Canada: Prime Minister announces a Plan to provide support for businesses during COVID-19 pandemic
On 13 March 2020, the Finance Minister, Bill Morneau, announced COVID-19 Economic Response Plan to help stabilize the economy and help Canadians affected by the impacts of the COVID-19 pandemic period. To support Canadian businesses during this
See MoreChina extends tax filing deadline for March 2020
On 3 March 2020, the State Taxation Administration (SAT) of China issued Notice No. 37, that extended the tax filing deadline for March 2020, to 23 March 2020 from 16 March 2020, nationwide. The regions where are still in the top-level response to
See MoreMalaysia gazettes Labuan Business Activity Tax (Amendment) Act 2020
On 10 February 2020, Malaysia has gazetted the Labuan Business Activity Tax (Amendment) Act 2020 (“the Amendment Act”) which comes into operation on 11 February 2020. The following tax measures are included in the act. A company in Labuan
See MoreRussia amends WHT return filing deadline
On 5 February 2020, Russian Federal Tax Service published a notice amending the deadline for filing of 2019 withholding tax (WHT) returns by tax agents. The notice have been in force since 1 January 2020, the WHT returns are required to file
See MoreChina extends declaration deadline
The State Administration of Taxation (SAT) of China has extended tax filing deadline to 28 February 2020 due to Coronavirus epidemic. Previously, the deadline had been delayed from February 17, 2020 to February 24, 2020. For the taxpayers and
See MoreItaly issues updated tax return forms with instructions for 2020
On 31 January 2020, the Italian Revenue Agency released instructions on procedure to comply with income tax return filing obligations during 2020. The Italian tax authority said the following changes have been incorporated into returns this year:
See MoreBosnia and Herzegovina: Government adopts Law on Profit Tax
On 16 January 2020, Government adopted the amendment in Law on Profit Tax. The Law proposed to exclude leasing companies from the interest deduction limitations provisions. On the other hand, this Law stated that income statements are not necessary
See MoreColombia publishes a decree on tax return and TP documentation deadline
On 23 December 2019, Colombian tax authority (DIAN) has published Decree No. 2345 specifying the deadlines for filing and payment of the tax return (declaration) for 2020 and the deadline for transfer pricing (TP) documentation, including
See MoreItaly publishes new WHT return form
On 15 January 2020, the Italian tax administration approved the updated withholding tax (WHT) return form 770/2020 for fiscal year 2019. The withholding tax return form must be filed electronically by 31 October
See MoreIsrael issues RTP of tax returns for FY 2019
On 30 December 2019, the tax administration of Israel issued an updated list of reportable tax positions (RTP) for financial year (FY) 2016 to FY 2018. All RTPs will apply to Israeli taxpayers with respect to their income tax returns submitted for
See MoreQatar publishes new regulations to amend income tax law
On 11 December 2019, Qatar published Executive regulations 39/2019 in the Official Gazette, introduced new Income Tax Law No. 24 of 2018. The new regulations are generally effective from 12 December 2019. Key features of the new regulations
See MoreCyprus: Tax department publishes income tax return form for 2018
On 3 October 2019, the Cyprus tax department has published corporate income tax return form (TD4) for 2018. The basic difference between 2018 and 2017 return form is the part 3. Under this taxpayer is requested to confirm whether a Transfer Pricing
See MoreRussia publishes amendments related to corporation tax
On 29 September 2019, the Russian Government signed a Law no. 325-FZ (Amendments to the Tax Code of the Russian Federation) and published in the Official Gazette. The main amendments relating to corporate income tax are as follows: Limitation
See MoreNigeria: FIRS introduces e-filing for submitting TP returns
On 27 September 2019, Federal Inland Revenue Service (FIRS) described the way of how to submit transfer pricing (TP) returns through the electronic platform, when it is active. Now, the FIRS is get ready to automate the process of filing TP
See MoreColombia: Reminder on tax amnesty deadline
It’s a reminder for the Colombian taxpayers wishing to take part in ongoing tax amnesties. The Colombian 2019 tax reform establishes a tax amnesty to “normalize” (i) unreported assets; or (ii) nonexistent liabilities that were included on a
See MoreCosta Rica publishes resolutions on returns related to capital income, capital gains and others
On 30 July 2019, Costa Rican tax administration released a resolutions amending withholding tax forms and procedures on interest, dividends, and foreign income for the tax period July 2019 forward. The resolution provides several measures
See MoreIndia: CBDT issues FAQs on filling of ITR forms for AY 2019-20
On 8 August 2019, the Central Board of Direct Taxes (CBDT) has issued Circular No. 18, which includes frequently asked questions (FAQs) on the completion of income tax return (ITR) forms for Assessment Year (AY) 2019-20. The FAQs are aimed
See MoreDenmark: Tax Agency allows for the opportunity to re-open certain transfer pricing cases
On 12 July 2019 the Danish Tax Agency issued a new decree (SKM2019.374.SKTtST) regarding transfer pricing documentation in response to the Supreme Court’s decision in the Microsoft case. The decree allows some taxpayers to reopen Denmark transfer
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