Australia: ATO releases 2022-23 corporate tax transparency report
The Australian Taxation Office (ATO) has published its Corporate Tax Transparency Report for 2022-2023, featuring data on the specified population on 1 November 2024. This year's Corporate tax transparency report analyses aggregated data from the
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India scraps tax cases due to higher appeals thresholds
India's Press Information Bureau released a statement from the Ministry of Finance regarding the Supreme Court's resolution of 573 tax cases on 24 September 2024. The measures are expected to significantly reduce the burden of tax litigation and
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Brazil updates reporting requirements for legal entities with tax benefits
Brazil published Normative Instruction No. 2.216 in the Official Gazette, on 5 September 2024, which updates and supersedes the annex of Normative Instruction No. 2.198 from 17 June 2024 (Declaration of Incentives, Waivers, Benefits, and Immunities
See MoreAustralia: ATO provides guidance on taxable payments annual reports for contractor services
The Australian Taxation Office (ATO) released guidance on 24 July 2024 for businesses that may need to submit a Taxable Payments Annual Report (TPAR) by 28 August 2024 concerning services provided by contractors. Businesses that offer services
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Brazil sets new reporting rules for tax-benefited legal entities
On 4 June 2024, Brazil published Provisional Measure No. 1.227 of 4 June 2024 in the Official Gazette. This bill introduces new reporting rules for legal entities that benefit from tax incentives, tax waivers, and other tax-related
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Ecuador: SRI updates 2023 tax compliance report deadlines
Ecuador's Internal Revenue Service (SRI) in a notice, announced an updated annex for the annual tax compliance report for the fiscal year ending 31 December 2023. The notice outlines submission deadlines, which range from 10 July to 28 July,
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UK: HMRC issues update on Belarus tax treaty suspension
The UK HMRC has released an update regarding the tax treaty with Belarus. The UK urges Belarus to reverse its suspension of the treaty, and affirms that it remains in effect and that the UK continues to adhere to its terms. Earlier, Belarus
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Finland: Belarus’ suspension will have no impact on tax treaty
Finland's Ministry of Finance released Notification 48/2024 concerning the ongoing enforcement of the 2007 tax treaty with Belarus on Monday, 13 May, 2024. Belarus has ceased the application of Articles 10, 11, and 13 from 1 June, 2024, to 31
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UK: HMRC urges early filing for 2023/2024 self assessment tax returns
His Majesty's Revenue and Customs (HMRC) published a release on 8 May, 2024, advocating the early filing of self-assessment returns for the 2023/2024 tax year. Customers can file their Self Assessment returns for the 2023 to 2024 tax year between
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Singapore: IRAS publishes updated guidance on audits and investigations on missing trader fraud arrangements
The Inland Revenue Authority of Singapore (IRAS) has released an updated guidance on conducting audits and investigations related to Missing Trader Fraud Arrangements. IRAS identifies Missing Trader Fraud arrangements to be one of the key
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OECD releases ICAP statistics
On 29 January 2024 the OECD released the first aggregated statistics from the Forum on Tax Administration’s International Compliance Assurance Programme (ICAP). ICAP The ICAP is a voluntary risk assessment and assurance program whose
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OECD: Revenue Statistics in Asia and the Pacific 2023
On 25 July 2023 the OECD issued Revenue Statistics in Asia and the Pacific 2023, setting out revenue data for the region from 2021. The latest edition of the annual publication includes data on tax revenues for 30 jurisdictions in the region and
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Luxembourg: Government submits draft bill on transfer pricing and general tax procedures
On 28 March 2023, the Luxembourg government submitted Bill No. 8186 to the Parliament. The bill includes changes in advance pricing arrangement (APA), mutual agreement procedure (MAP), compliance with transfer pricing documentation requirements, and
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Kuwait: Ministry of Finance introduces sampling basis tax inspection process
On 2 April 223, the Kuwait Ministry of Finance published Ministerial Resolution No. 24 of 2023 in the Official Gazette introducing a new tax inspection process. At present, the Ministry of Finance has subjected each tax declaration filed by a
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OECD: Supporting SMEs with Tax Compliance
On 20 May 2022 the OECD’s Forum on Tax Administration published a report entitled Towards Seamless Taxation – Supporting SMEs to Get Tax Right. The report looks at efforts by tax administrations to integrate taxation processes into the
See MoreIndia publishes Finance Act 2022
On 30 March 2022, the government published the Finance Act 2022 in the Official Gazette. The law implements the measures of the Union budget 2022-2023 presented in February 2022. The law includes the following corporate tax measures: A new
See MoreArgentina: AFIP extends suspension of prosecution proceedings for tax collection again
In response to corona virus pandemic, on 26 March 2021, the Federal Public Revenue Administration (AFIP) published General Resolution 4953/2021 of 26 March 2021, providing further suspension up to 31 May 2021 regarding the initiation of prosecution
See MoreArgentina: AFIP again extends suspension of prosecution proceedings for tax collection
In response to corona virus pandemic, on 25 February 2021, the Federal Public Revenue Administration (AFIP) published General Resolution 4936/2021 of 25 February 2021, providing further suspension up to 31 March 2021 regarding the initiation of
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