Costa Rica establishes objective selection criteria, specific risk criteria for report under CRS
Costa Rica published Resolution MH-DGT-RES-0019-2024 in the Official Gazette on 23 August 2024, establishing objective selection criteria and specific risk criteria for overseeing the reporting of financial accounts under the Common Reporting
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US: Wisconsin to join IRS 2025 direct filing season
The US Department of the Treasury and Internal Revenue Service (IRS) announced that Wisconsin is the next state to join the IRS Direct File for Filing Season 2025 on 21 August 2024. IRS Direct File was made possible by President Biden’s
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Kenya considering penalty waiver for tax agents delaying remittances
Kenya’s Parliament announced in a Facebook post that it is evaluating the Kenya Revenue Authority (Amendment) Bill 2024, which was first presented on 15 August 2024. The bill is currently under review by the Committee on Finance and National
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Turkey extends submission, payment deadlines for Q2 income and corporate tax
Turkey's Revenue Administration has extended the return submission and payment deadline for the second quarter tax period of the 2024 accounting period for income and corporate tax from 19 August 2024 to 27 August 2024. The announcement was made
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Colombia clarifies reporting obligations for overseas assets
Colombia’s National Tax Authority (DIAN) has clarified that overseas assets and shares held in a foreign company owned by Colombian companies must be reported in the tax return. The clarification was published in Opinion 100208192-628 of 2024
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Turkey publishes regret declaration guide
Turkey's Revenue Administration published a Regret Declaration Guide on Wednesday, 21 August 2024, outlining the regret and correction scheme. The scheme enables taxpayers to voluntarily disclose illegal activities that have led to tax losses. By
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Panama extends CRS filing deadline
Panama’s tax administration (Dirección General de Ingresos—DGI) has extended the common reporting standard (CRS) filing deadline for the fiscal year 2023 until 2 September 2024. The previous reporting deadline was set for 31 July
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Guatemala launches tool for third-party RTU management for taxpayers
Guatemala’s tax agency, Superintendencia de Administración Tributaria (SAT), has launched a new tool enabling authorised third parties to manage taxpayers' Unified Tax Registry (RTU) through SAT's virtual platform. The tool was introduced
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Puerto Rico extends deadline for 2023 financial statements filing, property tax filing
Puerto Rico’s Department of State announced on 12 August 2024, that it extended the deadline for filing the 2023 annual report with audited financial statements to those corporations or legal entities that accepted the second extension to
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Argentina sets deadlines for new tax, customs, social security regularisation
The Argentine tax authority (AFIP), in a release, on 15 August 2024, provided clarification about the "My Facilities" system, which taxpayers must utilise to participate in the regularisation regime for tax, customs, and social security obligations
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US: IRS urges early registration for 2023 payment, transfer claims
The US Internal Revenue Service released IR-2024-210, which strongly urges qualifying businesses, tax-exempt organisations, and state, local, and Indian tribal governments to complete the pre-filing registration process now for projects placed in
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US: Connecticut joins IRS direct file for 2025 tax season
The US Department of the Treasury and Internal Revenue Service (IRS) announced, on 9 August 2024, that Connecticut will join the IRS Direct File for Filing Season 2025. The IRS Direct File was made possible by President Biden’s Inflation
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Italy issues decree for tax collection system reform
Italy’s government has enacted Legislative Decree No. 110 of 29 July, 2024 mandating a comprehensive reorganisation of the tax collection system under Law No. 111 of 9 August 2023. Earlier, the Legislative Decree No. 110 of 29 July, 2024 was
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Romania enforces ex officio changes to taxpayers’ register
Romania has published Order No. 3792/2024 in Official Gazette No. 774, on 7 August 2024,outlining the procedure for amending the Taxpayers' Register ex officio when taxpayers fail to fulfil their obligation to update their information. The tax
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Italy issues decree on tax compliance, preventive composition procedure
Italy’s government has published Legislative Decree No. 10 of 5 August 2024 in the Official Gazette, which implements new measures aimed at enhancing the preventive composition procedure and simplifying tax compliance. The Legislative Decree
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Turkey extends Q2 2024 provisional tax return deadline
Turkey's Revenue Administration has announced an extension for the submission of the provisional tax return for the second quarter of the 2024 accounting period. The deadline has been moved from 19 August 2024 to 27 August 2024. Normally,
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Angola extends tax compliance deadline for July
Angola’s General Tax Administration (AGT) announced that it has extended the deadline for tax compliance obligations that expire on 31 July of this year to 18 August 2024, due to various computer system constraints. This includes obligations on
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Australia initiates consultation on draft law extending SME amended returns period to 4 years
The Australian Treasury has announced a public consultation on a draft legislation entitled “Treasury Laws Amendment Bill: Self-amendments by small and medium businesses” on 26 July, 2024. The consultation is set to conclude on 9 August,
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