Portugal extends the corporate income tax return deadline
Recently, the Portuguese government has provided a brief extension to the corporate income tax return deadline for the 2021 fiscal year. Typically the deadline is 31 May 2022, for taxpayers with a fiscal year that follows the calendar year. The new
See MoreTaiwan extends filing deadline for 2021 income tax return to 30 June 2022
On 4 May 2022, Taiwan’s Ministry of Finance (MOF) has extended the deadline for filing income tax return for the tax year 2021 from 31 May 2022 to 30 June 2022 due to the COVID-19 pandemic. The extension is applicable for both personal income tax
See MoreUK: Research on Benefits of Money Service Businesses
On 9 May 2022 the UK government published the results of research commissioned by HMRC to understand the economic and social benefits of the Money Service Business (MSB) sector in the UK. MSBs are businesses that allow customers to send money,
See MoreWorld Tax Brief: May 2022
ArgentinaPayment of tax: On 30 March 2022, the Federal Public Revenue Administration published a General Resolution which extends payment facilities for small and medium enterprises that is taxpayer’s preferential installment terms and interest
See MoreSingapore publishes guidance on filing CIT return for 2022
On 4 May 2022, the Inland Revenue Authority of Singapore published guidance on the 2022 corporate tax filing season. The guidelines include submission procedures, applicable thresholds, and guidelines for CIT forms. It also describes procedures for
See MoreUK: Statistics for Investments under the EIS, SEIS and SITR
On 5 May 2022 the UK government published statistics for the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR). These latest statistics show the amount of funds raised by
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IMF Report Assesses Ireland’s Economy
On 5 May 2022 the IMF released a report following consultations with Ireland under Article IV of the IMF’s articles of agreement. Ireland’s economic growth reached 13.5% in 2021 but there are downside risks from the increase in energy
See MoreCanada: Bill-19 receives its first reading to implement some measures of Budget 2022
On 28 April 2022, Bill C-19, introduced by the Deputy Prime Minister and Minister of Finance, was received its first reading for implementing some measures of Budget 2022. Some highlighting points are given below: Government banned foreign
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UAE: Consultation on introduction of new corporate income tax regime
On 28 April 2022, the UAE Ministry of Finance has released a consultation paper providing details of, and seeking input, on the new federal corporate income tax (CIT) system to be implemented in the UAE, effective for financial years commencing on
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Venezuela: Tax Administration increases the tax unit value
On 20 April 2022, the National Integrated Service of Customs and Tax Administration (SENIAT) of Venezuela published Administrative Ruling SNAT/2022/000023 in the Official Gazette, which increases the value of tax units from VES 0.02 to VES 0.40.
See MoreArgentina: AFIP extends CIT return submission deadlines
On 28 April 2022, the Federal Public Revenue Administration (AFIP) published General Resolution 5189/2022 of 28 April 2022, which extends the submission deadline of corporate tax return to between 23 and 26 May 2022, with the exact date depending
See MoreSpain publishes corporate income tax return form for FY 2021
On 28 April 2022, Spain published an Order HFP/379/2022 in the Official Gazette, approving the forms and instructions for the corporate tax and Non-Resident Income Tax returns for periods from January 1 to 31 December 2021. The regulation will come
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OECD: Tax Transparency in Latin America
On 3 May 2022 the OECD published the report Tax Transparency in Latin America 2022. The report was released during a meeting of the Punta del Este Declaration Initiative, which aims to tackle tax evasion and avoidance and other financial crimes by
See MoreRussia: CBR cuts the Key Interest Rate to 14%
On 29 April 2022, the Central Bank of Russia (CBR) adopted a decision to cut the key interest rate from 17% to 14%, with effect from 2 May 2022. Previously, the key interest rate was lowered from 20% to 17% on 8 April 2022 following the abrupt
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OECD: Assessing Tax Compliance and Illicit Financial Flows in South Africa
On 25 April 2022 the OECD’s Centre for Tax Policy and Administration issued jointly with South Africa’s National Treasury a publication entitled Assessing Tax Compliance and Illicit Financial Flows in South Africa. Achieving the
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OECD: Revenue Statistics in Latin America and the Caribbean
On 27 April 2022 the OECD released the publication Revenue Statistics in Latin America and the Caribbean 2022. This annual overview of the region contains internationally comparable data on tax levels and structures for 27 countries in the Latin
See MoreItaly issues latest tax return models with instructions
On 22 April 2022, the tax authority of Italy issued latest models, instructions, and technical specifications for tax returns, that effective for tax filing in 2022 in respect of the 2021 tax period. The updates are
See MoreBolivia: Tax Administration extends filing deadlines of CIT forms
On 22 April 2022, the Tax Administration published a guidance, RND No. 102200000008, which extends the deadline until 31 May 2022 for filing certain corporate tax reports and statements, for the tax period closing 31 December 2021. Under this
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