Luxembourg: Parliament adopts Law on tax return deadline extension for 2019 and 2020
On 9 February 2021, the Luxembourg Parliament has adopted a draft law which was announced in December 2021 regarding the tax return filing deadline extension for 2019 and 2020 due to the COVID-19 pandemic. The deadlines are set for individual
See MoreDominican Republic: DGII publishes thresholds for TP reporting and some tax issues
On 4 February 2021, the Directorate General of Internal Revenue (DGII) published Resolution No. DDG- AR1-2021-00002, which provides various tax issues, including new transfer pricing thresholds and updates to its tax haven list. Transfer pricing
See MoreUganda: URA issues guidance on tax compliance
On 22 January 2021, the Uganda Revenue Authority (URA) has issued guidance on tax compliance on its website. The guidance includes following measures: Registration Process A person liable to pay tax shall apply to the Commissioner for
See MoreAlgeria: President signs Finance Act 2021
On 31 December 2020, the President signed the Finance Act for the year 2021, which includes the following measures: The Act imposes a 15% capital gains tax on the real estate and securities transactions and describes calculations and liability
See MorePeru sets deadlines for individual and CIT returns for 2020
On 30 December 2020, the Peruvian tax authorities (SUNAT) has issued Resolution No. 000229 -2020/SUNAT in the official gazette regarding the deadlines for individual and corporate tax (CIT) returns for 2020. The Resolution includes an
See MorePortugal publishes new CIT return form
Portugal has approved Order no. 314/2021 to update the corporate income tax (CIT) return forms (Modelo 22) considering legislative changes made in 2020 and the need to introduced improvements in the
See MoreNigeria: President signs the Finance Bill 2020 into Law
On 31 December 2020, the President, Muhammad Buhari, signed the Finance Bill 2020 and made it into law, which introduces significant changes to a number of tax and regulatory laws in Nigeria including the introduction of COVID-19 incentives
See MoreArgentina: AFIP further extends the deadline for beneficial ownership declaration
On 31 December 2020, the Federal Administration of Public Revenue (AFIP) Officially published General Resolution 4897/2020 of 29 December 2020, which extends the initial reporting deadline of beneficial ownership declaration for 2019 and, with
See MoreGreece: MoF extends the deadline for beneficial ownership declaration
On 30 December 2020, a decision of the Deputy Minister of Finance, Mr. George Zavvos, was signed, which extends the deadline for the registration of beneficial ownership (UBO) information in the UBO registry from 31 December 2020 until 1 February
See MoreGermany: 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
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