COVID-19: Lithuania extends tax-related compliance until 30 March 2020
The Lithuanian government and tax authorities announced certain tax-related relief measures in response to the coronavirus (COVID-19) pandemic. Regarding corporate income tax, the deadline for filing advance corporate income tax returns and
See MoreFrance: President announces to postpone the deadline for payment of taxes
On 12 March 2020, the President, Emmanuel Macron, announced that the deadline for the payment of taxes and social security contributions will be postponed from during March 2020 for all companies due to coronavirus outbreak. Also, the President
See MoreCanada: 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 MoreUK: Budget Announcements for 2020
The UK Budget for 2020/21 was announced on 11 March 2020. Coronavirus - Emergency relief measures As a temporary measure to help business during the COVID-19 outbreak the statutory sick pay (SSP) will be extended to those advised to
See MoreIMF Blog Outlines Fiscal Policy Responses to the Health Crisis
An IMF blog published on 5 March 2020 is concerned with fiscal policy responses to the outbreak of coronavirus. The blog emphasises that the priority for governments is health spending for prevention and cure, and to ensure that health services
See MoreUK: Tax Tribunal Rules in Favour of HMRC on IR35 Rules
A tax tribunal ruling issued on 4 March 2020 concerned the IR35 rules as they apply to an individual operating through a service company providing services to a client. Under the IR35 intermediaries legislation the decision as to whether the
See MoreIMF comments on Austria’s tax system
On 3 March 2020 the IMF issued a report following consultations with Austria under Article IV of the IMF’s articles of agreement. The report notes that Austria’s economy has been performing well recently but the growth rate decreased in
See MoreUK: Report on the management of tax expenditures
A report released by the National Audit Office issued on 14 February 2020 looked at the management of tax expenditures. There were 1,190 tax reliefs available in the UK tax system in October 2019, either structural reliefs such as the personal tax
See MoreUK: Changes to IR35 Rules
On 27 February 2020 HM Treasury confirmed that the planned changes to the IR35 rules will be implemented from 6 April 2020. The IR35 off-payroll labour rules were introduced in response to perceived tax avoidance by individuals providing services
See MoreNigeria: FIRS issues a public notice regarding tax payment deadlines
On 21 February 2020, the Federal Inland Revenue Service (FIRS) issued a public notice, which states the deadlines for tax payment under the Finance Act 2019. According to the notice, the FIRS notified the general public, companies, and taxpayers
See MoreOECD: Consultation on reporting provisions for platform operators
On 19 February 2020, the OECD released a public consultation document on the draft model rules for reporting by platform operators with respect to sellers in the sharing and gig economy . The OECD notes that the market of online platforms that
See MoreUK: 2020 budget date confirmed
The date of the UK budget has been confirmed as 11 March 2020. As this is the first budget of the new government the announcements could contain a number of important measures. Pension tax deductions The UK government is reported to be
See MoreUkraine: National Bank reduces the interest rate from January 2020
On 30 January 2020, the National Bank of Ukraine decided to reduce its key policy rate from 13.5% to 11% per annum with effect from 31 January 2020. The interest rate has a tax effect on the late tax payment interest and
See MoreCroatia: Government publishes tax reform effective as from 1 January 2020
On December 11, 2019, the Croatian Government published Law in the Official Gazette to require taxpayers/ intermediaries to report information on certain tax arrangements. Some of the changes are given below: Corporate income tax/Profit
See MoreAustria: Government publishes Program for 2020-2024 regarding tax measures
The Government released its Program for 2020-2024 regarding several tax reform measures. Corporate tax The Program proposed to increase the threshold of corporate income tax from EUR 30,000 to EUR 100,000 and reduce the corporate income tax
See MoreGreece: Government publishes Law 4646/2019 in the Government Gazette
On 12 December 2019, the President announced that Law 4646/2019 was published in Government Gazette. Corporate tax According to Law, as from 1 January 2020, corporate tax rate will be reduced from 28% to 24% for all legal entities for the
See MoreUkraine: National Bank reduces the interest rate from December 2019
On 12 December 2019, the National Bank of Ukraine decided to reduce its key policy rate from 15.5% to 13.5% per annum with effect from 13 December 2019. The interest rate has a tax effect on the late tax payment interest and
See MoreOECD: Fiscal challenges of ageing populations for central and local government
On 4 December 2019 the OECD released a Working Paper entitled Population ageing and sub-central governments: long-term fiscal challenges and tax policy reform options. This looks at the taxation policy options for central and local governments in
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