Belgium declares e-Filing services for CIT returns
On 28 April 2023, the Belgian Federal Public Service Finance made an official announcement regarding the launch of the Biztax e-service. This digital platform is aimed at facilitating the submission of corporate income tax (CIT) returns for the
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Panama extends ‘Large Taxpayer’ definition
The Directorate General of Revenue (DGI) of Panama released Resolution No. 201-3346 on 13 April 2023. On 19 April 2023, this resolution has been published in Official Gazette No. 29764, and effective since that date. The resolution revises the
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Russia: Government proposes to extend limitation for carry-forward of losses
On 24 April 2023, the Russian Government has submitted a draft bill to parliament proposing an extension of the current limit on the offset of carried forward losses. Currently, from 1 January 2017 to 31 December 2024, companies are only allowed to
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El Salvador: Parliament approves law for the promotion of technological manufacturing and innovation
On 19 April 2023, the Legislative Assembly approved a law for the Promotion of Technological Innovation and Manufacturing with 69 votes in favor. The new legal law offers tax benefits to individuals or organizations, both domestic and foreign,
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Turkey extends several deadlines for tax return and payment
On 25 April 2023, the Turkish Revenue Administration announced the extension of several deadlines for tax returns and payment. Accordingly, the corporate tax return and payment deadline for the accounting period 2022 has been extended to May 5 2023
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Luxembourg: Government submits draft bill on transfer pricing and general tax procedures
On 28 March 2023, the Luxembourg government submitted Bill No. 8186 to the Parliament. The bill includes changes in advance pricing arrangement (APA), mutual agreement procedure (MAP), compliance with transfer pricing documentation requirements, and
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Vietnam: MoF announces tax payment extensions for 2023
On 14 April 2023, Vietnam's Ministry of Finance (MoF) has issued Decree No. 12/2023/ND-CP, which provides for tax payment deadline extensions for qualifying taxpayers in various sectors, including agriculture, manufacturing, and SMEs. The extensions
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Denmark proposes a temporary solidarity contribution to the fossil sector
On 22 March 2023, the government of Denmark has published a proposed bill introducing a solidarity contribution that purposes to tax on excess profits of companies in the crude oil, natural gas, coal and refinery sectors in line with the Council
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Brazil publishes law extending certain CFC benefits
On 13 April 2023, Law No. 14.547 transposing Provisional Measure 1148/2022 into law was published in the Brazilian Official Gazette, which extends certain benefits in regard to the controlled foreign company (CFC) rules under Law 12,973/14. Under
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Russia: Government proposes to change the single tax payment deadline
On 4 April 2023, the Russian government has proposed a draft law to move the deadline for the mandatory single tax payment from the 28th day of the month to the 25th day. The objective of this proposal is to prevent cash gaps in regional and
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Hong Kong: IRD issues circular letter extending due date for N code returns
On 14 April 2023, the Inland Revenue Department (IRD) of Hong Kong issued a Circular Letter providing an extension of due date for N code returns. Recognising the genuine difficulties being experienced by businesses and practitioners in their
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Algeria: DGI extends the deadline for 2022 annual tax returns
On 12 April 2023, the Algerian Directorate General of Taxes (DGI) issued a communiqué prolonging the deadline for filing tax returns for 2022. Accordingly, the deadline for the 2022 tax return is extended to 31 May 2023 (normally due by 30 April of
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Saudi Arabia launces four new special economic zones across the country
On 14 April 2023, the Government of Saudi Arabia announced the launches of four new special economic zones (SEZs) across the country that offer the chance for foreign investors to have a stake in the world’s fastest-growing economy. The newly
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Nigeria: FIRS issues an outcome statement on implementing pillar-2 global minimum tax
On 13 April 2023, the Nigerian Federal Inland Revenue Service (FIRS) has issued an outcome statement regarding a two-day workshop held (4th and 5th April) with the OECD to sensitize stakeholders on the Two-pillar Solution and how to maximize its
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Canada: Tax measures in federal budget 2023
On 28 March 2023, Ms. Chrystia Freeland, the Deputy Prime Minister and Minister of Finance released Budget 2023. Canada’s economic growth was the strongest in the G7 over the last year, and today, 830,000 more Canadians are employed than before
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Singapore: IRAS publishes updated e-tax guide on the Carry-Back relief system
On 31 Mar 2023, the Inland Revenue Authority of Singapore has released the eighth edition of the e-Tax Guide on the Carry-Back Relief System. This updated guide provides important information for individuals and businesses that have unabsorbed
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China launches online international tax services for non-resident entities
On 10 April 2023, China's State Taxation Administration made an announcement regarding the nationwide launch of an online cross-border tax service for non-resident enterprises. This service allows overseas companies to conveniently pay their taxes
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World Tax Brief: April 2023
Australia Tax Compliance: The Australian Taxation Office (ATO) has released the Reportable Tax Position (RTP) schedule for 2023. To determine whether a company needs to file an RTP schedule, they must conduct a self-assessment. Companies that
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