Jersey: Budget for 2017 has been presented
The Treasury and Resources Minister has presented the draft budget 2017 on 18th October 2016. The main tax proposals are given below: Corporate Taxation From previous record, unilateral tax relief has been granted by the Comptroller under a
See MoreEgypt: Parliament approves draft law on tax disputes resolution
The parliament approved a draft law on tax disputes resolution on 30 August 2016. The purpose of the law is to streamline the settlement of pending tax cases. The law covers ongoing tax disputes related to all types of taxes, including individual
See MoreBulgaria: Draft bill on mandatory electronic filing of tax returns
The Finance Ministry has published a draft modifications to the corporate and personal income tax reporting rules, mandatory electronic filing of corporate and personal income tax returns and simplified rules for filing corrective tax returns on
See MoreUK: Consultation on making tax digital for unincorporated businesses
On 15 August 2016 HMRC issued a consultation document on Making Tax Digital: Bringing business into the digital age. The UK government announced at Budget 2016 that businesses, the self employed and landlords will be required by 2020 to update a
See MoreUK: Stamp duty land tax changes
On 10 August 2016 the UK launched a consultation on changes to the Stamp Duty Land Tax (SDLT) filing and payment process. The government is inviting comments from interested parties by 7 October 2016. SDLT is charged on the freehold or leasehold
See MoreGreece: Filing of amending tax return after expiry of statute of limitation period
The Public Revenue Authority (PRA) has released Circular POL 1114 on 22nd July 2016 to provide clarification regarding the filing of an amending tax return following the expiry of the statute of limitation period. The Circular says that Opinion No.
See MoreEl Salvador: Financial statements need to be submitted electronically by large taxpayers
The tax authorities issued Circular DG-001/2016 on 13 June 2016, launching that large taxpayers must file their 2015 financial statements together with the notes and tax report electronically using digital Form F-457 through the Ministry of
See MoreSpain: Compulsory e-filing for large companies
Recently the Spanish government has issued an order addressing several tax filing obligations. Large Companies will have to file tax documents such as returns, declarations or reimbursement requests electronically as from 1 July 2016. The order was
See MoreBulgaria: Guidelines on submission of financial information published
The National Revenue Agency has published guidelines and instructions on the submission of financial information on 26th May 2016 under the Bulgaria - United States FATCA Model 1B Agreement (2014). The document covers document submission procedures
See MoreOECD: Guidance on tax control frameworks
The OECD issued a publication entitled “Cooperative Tax Compliance: Building Better Tax Control Frameworks” during the meeting of the Forum on Tax Administration (FTA) on 9 to 11 May 2016. Enterprises must assess the accuracy and completeness
See MoreArgentina-Deadlines for filing tax returns for 2015 and for tax payments extended
In Argentina through General Resolution 3874 (AFIP),the deadlines for filing the 2015 Income Tax, Minimum Deemed Income Tax and Net Worth Tax returns by companies and certain individuals, as well as the payment of the resulting balance that was
See MoreGreece: Circular of Corporate income tax return for 2015 released
The Public Revenue Authority released Circular POL 1049/2016 providing clarifications and examples as regards completion and filing of 2015 tax returns by legal entities subject to income tax on 20 April 2016. The Circular is accessible on the
See MorePanama-Deadline for filing income and real estate tax returns extended
In a Press release of 29 April 2016 the tax authorities of Panama announced that the deadline to file income tax returns and real estate tax returns will further be extended to 3 May
See MoreColombia: New rules on penalties for failure to submit E-returns
According to published Ruling 4024 of 2016, the Colombian National Tax Authority declared the applicable rules for taxpayers having failed to submit tax returns electronically but being willing to correct the error voluntarily. In accordance with
See MoreMalta: Extended the deadline for electronic filing of 2016 corporate income tax returns
On 13 April 2016, the Inland Revenue Department of Malta notified that the deadlines for electronic filing of corporate income tax returns for assessment year 2016 are extended as follows: Tax Return Filing Date Electronic Filing Extended
See MoreIsle of Man extends deadline for online filing of income tax returns
The Treasury department of the Isle of Man issued a press release on April 07, 2016 announcing that the deadline for the online filing of corporate and individual income tax returns has been extended to 11 April 2016. Primarily, the returns had to
See MorePeru- guidelines published on corporate and personal income tax returns for tax year 2015
The Peruvian tax administration published on its website the guidelines (cartilla de instrucciones) for filing the corporate and individual income tax returns for tax year 2015. The guidelines are available as from March 2016. The guidelines clarify
See MoreFinland: Parliament amendments the law in respect of tax collection and tax procedures
The Government of Finland proposed an amendment of law regarding tax collection and tax procedures. The law was presented in Finish Parliament on March 17, 2016. Reduce administrative burden and simply tax procedures are the main objective of the
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