax year 2023. Greek authorities are offering taxpayers with extended payment options for 2023. This applies to both individuals and entities operating as
See More
Malta enacts 2024 budget act with full intellectual property expense deduction
On 2 April 2024, Malta released the Budget Measures Implementation Act 2024 which includes a main income tax provision for deducting expenditures of a capital nature on intellectual property or intellectual property rights. This Act applies from the
See More
New Zealand issues 2024 international tax disclosure exemption
On 3 April 2024, the New Zealand Inland Revenue published a determination concerning the 2024 international tax disclosure exemption. This eases the obligation of taxpayers to report their interests in foreign entities for the income year that
See More
Australia: ATO announces availability of 2024 reportable tax position schedule
On 14 April 2024, the Australian Taxation Office (ATO) released the reportable tax position schedule 2024, which provides detailed guidance for filing returns. According to the guidance, companies are obligated to file a completed reportable tax
See More
Ecuador passes pro-tourism law to boost employment and investment
On 1 April 2024, Ecuador's National Assembly declared the approval of the law aimed at enhancing tourism activities and promoting employment. The provisions of the law encompass the following initiatives: Investment Incentives: Local taxes will
See More
US: Idaho reduces tax rates for companies and individual taxpayers
On 29 March 2024, the governor of Idaho, the 43rd state of the US, approved House Bill 521. This law includes reducing the corporate and individual income tax rates from 5.8% to 5.695%. This tax rate reduction goes into effect retroactively from 1
See More
Germany: Government provides a response to inquiries regarding the procedures for dividend WHT exemption and refunds
On 8 April 2024, the German government issued a response to an inquiry from the leading opposition parties in the lower house of parliament regarding the status of dividend withholding tax (WHT) exemption certificates and refund procedures for
See MoreBolivia issues reminder for corporate tax payments and returns deadline for 2023
On 5 April 2024, Bolivia's National Tax Service (SIN) in a notice notified taxpayers of the upcoming deadline for corporate income tax payments and other necessary returns for the fiscal year ending on 31 December 2023. According to the notice the
See More
Malaysia releases tax guidelines for foreign capital asset disposals
On 27 March 2024, the Inland Revenue Board of Malaysia (IRBM) released guidelines about the Tax Treatment on Gains from the Disposal of Foreign Capital Assets Received from Outside Malaysia. The key points of the guidelines are as
See More