US: IRS announces tax relief for Alaska taxpayers impacted by storms
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
See MoreSpain releases 2023 personal income and wealth tax returns forms
On 22 March 2024, the Spanish Tax Agency published Order HAC/265/2024 in the Official Gazette. This announcement introduces the personal income tax and wealth tax return forms (modelos) for the fiscal year 2023. These are as follows: Form
See MoreUS: IRS reminds expats of tax return deadline and offers extension for Israel attack victims
On 22 March 2024, the US Internal Revenue Service (IRS) issued a release in which it reminded taxpayers residing and working outside the US that they must file their 2023 federal income tax return by 17 June 2024. This deadline applies to U.S.
See MoreUN: Tax Committee Discusses Tax Issues in the Digitalised Economy
The 28th session of the UN Committee of Experts on International Cooperation in Tax Matters is being held from 19 to 22 March 2024. On 19 and 20 March 2024 the discussions included tax issues in the digital economy. Fast Track Instrument The
See MoreUS: IRS announces tax relief for California taxpayers impacted by storms and floods
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
See MoreUK: Taxpayer Perceptions of Third Party Educational Messaging
On 25 January 2024 HMRC published the results of research that was commissioned by them in relation to customer perceptions of third party educational messaging. HMRC is considering the value of educational messaging via third party intermediary
See MoreUK: Research on Taxpayer Perceptions of Personalised Digital Prompts
On 25 January 2024 HMRC published research they commissioned into taxpayer perceptions of personalised digital prompts. HMRC is introducing new technology to increase the efficiency of the tax system. This includes a digital prompts programme to
See MorePeru extends deadline for individual and micro and small enterprises tax return
On 22 November 2023, Peru published Law No. 31940 in the Official Gazette extending the deadlines for annual income tax returns and payments for individuals and small enterprises until June of the following tax year. The standard deadlines,
See MoreUK Autumn statement details
The UK’s autumn statement was delivered on 22 November 2023. The significant tax changes are summarised below. National insurance contributions The main rate of Class 1 employee national insurance contributions (NICs) is to be reduced from
See MoreOECD: Peer Review Report on Tax Transparency and EOI in Poland
On 8 November 2023 the Global Forum on Transparency and Exchange of Information for Tax Purposes published the second-round peer review report on Poland’s implementation of the standard on transparency and exchange of information (EOI). Poland’s
See MoreOECD: Enhancing International Tax Transparency on Real Estate
On 17 July 2023 the OECD published a report with the title Enhancing International Tax Transparency on Real Estate for the meeting of G20 finance ministers and central bank governors. Tax authorities do not possess sufficient information on
See MoreOECD: Unleashing the Power of Automatic Exchange of Information
A report on developments by developing countries with the automatic exchange of information (AEOI) was prepared by the OECD’s Global Forum for the meeting of G20 finance ministers and central bank governors on 17 and 18 July 2023. The report with
See MoreOECD: Tax Transparency In Latin America 2023
On 27 June 2023 the OECD published Tax Transparency in Latin America 2023, during the latest meeting of the Punta del Este initiative. The Punta del Este Declaration aimed to tackle tax evasion and avoidance and other financial crimes by promoting
See MoreUK: Tax Gap for 2021/22
On 22 June 2023 HMRC published details of the UK’s tax gap for 2021/22. The tax gap is a measure of the difference between the amount of tax that should have been collected by HMRC, and the amount that was actually paid. The tax that should be
See MoreUK: HMRC Explains Delays on MTD for Income Tax
On 20 June 2023 the head of HMRC noted in a hearing before the Public Accounts Committee (PAC) in parliament that the complexity of Making Tax Digital (MTD) had been underestimated. As a result, there had been continual delays to MTD for income
See MoreSingapore publishes guidance on corporate income tax filing for 2023
The Inland Revenue Authority of Singapore (IRAS) has released comprehensive guidance for the corporate income tax filing season 2023. The guidance provides detailed instructions on various aspects of tax filing, ensuring taxpayers understand the
See MoreUK: More Severe Penalties for Promoters of Tax Avoidance
On 27 April 2023 the UK issued a consultation document on more severe penalties for promoters of tax avoidance, inviting comments from interest parties by 22 June 2023. Criminal offence for failure to comply with a Stop Notice The document
See MoreColombia amends the tax return and payment deadline in 2023
On 15 February 2023, the Colombian Ministry of Finance published Decree 0219 amending the deadlines for filing and payment of the tax return (declaration) in 2023 for specific taxpayers. Some of the key deadlines for companies depend on the last
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