Ireland: Revenue publishes a guidance regarding ePSWT implementation
On 22 April 2021, the Revenue published a guidance, which was proposed to introduce electronic Professional Service Withholding Tax (ePSWT) from 1 July 2021. Section 13 of the Finance Act 2020 provides for an electronic Payment Notification through
See MoreSlovenia: MoF proposes several amendments to tax changes
On 16 April 2021, the Slovenian Ministry of Finance (MoF) has proposed several amendments to tax changes including the Bill on Amendments to the Value Added Tax (VAT) Act, the Bill on Amendments to the Corporate Income Tax Act, and the Bill on
See MoreKenya: High Court suspends the implementation of minimum tax
On 19 April 2021, the Kenyan High Court issued an order suspending the implementation of the new Kenyan minimum tax on gross corporate income. The suspension order has been issued the day before the first installment of the tax was due. The Kenya
See MoreUN: Third edition of the Practical Manual on Transfer Pricing for Developing Countries
Following approval at the twenty-second session of the UN Committee of Experts on International Cooperation in Tax Matters, held from 19 to 28 April 2021, the UN has published the third edition of its Practical Manual on Transfer Pricing for
See MoreMalta: CFR notifies about 2020 Tax Returns for Fiscal Units
On 20 April 2021, the Maltese Commissioner for Revenue (CFR) has notified that the facility to upload and submit the income tax return and the supplemental document for Year of Assessment 2020 required to be filed by a principal taxpayer in respect
See MoreSaudi Arabia issues circular on Force of Attraction rule in the Context of PE
The Saudi Arabian General Authority for Zakat and Tax (GAZT), in April 2021, published Circular No. 2104001, entitled Force of Attraction rule in the context of permanent establishment (pdf). The Circular confirms the GAZT’s approach to applying
See MoreAlgeria: DGT issues a communiqué to extend the filing deadline of tax return 2020
The Directorate General of Taxes has recently issued a communiqué, which provides extension of filing deadline of annual tax returns (including balance sheet and appendices) 2020 until 30 June 2021 for all
See MoreVietnam approves tax payment relief amid COVID-19 pandemic
On 22 April 2021, Vietnam has issued Decree No. 52/2021/ND-CP providing support for business affected by COVID-19 pandemic. The main tax measures of the Decree are following: Corporate Income Tax The Decree provides 3 month deferral of
See MoreColombia extends payment deadline for micro and small companies
On 9 April 2021, the Colombian Ministry of Finance and Public Credit has published Decree No. 374 by which the corporate income tax payment of micro and small companies has been extended amid COVID-19 pandemic. The first installment is between 9
See MoreIreland: Revenue issues eBrief to update dividend withholding tax
On 14 April 2021, the Revenue issued an eBrief No. 084/21 to announce a Tax and Duty Manual to update the guidance on dividend withholding tax (DWT). This manual has been updated following amendments made to Dividend Withholding Tax legislation by
See MoreCanada: Finance Minister presents Budget 2021
On 19 April 2021, the Finance Minister, Chrystia Freeland, presented Budget 2021, which includes important business tax measures, digital service taxes, limitation of interest deduction, hybrid mismatch arrangements, transfer price cases, mandatory
See MoreCroatia: Parliament approves second package of measures due to COVID-19
On 7 April 2021, the Croatian Parliament approved all measures proposed by the Government as the second package of measures for the COVID-19 outbreak. Some of the measures are given below: Corporate tax According to the second package, the
See MorePhilippines: BIR publishes regulations to implement CREATE Act
On 8 April 2021, the Bureau of Internal Revenue (BIR) Officially published final revenue regulations (Revenue Regulations No. 2-2021, Revenue Regulations No. 4-2021, Revenue Regulations No. 5-2021) for the implementation of the Corporate Recovery
See MoreColombia reduces advance payment of income tax for 2021
On 9 April 2021, the Colombian Ministry of Finance and Public Credit has published Decree No. 375, through which it reduces the advance payment to be made by income taxpayers in the year 2021 as a consequence of the emergency generated by
See MoreFinland extends filing deadline for CIT returns by one month
On 9 April 2021, Finnish Tax Administration has published an announcement providing one-month extension of filing deadline for corporate income tax returns. Due current pandemic situations, the Tax Administration is giving corporate entities and
See MoreColombia: Government submits Tax Reform Bill to Congress
On 15 April 2021, the Colombian government has submitted new Tax Reform Bill (Sustainable Solidarity Act) to Congress. The Bill modifies corporate income tax (CIT), value-added tax (VAT) and personal income tax. The main tax measures of the Tax
See MoreIsrael extends tax return submission deadline for the 2020 tax year
On 7 April 2021, the tax authority of Israel declared the extended deadline for submitting annual income tax returns in response to the Covid-19 pandemic. The declaration includes that the deadline is extended to 30 June 2021 for submitting annual
See MoreChina declares reduced tax rate for small enterprises
On 2 April 2021, the State Administration of Taxation (SAT) of China has published Announcement No. 12 of 2021 regarding income tax rate reduction for small and low-profit businesses and sole traders. The announcement includes that for the
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