Germany: Ministry of Finance announces extensive expansion of the Corona aid
The German Ministry of Finance has declared the extensive expansion of the Corona aid. In order to support companies, self-employed and freelancers who are affected by closings and massive drops in sales in the corona pandemic, the Federal Ministry
See MoreIndia: Direct Tax highlights for 2020
By Sachin Garg, Partner- Direct Taxation, Nangia Andersen LLP Sachin.garg@nangia-andersen.com+91 93502 93097 The year 2020 has already become an unforgettable year to the unprecedented global pandemic across the world, nation-wide
See MoreMorocco: Finance Law 2021
On 18 December 2020, Morocco's Ministry of Finance has published the Finance Law for 2021 in the Official Gazette. The measures of the Finance Law generally apply from 1 January 2021. Key measures are summarized as follows: Social
See MoreEgypt: MOF publishes form and guidelines on the tax treatment of capital gains
On 16 December 2020, the Egyptian Ministry of Finance (MOF) published a decree (No. 610 of 2020) setting out the tax treatment of capital gains from the sale or disposal of unlisted shares by non-residents. The decree also published the
See MoreGreece: AADE publishes preferential tax regime status for the 2019
On 7 December 2020, the Greek Public Revenue Authority (AADE) published Circular No. A.1267 of 7 December 2020, which determines the states that have a preferential tax regime based on the provisions of par. 6 and 7 of article 65 of law 4172/2013
See MoreThailand declares incentives to increase investment and promote digital adoption
21 December 2020, the Thailand Board of Investment (BOI) approved a series of measures to accelerate investments, particularly in target industries and to encourage business to adopt digital technologies. "The package to promote large scale
See MorePakistan declares incentives for Special Technological Zones
On 2 December 2020, the Ministry of Law and Justice of Pakistan has issued a copy of the Special Technology Zones Authority Ordinance 2020, Gazette on 3 December 2020 and applies with immediate effect. The Ordinance introduces supporting
See MoreUkraine: Parliament accepts changes to recently implemented BEPS legislation
On 17 December 2020, the Ukrainian Parliament has accepted a tax reform bill, which contains important changes to recently implemented BEPS legislation. The following important changes were introduced related to recently implemented BEPS and other
See MoreOECD publishes public comments on proposals on taxation of the digital economy
On 16 December 2020 the OECD published comments received on the Blueprints outlining the remaining issues involved in finalising the work on Pillar One and Pillar Two of the proposals on tax challenges arising from the digitalisation of the
See MoreEgypt makes some changes to the Unified Tax Procedure Law
On 3 December 2020, Egypt has published Law No. 211 in the official gazette. The Law makes some important changes to the recently published Unified Tax Procedure Law (Law no. 206 of 2020). The new Law mainly changes transfer pricing non-compliance
See MoreNetherlands updates tax rates for 2021
The Dutch Ministry of Finance has issued an overview of the main tax changes for 2021, which were approved by the Senate on 15 December 2020. The main tax changes are as following: The lower corporate income tax (CIT) rate is reduced from
See MoreSweden: Parliament approved Budget for 2021
On 17 December 2020, the Swedish Parliament (Riksdag) has approved Budget for fiscal year 2021. The Budget includes the following key tax measures: Temporary tax reduction of 3.9% of the acquisition value of machinery and equipment
See MoreArgentina: AFIP again extends the deadline for beneficial ownership declaration
On 12 December 2020, the Federal Administration of Public Revenue (AFIP) Officially published General Resolution 4878/2020 of 12 December 2020, which provides new definitions and rules for beneficial ownership disclosures. According to the new
See MoreAustria: Parliament approves winter package due to COVID-19 pandemic
On 17 December 2020, the Parliament approved the COVID-19 Tax Measures Act. Recently, the Ministry of Finance has announced the draft winter package on tax measures for the coronavirus outbreak. The package includes the measures to introduce the
See MoreOECD: Implementation of transfer pricing for hard-to-value intangibles
On 16 December 2020 the OECD published information setting out the extent to which member countries of the Inclusive Framework have implemented the recommendations on hard to value intangibles (HTVI) drawn up as part of the OECD/G20 project on base
See MoreOECD: Transfer Pricing Implications of the Pandemic
On 18 December 2020 the OECD issued Guidance on the transfer pricing implications of the COVID-19 pandemic. This looks at the impact of the pandemic on areas of the transfer pricing analysis and APAs. Comparability analysis The pandemic and
See MoreCosta Rica: Ministry of Finance publishes new CIT rates for 2021
On 8 December 2020, the Costa Rican Ministry of Finance has published the Executive Decree No. 42733-H providing new corporate tax brackets for 2021. Decree No. 42733-H enters into force on 1 January 2021 and replaces the prior decree on rates
See MoreAustralia: ATO issues guidance on loss carry back tax offset
The Australian Taxation Office (ATO) published guidance on the loss carry back offset relief introduced as part of measures for the 2020-21 Budget. Loss carry back provides a refundable tax offset that eligible corporate entities can
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