Ghana: Parliament approves tax measures in response to COVID-19 outbreak
On 1 May 2020, the Parliament of Ghana passed the Income Tax (Amendment) Bill 2020 to introduce several emergency tax measures in response to Covid-19 pandemic. The approved income tax measures are as follows: An individual who makes withdrawals
See MorePeru: SUNAT issues Decree on tax payment deferral regime amid COVID-19
On 10 May 2020, the Peruvian Tax Administration (SUNAT) has issued Legislative Decree No. 1487, through which the tax payment deferral regime is established in response to COVID-19. the deferral regime of the tax debts administered by SUNAT, which
See MoreAlgeria: Council of Ministers organizes a meeting regarding draft Finance Bill 2020
On 10 May 2020, the Council of Ministers arranged a meeting by video conference regarding the discussion and approval of draft Finance Bill 2020. In that meeting, following issues were coming up: The deadline extension of the 50% reduction in
See MoreColombia extends annual financial statements filing deadline amid COVID-19
On 8 May 2020, Colombia has issued Circular Letter 100-000009 extending the deadlines for filing financial statements for the year 2019 due to COVID-19 pandemic. The deadline for companies (including branches of foreign companies) for filing
See MoreUruguay further extends tax returns submission deadlines amid COVID-19 pandemic
The Directorate General of Taxation (DGI) of Uruguay has published Resolution 707/2020 of 20 April 2020. The resolution extends deadline for annual tax payment and returns due to COVID-19 pandemic. This includes that taxpayers, except those
See MoreBelgium revises tax return filing deadlines
On 5 May 2020, the Belgian Ministry of Finance has announced that "Tax-on-web" on the MyMinFin portal is now available for income tax returns. The announcement also lists out the tax return filing deadlines for individual and companies in 2020, as
See MoreAustralia extends lodgment due date amid COVID-19 pandemic
In response to COVID-19, the Australian taxation office (ATO) extended the lodgment day for 2018–19 company tax returns for many companies: Returns that were due on 15 May 2020 under the tax agent lodgment program have been automatically
See MoreBelgium clarifies interest restriction rule due to COVID-19 pandemic
On 5 May 2020, the tax authority of Belgium published Circular No. 2020/C/62 providing new clarifications on the “grandfathering” rule, under the interest deduction limitation rule, loans made before 17 June 2016 are excluded from the scope of
See MoreNigeria: FIRS issues several Circulars on provisions of tax laws amended by Finance Act 2019
On 9 May 2020, the Federal Internal Revenue Service (FIRS) issued the following Information Circulars numbered through 2020/02 – 08. The Circulars provides guidance to stakeholders regarding the interpretation of the amendments to extant tax laws
See MoreWorld Tax Brief: May 2020
AlgeriaFiling return: The Directorate General of Taxes made a postponement of annual tax return submission deadline for 2019 until 31 May 2020 for the taxpayers registered at the DGE.See the story in RegfollowerAngolaDue dates main corporate income
See MoreUS: Tax court ruled in favor of the IRS for Whirlpool vs Commissioner case
On 5 May 2020, the US tax court made a decision in favor of the IRS a case involving the Whirlpool Financial Corp. and related foreign affiliate corporations. The Court upheld the Internal Revenue Service's (IRS) application of the Subpart F
See MorePeru extends carry forward loss period in response to COVID-19
On 8 May 2020, Peru has published Legislative Decree No. 1481 in the official gazette extending the carry forward loss period in response to COVID-19. It is established that loss incurred in the 2020 taxable year, can be carried forward for up to
See MoreOECD: Tax Talk Summarises Ongoing Tax Projects
A Tax Talk held by the OECD on 4 May 2020 summarised the position on the current tax work in connection with the Covid-19 crisis and on the base erosion and profit shifting (BEPS) project. Tax measures in the Covid-19 crisis The Forum on Tax
See MorePeru: SUNAT further modifies tax filing deadline amid COVID-19 pandemic
On 29 April 2020, the Peruvian tax authorities (SUNAT) issued Resolution No. 075-2020/SUNAT in the Official Gazette modifying previous Resolution No. 055-2020/SUNAT and 065-2020/SUNAT in response to COVID-19 pandemic. The Resolution further
See MoreGuatemala: SAT provides tax payment procedures amid COVID-19 pandemic
Recently, the Guatemala tax authority (SAT) has provided tax payment procedures for individual and corporate taxpayers in response to COVID 19 pandemic. Taxpayers will download form SAT-821; send to the corresponding email, according to their
See MoreCOVID-19: Mozambique announces tax relief measures due to coronavirus
The Council of Ministers Mozambique approved the Decree No. 23/2020, of 27 April which includes a number of fiscal and customs measures in response to coronavirus pandemic. The Decree contains the following measures that are valid until 31
See MoreMalta extends electronic filing extension of CIT returns amid COVID-19
On 29 April 2020, Malta’s Commissioner for Revenue has notified that the deadlines for the electronic filing of corporate income tax (CIT) returns for the have been extended as follows: Financial Year EndingManual Return DeadlineElectronic
See MoreColombia modifies deadlines for filing annual financial statements amid COVID-19
On 24 April 2020, Colombia has issued Circular Letter 100-000008 modifying the deadlines for filing financial statements for the year 2019 due to COVID-19 pandemic. The Circular Letter modifies the previous Circular Letter 100-000007 of 8 April
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