Ireland: Revenue updates CIT return guide for 2021
On 13 September 2022, the Irish Revenue published an eBrief No. 173/22 related to the corporate income tax (CIT) return guide (Form CT1 2021). The Revenue states that 2021 Form CT1 was released on 16 August 2022. CT1 files started in ROS offline
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Hong Kong: IRD further extends the lodgement of 2021/22 profits tax return
On 8 September 2022, the Hong Kong Inland Revenue Department (IRD) issued a circular letter to tax representatives extending the lodgement of 2021/22 tax returns to 30 September 2022. Recognising the genuine difficulties being experienced by
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Oman introduces tax exemptions for sectors of economic diversification
On 8 September 2022, the Oman Tax Authority (OTA) announced some conditions and procedures for obtaining income tax exemption for companies operating in sectors contributing to economic diversification. The exemption is offered only to companies
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Malta amends the interest rate on unpaid tax
On 14 September 2022, Malta issued Legal Notice 228 of 2022 on Income Tax (Rate of Interest) (Amendment) Rules, 2022. Accordingly, the date by which the tax is payable in terms of the relevant provisions of the Income Tax Acts is 31 August 2022 or a
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Vietnam
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution more effective) in Vietnam was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes that
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Australia updates requirements for payments to foreign residents
On 8 September 2022, the Australian Taxation Office (ATO) published a notice in respect of obligations when making interest, dividend, or royalty payments to foreign residents. Taxpayers who have paid interest, dividends or royalties to a foreign
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Thailand
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by Thailand was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes
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OECD: Peer Review Report on Dispute Resolution Mechanisms in the UAE
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by the United Arab Emirates (UAE) was published by the OECD’s Inclusive Framework on 13 September
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Qatar
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by Qatar was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Oman
The second stage peer review report on Oman’s implementation of the minimum standard under BEPS Action 14 (making dispute resolution mechanisms more effective) was published by the OECD’s Inclusive Framework on 13 September 2022. The report
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Ireland: Revenue issues guidance on attribution of profits to a branch
On 7 September 2022, the Irish Revenue published an eBrief No. 166/22 on the attribution of profits to a branch. Accordingly, Tax and Duty Manual Part 02-02-04a has been issued to provide an overview and guidance in relation to the attribution of
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World Tax Brief: September 2022
Argentina Advance payments due: On 16 August 2022, the Argentine tax authority published General Resolution No. 5248/2022, requiring a one-time tax payment for certain large companies that benefitted from deducting losses due to the
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Argentina: MoE publishes new late tax payment and refund interest rates
On 23 August 2022, the Argentine Ministry of Economy published Resolution 559/2022, which provides new rates for late tax payments and reimbursement interest. The latest repeals Resolution 598/2019, which established rules for setting interest rates
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Taiwan: MOF exempts FINI on physical WHT statements
On 2 September 2022, the Ministry of Finance (MOF) of Taiwan issued a press release to provide an exemption for a Foreign Institutional Investor (FINI) in case of physical withholding tax (WHT) statements when applying for the reduced tax rate in
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Taiwan: MOF exempts provisional income tax payments from January to June 2022
Recently, the Ministry of Finance of Taiwan provides an exemption on provisional income tax payments for the period January to June 2022. The exemption is provided for provisional income tax returns in September 2022 for companies affected by the
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Angola reduces WHT rate on services for nonresident legal entities
On 22 August 2022, Angola published Law no. 27/22 in the Official Gazette amending the Corporate Income Tax Code. Accordingly, the withholding tax (WHT) rate on services paid to non-residents has been reduced to 6.5% from 15%. The rate is effective
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El Salvador: Legislative Assembly adopts tax amnesty program
On 24 August 2022, the Legislative Assembly of El Salvador approved tax amnesty program that allows taxpayers voluntarily come forward, accurately declare their income and pay any undeclared or underreported taxes. The El Salvador tax authorities
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US: IRS provides broad-based penalty relief for certain 2019 and 2020 returns
To help struggling taxpayers affected by the COVID-19 pandemic, on 24 August 2022, the Internal Revenue Service issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The relief
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