Croatia: Government proposes tax relief measures for coronavirus
On 17 March 2020, the government proposed some tax relief measures for the coronavirus epidemic. The measures are given below: Deferment of paying income tax or to arrange an instalment payment plan for their tax liabilities, social
See MoreBulgaria: Government proposes tax and economic measures during COVID-19 pandemic
On 13 March 2020, Bulgaria declared a state of emergency as a result of the spread of COVID-19 and on 15 March 2020, the government proposed the following tax and economic measures: Deadline for submission of the annual corporate income tax
See MoreFrance: President announces to postpone the deadline for payment of taxes
On 12 March 2020, the President, Emmanuel Macron, announced that the deadline for the payment of taxes and social security contributions will be postponed from during March 2020 for all companies due to coronavirus outbreak. Also, the President
See MoreCOVID-19: Icelandic parliament passes legislation providing postponement of tax payments
On 13 March 2020, the parliament of Iceland has passed a legislation that provides for the postponement of tax payments. Legal entities are permitted to postpone the payment of half of the social security tax, that was originally due on 16 March
See MoreCanada: Prime Minister announces a Plan to provide support for businesses during COVID-19 pandemic
On 13 March 2020, the Finance Minister, Bill Morneau, announced COVID-19 Economic Response Plan to help stabilize the economy and help Canadians affected by the impacts of the COVID-19 pandemic period. To support Canadian businesses during this
See MoreIMF Blog Outlines Fiscal Policy Responses to the Health Crisis
An IMF blog published on 5 March 2020 is concerned with fiscal policy responses to the outbreak of coronavirus. The blog emphasises that the priority for governments is health spending for prevention and cure, and to ensure that health services
See MoreNigeria: FIRS issues a public notice regarding tax payment deadlines
On 21 February 2020, the Federal Inland Revenue Service (FIRS) issued a public notice, which states the deadlines for tax payment under the Finance Act 2019. According to the notice, the FIRS notified the general public, companies, and taxpayers
See MoreSingapore: Summary of tax updates in Budget 2020
On 18 February 2020, the Inland Revenue Authority of Singapore (IRAS) has published an overview of tax changes in the Budget Statement for the Financial Year 2020. Some of the main changes for businesses are summarized as
See MoreVenezuela: Government publishes decrees regarding tax reform
On 29 January 2020, three decrees were published in the Official Gazette for introducing a new tax code, amending the VAT Law and customs Law. It was approved by the Constituent Assembly on the similar day. Withholding taxes due One of three
See MoreArgentina: Government publishes General Resolution on dividend WHT rate
On 14 January 2020, the Government issued a General Resolution 4662/2020, which establishes procedures and deadlines for withholding tax payments on dividends paid by a permanent establishment to its parent company. With effect as from 14 January
See MoreEcuador: Government publishes tax reform for 2020
On 31 December 2019, the Government published tax reform 2020 through Law of Simplicity and Tax Progressivity (Law No. SAN-2019-1270) in the Official Gazette. The Law effects from 1 January 2020. Some of the key provisions are given
See MoreEcuador: President made objections on second tax reform bill
On 14 December 2019, the President, Moreno, made objections on the second tax reform bill approved by the National Assembly. Accordingly, he proposed to limit the application of the thin-capitalization rules to inter-company loans. Accordingly,
See MoreEcuador presents new tax reform Bill
On 21 November 2019, the Ecuadorian National Assembly presented a new draft of the Tax Reform Bill on "Tax Simplicity and Progressiveness" following the rejection of the previous draft law on economic growth reform submitted to Congress on 18
See MoreTaiwan: NTBCA issues notice on withholding tax for profit-seeking enterprises
On 9 August 2019, Taiwan's National Taxation Bureau of the Central Area (NTBCA) has issued a notice clarifying that profit-seeking enterprises should file withholding tax during prescribed period. The authority indicates that profit-seeking
See MoreArgentina: AFIP updates resolution on advance payment of tax
On 12 July 2019, the Federal Administration of Public Revenues (AFIP) of Argentina has published General Resolution No. 4522/2019 amending several provisions of General Resolution 4034 which was issued in 2017. The resolution modifies the
See MoreEcuador: SRI issues decree on advance income tax payments
On 5 July 2019, the Ecuadorian Internal Revenue Service (Servicio de Rentas Internas-SRI) issued Executive Decree No. 806 of 25 June 2019 in its official website. The decree introduces new schedule for advance income tax payments. The payment of
See MoreHungary plans to take several tax measures for maintaining economic growth
On 31 May 2019, the Ministry of Finance announced the Government-approved Action Plan for the Protection of the Economy. To help small businesses, the small business tax rate (KIVA) will be reduced from 13% to 12% from 1 January 2020. The tax cut
See MorePuerto Rico publishes Circular regarding new quarterly tax return for withholding Payments for services provided
On 4 April 2019, the Puerto Rican Department of Treasury issued a Circular Letter No. 19-10 regarding new quarterly tax return for withholding Payments for services provided, using a new quarterly return form(Form 480.6 SP-1). The
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