Germany: Ministry of Finance extends tax payment relief measures for COVID-19
Germany’s Ministry of Finance (MOF) released decrees on 21 and 22 December 2020 that extend various tax measures in response to the coronavirus (COVID-19), including administrative measures relating to corporate income tax payments and extension
See MoreFrance: Government publishes Finance Law for 2021
On 30 December 2020, the Government Officially published Finance Law for the year 2021. On 17 December 2020, the French Parliament approved the Finance Bill for 2021. The Act includes: Corporate Income Tax In the context of the Covid-19
See MoreGermany: Ministry of Finance announces extensive expansion of the Corona aid
The German Ministry of Finance has declared the extensive expansion of the Corona aid. In order to support companies, self-employed and freelancers who are affected by closings and massive drops in sales in the corona pandemic, the Federal Ministry
See MoreUK: Statistics on Venture Capital Trusts
On 17 December 2020 the UK released statistics on Venture Capital Trust (VCT) tax relief for the year 2019/2020. The statistics on VCT tax relief are released annually and are important for monitoring and assessment of the effectiveness of the tax
See MoreMongolia: Parliament approves State Budget Law for 2021
The State Budget Bill for the fiscal year of 2021 was adopted at the State Great Khural’s plenary session of 13 November 2020 along with its appropriation bills. On 25 November 2020, the President of Mongolia, Battulga, refused 2021 State Budget
See MoreSweden: Parliament approved Budget for 2021
On 17 December 2020, the Swedish Parliament (Riksdag) has approved Budget for fiscal year 2021. The Budget includes the following key tax measures: Temporary tax reduction of 3.9% of the acquisition value of machinery and equipment
See MoreArgentina: AFIP again extends the deadline for beneficial ownership declaration
On 12 December 2020, the Federal Administration of Public Revenue (AFIP) Officially published General Resolution 4878/2020 of 12 December 2020, which provides new definitions and rules for beneficial ownership disclosures. According to the new
See MoreOECD: Enhancing International Tax Debt Management
On 8 December 2020 the OECD’s Forum on Tax Administration (FTA) issued a report entitled Enhancing International Tax Debt Management, looking at challenges around international tax debt collection. Problems faced in international tax debt
See MoreOECD: Digital Transformation of Tax Administration
On 8 December 2020 the OECD’s Forum on Tax Administration (FTA) released a paper entitled Tax Administration 3.0: The Digital Transformation of Tax Administration outlining a concept for digital development of tax administrations that leads over
See MoreUK: Research on Enablers and Facilitators of Tax Evasion
On 2 December 2020 HMRC published a research report by IFF Research aiming to reach an improved understanding of the situation of wealth managers, UK goods importers and freight forwarders who may be in a position where they are at risk of
See MoreOECD: Tax Crime Investigation Maturity Model
On 30 November 2020 the OECD published a publication outlining the Tax Crime Investigation Maturity Model. The maturity model has been developed to help jurisdictions to assess their capability in relation to the investigation of tax crimes and to
See MoreBulgaria: Parliament passed the Budget Act 2021
On 26 November 2020, the Parliament passed conclusively the 2021 Budget Act, which will enter into force on 1 January 2021. In the transitional and final provisions, Parliament today voted on child benefits and on tax breaks for childcare. The
See MoreOECD and IMF: Report on Analysis of Tax Expenditures in Chile
A report was issued on 23 November 2020 following a mission conducted by staff from the IMF and the OECD from April to October 2020. The main purpose was to provide technical support in relation to the methodology for reviewing Chile's tax
See MoreOECD: Tax relief for philanthropic entities
A report published by the OECD entitled Taxation and Philanthropy contains a detailed review of the taxation of philanthropic entities and donors in 40 countries, setting out potential policy options for countries. Reasons for giving tax
See MoreCroatia: Government presents four tax reform Bills to Parliament
On 12 November 2020, the Croatian Parliament announced that the Government sent four tax reform Bills, which provide changes in corporate income tax, personal income tax, and value added tax (VAT). Some of the changes including the Bills are given
See MoreBulgaria: Cabinet approves draft Budget Bill 2021
On 28 October 2020, the Bulgarian Cabinet approved the 2021 Budget bill drafted by the Finance Ministry at a Cabinet meeting. The President made clear that this is not an electoral Budget. This is a Budget for after the elections, so that there are
See MoreAustralia: Federal Court rules on tax position of UK citizen in Australia with a Working Holiday Visa
In a judgment of 6 August 2020 the Australian Federal Court ruled in favour of the Commissioner of Taxation in a case involving the residency test for a UK citizen staying in Australia on a Working Holiday Visa (WHV). The Court found that the UK
See MoreArgentina: AFIP extends the deadline for beneficial ownership declaration
On 22 October 2020, the Tax Administration (AFIP) published General Resolution 4839/2020 of 22 October 2020 providing further relief from the beneficial ownership declaration for 2019 and disclosures on financial and non-financial trusts introduced
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