Bangladesh: PSR mandatory for hotels, restaurants, clinics
The Bangladesh government is reportedly expanding its tax net; targeting hotels, restaurants, clinics, and diagnostic centres in an effort to boost revenue collection. The new measures, which take effect next fiscal year, will require these
See More
US: IRS extends tax relief for Arkansas taxpayers impacted by severe weather
The US Internal Revenue Service (IRS), in a release – AR-2024-01 – published on 6 June 2024, announced tax relief for individuals and businesses in parts of Arkansas that were affected by severe storms, straight-line winds, tornadoes, and
See More
US: IRS extends tax relief for West Virginia taxpayers impacted by severe weather
The US Internal Revenue Service (IRS), in a release – IR-2024-160 – published on 7 June 2024, announced tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, tornadoes, landslides and
See More
Dominican Republic expands e-invoicing mandate to medium taxpayers
The Dominican Republic's Directorate General of Internal Revenue (DGII) issued Notice 11-2024, on 7 June 2024, which revealed an expanded list of taxpayers who are required to adhere to the country's new mandatory electronic invoicing (e-invoicing)
See MoreUS: IRS extends tax relief for Iowa taxpayers impacted by storms and floods
The US Internal Revenue Service (IRS), in a release – IA-2024-04 – published on 6 June, 2024, announced tax relief for individuals and businesses in Iowa affected by severe storms, tornadoes, and flooding that occurred on 20 May, 2024. The
See MoreUS: IRS extends tax relief for Kentucky taxpayers impacted by severe weather
The US Internal Revenue Service (IRS), in a release – IR-2024-159 – published on 7 June 2024, announced tax relief for individuals and businesses in parts of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides and
See More
Greece introduces new tax procedures with Law 5104/2024
The Greek government has enacted Law 5104/2024 which introduces new codes of tax procedures. The law is effective from 19 April, 2024, but some provisions will be enacted later in the year. The revisions include digital notifications for
See MoreUS: IRS revises automatic accounting methods
The US Internal Revenue Service (IRS) announced revising its automatic accounting method procedures in April 2024. As per the new method, taxpayers must obtain formal IRS consent through a letter ruling to alter any aspect of their tax
See More
Australia: ATO summarises 2024 non-individual tax return changes
The Australian Taxation Office (ATO) released a summary on 30 May, 2024, detailing the updates to non-individual tax return forms and schedules for the 2023–24 income tax period. The Company Tax Return 2024 includes changes related to
See MoreUS: IRS extends tax relief for Massachusetts taxpayers impacted by storms and floods
On Friday, 31 May, 2024, the US Internal Revenue Service (IRS), in a release—IR-2024-154, announced tax relief for individuals and businesses in parts of Massachusetts affected by severe storms and flooding that began on 11 September,
See MoreUS: IRS extends tax relief for Texas residents impacted by adverse weather
The US Internal Revenue Service (IRS), on Tuesday, 28 May, 2024, in a release (TX-2024-13) announced tax relief for individuals and businesses in Texas affected by severe storms, straight-line winds, tornadoes, and flooding that began on 26 April,
See More
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
See More
UAE: FTA calls for juridical persons to register for corporate tax by May
The UAE Federal Tax Authority (FTA), in a release published on Tuesday, 23 May, 2024, called for juridical persons licensed in January and February to submit their corporate tax registration applications by 31 May, 2024. The registration deadline
See More
Cyprus announces submission of 2022 controlled transactions summary
The Cyprus Tax Department released an announcement regarding the submission of the summary information table (SIT) for controlled transactions for the 2022 tax year on Monday, 20 May, 2024. According to the announcement, the SIT must be submitted
See More
US: House of Representatives approve disaster tax relief bill
The House of Representatives of the US Congress passed H.R. 5863 —The Federal Disaster Tax Relief Act of 2023 on Tuesday, 21 May, 2024. This USD 5 billion legislation aims to extend specific rules for the deductibility of specific personal
See More
UK: HMRC announces notice on registration and basic guidance for pillar 2 top-up taxes
The UK HMRC released a notice regarding the registration process and basic guidance for Pillar 2 top-up taxes in the UK on Monday, 20 May, 2024. Pillar 2 top-up taxes registration (notice 1) The notice explains how to register for Pillar 2
See More
Australia: ATO issues notice on minimum yearly repayments for division 7A loans
The Australian Taxation Office (ATO) published a notice regarding the minimum yearly repayments on a Division 7A loan on Monday, 20 May, 2024. Borrowing money from a private company might appear straightforward, but it's crucial to consider the
See MoreAustralia: ATO issues income tax filing requirements for FY 2023/24
The Australian Taxation Office (ATO) has issued the Taxation Laws (Requirement to Lodge a Return for the 2024 Year) Instrument 2024. This instrument outlines who must file an income tax return for the year ending 30 June, 2024. Additionally,
See More