India releases income tax return forms for assessment year 2024-25
India's Central Board of Direct Taxes (CBDT) has introduced new income tax return (ITR) forms, ITR-1 to ITR-6, for diverse taxpayers in the fiscal year 2023-24 (1 April 2023 to 31 March 2024), aligned with the assessment year 2024-25. Notifications
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Malaysia: IRBM releases Software Development Kit (SDK) for e-Invoicing
On 9 February 2024, the Inland Revenue Board of Malaysia (IRBM) published the Software Development Kit (SDK) for e-Invoicing. The e-Invoice Software Development Kit (SDK) is a collection of tools, libraries, and resources providing a set of
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Puerto Rico unveils new tax return for exempt businesses
Puerto Rico's Treasury Department released a new income tax return for businesses that earn income under various tax exemption incentive decrees. Previously, different tax return forms were needed depending on specific tax exemptions, which included
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Colombia amends tax Form 490 to include SEP corporate income tax payments
On January 25, 2024, Colombia's tax authority released Resolution No. 4, which amends the tax Form 490 to include bimonthly advance payments for significant economic presence (SEP) corporate income tax. The initial payment is scheduled for March
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US: IRS announces tax relief for taxpayers in Maine
On 5 February 2024, the US Internal Revenue Service (IRS) declared tax relief for taxpayers in Maine affected by severe storms and flooding that began on 17 December 2023. As per the new announcement, these taxpayers now have until 17 June 2024 to
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Spain: Tax agency amends self-assessment return forms
On 31 January 2024, the Spanish Tax Agency published the Order HAC/56/2024 in the Official Gazette, which brings modifications to the self-assessment forms (modelos) listed below: Form 123. Withholdings and payments on account of the Personal
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Belgium parliament passes compulsory electronic invoicing
On 1 February 2024, the Belgian Chamber of Representatives passed the law that brings amendments to the Value Added Tax Law submitted on 28 December 2023, making electronic invoicing mandatory. The mandatory electronic invoicing requirements will go
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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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US: IRS announces the start of filing season
On 29 January 2024, the US Internal Revenue Service (IRS) in a notice announced that the filing season has started. The RS also reminded employers of the 31 January deadline to file Forms W-2 and other wage statements with the Social Security
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US issues tax relief for American families and workers act of 2024
On 25 January 2024, the U.S. Congressional Budget Office (CBO) released its cost estimate report concerning the Tax Relief for American Families and Workers Act of 2024 (Bill H.R. 7024). The main measures of the bill are as follows: The bill
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Malaysia publishes capital gains tax return form filing programmeÂ
On 15 January 2024, The Inland Revenue Board of Malaysia (IRBM) announced that it had published the Capital Gains Tax Return Form (CGTRF) Filing Programme. Malaysia's Finance (No. 2) Act of 2023 has introduced new regulations regarding the
See MoreColombia issues tax return filing deadlines for year 2024 and beyond
On 22 December 2023, Colombia's Ministry of Finance published Decree No. 2229 of 22 December 2023, outlining the deadlines for filing tax returns and payments for the year 2024 and subsequent years. The main deadlines for tax returns and payments
See MoreUS: IRS announces official date for 2024 tax filing seasonÂ
On 8 January 2024, the US Internal Revenue Service (IRS) declared the official start date of the 2024 tax season set at 29 January 2024. The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax
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Belgium: Parliament to introduce mandatory electronic invoicing
On 28 December 2023, the Belgian parliament deliberated a draft law for amending the Value Added Tax Law to introduce mandatory electronic invoicing. The parliament proposed that the mandatory electronic invoicing requirements would be enacted from
See MoreUS passes tax relief act for American families and workersÂ
On 31 January 2024, the US House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (Bill H.R. 7024). The main tax provisions for companies are: The deduction for domestic research and experimental
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Chile releases 8th catalog of tax schemes
On 27 December 2023, Chile’s tax authority declared it published the eighth version of the Catalog of Tax Schemes. The publication of this Catalog responds to the challenge of ensuring that each taxpayer understands compliance with their tax
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Italy releases draft tax returns and rules for 2024
On 22 December 2023, the Italian Revenue Agency published the draft tax return forms and instructions for filing in 2024. The tax return forms include the personal income tax return, the corporate tax return, the partnership tax return, the regional
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Spain releases new return and application forms for expatriate regime
On 15 December 2023, the Spanish Tax Agency published the Order HFP/1338/2023 in the Official Gazette. The Order authorizes the use of Form (Modelo) 151. Form (Modelo) 151 is the tax return form for taxpayers in accordance with the special inbound
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