Netherlands introduces conditional withholding tax
On 2 November 2021, the parliament of the Netherlands approved the conditional withholding tax (WHT) rate of 25% on dividends paid to low tax jurisdictions. The conditional withholding tax will apply from 1 January 2024 on dividend payments to
See MoreBrazil: Senate announces to analyze tax reform Bill
On 21 September 2021, the Senate made an announcement that the Senate will analyze tax reform Bill, PL 2.337/2021 , a bill that changes the income tax rules. The Bill represents the second phase of the tax reform, which was approved by the Chamber
See MoreSouth Africa: SARS publishes 2021 tax guide
On 30 August 2021, the South African Revenue Service (SARS) published 2021 Tax Guide or Budget 2021 Tax Guide, which provides a synopsis of the most important tax, duty and levy related information for 2021/22. The guide includes the Tax
See MoreCanada: The Budget implementation Bill 2021 receives Royal Assent
On 29 June 2021, the 2021 Budget Implementation Act (“Bill C-30”) received Royal Assent, which includes certain tax measures that were proposed in the 2021 Federal Budget, the 2020 Fall Economic Statement, and the 2019 Federal Budget. Bill
See MoreBrazil: Executive Branch sends second phase of draft tax reform to Congress
On 25 June 2021, the Executive Branch sent the second stage of the tax reform proposal to Congress. This Tax reform includes the following changes: Government proposed to reduce the corporate income tax rate from 15% to 12.5% in 2022 and to 10%
See MoreArgentina: Senate approves the bill regarding progressive CIT rates
On 2 June 2021, the Senate approved the revised draft bill, which introduces new progressive corporate income tax (CIT) rates starting from 1 January 2021. It was approved by the Chamber of Duties on 20 May 2021. According to the draft Bill, the
See MoreArgentina: Chamber of duties approves a bill regarding progressive CIT rates
On 20 May 2021, the Chamber of Duties approved a revised draft bill, which introduces new progressive corporate income tax rates starting from 1 January 2021. The bill has been sent to the Chamber of Senators for final approval. According to the
See MoreColombia: President announces withdrawal of tax reform after protests
On 2 May 2021, Colombian President Ivan Duque has announced that he would withdraw the proposed tax reform which was submitted to Congress on 15 April 2021. This decision came at such a time when multiple deaths occurred around the country since
See MoreUS: IRS publishes revised CFC practice unit guidelines
On 22 March 2021, the U.S. Internal Revenue Service has published a revised international practice unit on Receipt of Dividends or Interest from a Related CFC. This Unit was revised to include the extension of the IRC 954(c)(6) look through rule
See MoreNamibia: MOF publishes the 2021/22 Budget Statement
On 17 March 2021, the Ministry of Finance has published the budget statement for 2021/22 providing the following tax reforms: There were no proposed increases or changes to the main tax brackets.Budgeted expenditure for the 2022 year will be
See MoreArgentina: Government proposes progressive corporate tax reform
In mid-March the government led by the president, Alberto Fernández, sent a bill to Congress that lays out the details of a progressive reform to corporate income tax. The latest reform being proposed by the Fernández administration would
See MoreBotswana: Finance Minister presents Budget for 2021 to the National Assembly
On 1 February 2021, Dr. Thapelo Matsheka, Botswana’s Minister of Finance and Economic Development has presented National Budget for the fiscal year 2021 to the National Assembly. The Budget contains a number of important tax measures. The key
See MoreIndia: Central Board of Direct Taxes (CBDT) publishes finance act 2020
On 27 March 2020, the Central Board of Direct Taxes (CBDT) published the Finance Act 2020 that includes measures announced as part of the Union Budget 2020-2021 and others. The measures of the Finance Act generally apply from 1 April 2020 (or
See MoreEcuador: Internal Revenue publishes rules on dividend withholding tax
On 20 February 2020, the Internal Revenue Service published a Resolution NAC-DGERCGC20-00000013 of 20 February 2020 regarding rules of how to distribute the dividend withholding tax (WHT) by a resident company or a permanent establishment in
See MoreColombia publishes decree amending the taxation of dividend income
On 31 December 2019, the Colombian Ministry of Finance and Public Credit (MinHacienda) has published Decree 2371 of 27 December 2019 on its website which amends the dividend income tax. The Decree regulates the tax and withholding tax on dividends
See MoreGreece: Public Revenue Authority publishes a Circular for clarifying about dividend tax rate
The Public Revenue Authority (AADE) published Circular E. 2012 of 30 January 2020, which provides guidance on reducing the withholding tax (WHT) rate from 10% to 5% under the provisions of article 24 of Law 4646/2019. This also states that this
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 MoreGreece: Government publishes Law 4646/2019 in the Government Gazette
On 12 December 2019, the President announced that Law 4646/2019 was published in Government Gazette. Corporate tax According to Law, as from 1 January 2020, corporate tax rate will be reduced from 28% to 24% for all legal entities for the
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