Taiwan: 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
See MoreEcuador: SRI issues circular regarding income tax law
On 9 April 2019, Ecuador’s Internal Revenue Service (SRI) issued Circular No. NAC-DGECCGC19-00000003. The circular makes a reminder about the application of the legal regulations in force for the determination of income tax for the fiscal year
See MoreNicaragua publishes tax law for 2019
On 28 February 2019, Nicaragua issued tax amend law No.987 in the Official Gazette including notices of the amendment of applicable withholding tax rates. Major changes are summarized in below: Establishing the changes in the alternative
See MoreArgentina introduces installment payment option for tax assessment cases before the tax court
On 01 March 2019, the Federal Administration of Public Revenues (AFIP) has published General Resolution 4434 in the official gazette introducing an installment payment facility for tax liabilities in relation to tax assessments that are under
See MoreFrance: Parliament legislates the Finance Act for 2019
The French Finance Act passed its constitutional review for 2019 on 28 December 2018. This follows the approval of the law by Parliament on 20 December 2018. The main measures of the law are summarized as follows: Corporate Income tax rate:
See MorePakistan: Finance Supplementary (Second Amendment) Bill submits in Parliament
On 23 January 2019, Pakistan’s draft Finance Supplementary (Second Amendment) Bill, 2019 was submitted to the National Assembly. The finance minister clarified that, "This is not a budget, this is a corrective package aimed at addressing various
See MoreNigeria: Reminder on due date for submitting CIT returns for June, 2018
For companies having an accounting year end of December 31, 2017, must submit their company income tax (CIT) return by June 30, 2018 to Federal Inland Revenue Service (FIRS). They also have to submit capital gain tax (CGT), education tax (EDT), and
See MorePakistan: Finance Minister presents the budget for 2017/2018
On 27 April 2018, the newly-appointed Finance Minister Miftah Ismail presented the 2018/2019 Budget to parliament. The following corporate tax measures are proposed in the Budget: Reduction in corporate tax rates: Reduce the corporate tax rates
See MoreBelgium: Advance payment notice for 2018
Belgium has published a notice from the Federal Public Service (SPF) Finance in the Official Gazette that includes an explanation of the rules on advance income tax payments for the 2018 tax year (2019 assessment year). Advance tax payments are
See MoreSlovak Republic: Government approves several tax amendments
The President has signed an amendment to Law No. 595/2003 Coll. on Income Tax on December 20, 2017. Some of the changes are given below: Related party transaction In accordance with the current amendment, the text of the related party definition
See MoreEcuador: President signs decree for reduction of advance tax payment
On 20 November 2017, Mr. Lenín Moreno, the President of Ecuador signed Executive Decree No. 210, regarding decrease of income tax advance payments corresponding to the tax year 2017. The Decree provides a 100% reduction for individuals and
See MoreUK: New Guidance of installment payments for corporate tax
HMRC has published a policy paper on the new corporation tax installment payment requirements for very large companies for accounting periods that begin on or after 1 April 2019, that is companies with taxable profits of more than £20 million, will
See MoreItaly: Cabinet approves 2018 budget bill
The Council of Ministers of Italy approved the draft Budget Law for 2018 on 16 October 2017. The main tax measures according to the approved Budget law are as follows: -incentives specifically on the temporary accelerated depreciation regime, the
See MoreArgentina: AFIP announces a new portal for taxpayers
The Federal Public Revenue Administration (AFIP) launched a new portal service, in which taxpayer will find information about the fiscal situation and the personal data related to the agency. In order to access this portal, people have to enter with
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