US: IRS announces tax relief for Alaska taxpayers impacted by storms

March 27, 2024

On 25 March 2024, the US Internal Revenue Service (IRS) announced tax relief for individuals and businesses in the Wrangell Cooperative Association of Alaska Tribal Nation that were affected by severe storms, landslides, and mudslides that began on

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UAE: FTA offers corporate tax registration at government service centers 

March 26, 2024

On 20 March 2024, the UAE Federal Tax Authority, in a release, announced it made the service available to submit Corporate Tax registration requests through 23 Government Service Centres located across the UAE. The FTA explained in the press

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Hong Kong releases circular on block extension scheme for 2023/24 tax returns

March 25, 2024

The Hong Kong Inland Revenue Department (IRD) has released a Circular Letter to Tax Representatives regarding the Block Extension Scheme for the Lodgement of 2023/24 Tax Returns. According to the letter, the Block Extension Scheme will be accessible

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Saudi Arabia: ZATCA encourages taxpayers to benefit from penalty exemption initiative

March 25, 2024

On 12 March 2024, the Saudi Zakat, Tax, and Customs Authority (ZATCA) in a release urged all taxpayers to leverage from the "Cancellation of Fines and E-invoicing of Penalties Initiative." This initiative will end on 30 June 2024. ZATCA has

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Guatemala announces new monthly corporate tax return forms

March 20, 2024

On February 2024, Guatemala’s Superintendency of Tax Administration (SAT) declared that it introduced new informational fields regarding passive income to be included in the monthly income tax return (electronic form 1311) starting from January

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US: IRS issues guidelines to prevent mistakes in federal tax returns

March 20, 2024

On 18 March 2024, the U.S. IRS released guidelines for preventing errors during the filing of federal tax returns. As the April 15 filing deadline approaches, the Internal Revenue Service issued a reminder to taxpayers on ways to prevent typical

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Italy announces new corporate tax return deadline

March 14, 2024

Italy has announced new guidelines and procedures for corporate tax return filings for 2024 regarding the tax year 2023. The main change relates to the revised deadline for filing returns as per the corporate tax (IRES) returns. The new

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Nigeria: FIRS launches self-registration feature on its e-platform

March 13, 2024

On 11 March 2024, the Federal Inland Revenue Service (FIRS) of Nigeria released a public notice on X (formerly Twitter) about the launch of a self-registration feature on TaxPro-Max, its tax administration solution electronic platform. With the

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Malta: Deadline extended for e-filing of corporate tax returns in 2024

March 07, 2024

On 28 February 2024, Malta’s Commissioner for Tax and Customs announced that it extended the deadlines for the electronic filing of income tax returns for companies in 2024. The updated deadlines for manual and electronic filing return deadlines

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Malaysia grants temporary capital gain tax exemption on foreign capital asset disposals 

March 06, 2024

On 4 March 2024, Malaysia issued the Income Tax (Exemption) (No. 3) Order 2024, which was published in the Official Gazette. This order grants a capital gains tax exemption to companies, limited liability partnerships, trust bodies, and cooperative

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Kenya: KRA notifies taxpayers of tax amnesty program

March 02, 2024

On 27 February 2024, the Kenya Revenue Authority (KRA) published a release notifying taxpayers of its tax amnesty program offering over Kshs 200 billion in waiver of penalties and interest. Additionally, the KRA released new Tax Amnesty FAQs. The

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Venezuela: Decree to extend exemptions from financial transaction taxes

March 01, 2024

On 21 February 2024, Venezuela issued Decree No. 4.924 in the Official Gazette, announcing the further extension of exemptions from financial transactions initially implemented in 2022. This Decree clarifies exemptions for the transactions as

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Cyprus extends deadline for 2022 tax return and transaction summary table

March 01, 2024

On 23 February 2024, the Cyprus Tax Department announced the extension of the deadline for submitting the annual income tax return and summary information table (SIT) for the 2022 tax year. According to the announcement, the deadline has been

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UAE: FTA specifies corporate tax registration deadlines

March 01, 2024

On 27 February 2024, the UAE Federal Tax Authority (FTA) announced that it issued the FTA Decision No. 3 of 2024, in which it outlined the timeframes for Taxable Persons subject to Corporate Tax to apply to register with the FTA and avoid being in

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UAE to impose AED 10,000 penalty for delaying corporate tax registration

February 29, 2024

On 27 February 2024, the UAE Ministry of Finance announced the issuance of Cabinet Decision No. 10 of 2024, amending the schedule of violations and administrative penalties of Cabinet Decision No. 75 of 2023 on the administrative penalties for

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US: IRS announces tax relief for California taxpayers impacted by storms and floods

February 28, 2024

On 27 February 2024, the US Internal Revenue Service (IRS) announced that it is providing tax relief for individuals and businesses in parts of California affected by severe storms and flooding that began on 21 January 2024. According to the IRS

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Cyprus extends deadline for 2022 transfer pricing documentation submission 

February 25, 2024

On 23 February 2024, the Cyprus Tax Department (CTD) issued a letter that clarified the extension of the deadline for submission of the income tax returns of companies obligated to submit the Table of Summarised Information (TSI) for 2022. The

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El Salvador notifies delinquent tax payment interest rates for 2024

February 18, 2024

El Salvador’s Ministry of Finance released a notice detailing the applicable interest rates for delinquent tax payments from 1 February 2024 to 31 July 2024. The notice specified the annual interest rate of 7.53%, which has been raised to 11.53%

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