Ukraine: STS provides main provisions on amendments to the Tax Code
On 24 December 2021, the State Tax Service (STS) has issued a press release providing the main provisions of the Law No. 1914 of 30 November 2021 “On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine to ensure the
See MoreTurkey reduces withholding tax rates on corporate dividends distributions
On 22 December 2021, the Turkish Revenue Administration has issued Presidential Decision No. 4936 in the Official Gazette reducing the withholding tax rate on corporate dividends distributions from 15% to 10%. The Decision entered into force on the
See MoreOECD: Measuring Tax Support for R&D and Innovation
On 9 December 2021 the OECD published the latest research and development (R&D) tax incentives database report. This was accompanied by the 2021 update of the R&D Tax Incentives database and a series of R&D tax incentive country
See MoreIreland: Revenue issues an eBrief to update a manual on R&D tax credit
On 14 December 2021, the Revenue published an eBrief 226/21, which updates a manual to clarify certain aspects of the Research and Development (R&D) Tax Credit. The following aspects have been updated: to reiterate that measures to enhance
See MoreUkraine: President signs law on tax incentives for the IT industry
On 20 December 2021, the President of Ukraine has signed Law No. 1946-IX providing ‘Diia City’ resident IT companies special tax and legal regime from 2022. This will come into force at the end of January 2022. The Law provides for a number
See MoreIreland: Government seeks Public Consultation on CbC tax reporting
On 20 December 2021, the Department of Enterprise, Trade and Employment is seeking the views of stakeholders through a Consultation on the transposition of the new EU directive requiring public country-by-country (CbC) reporting of income tax
See MoreEU: Proposed Directive on Global Minimum Tax
On 22 December 2021 the European Commission proposed a Directive to ensure that large multinational groups are subject to a global minimum effective tax rate. The proposal follows the terms of the international agreement on Pillar 2 of the OECD
See MoreOECD: Updates to Transfer Pricing Country Profiles
On 13 December 2021 the OECD released updated transfer pricing country profiles for 18 countries, together with new transfer pricing profiles for Albania, Kenya and the Maldives. The OECD has now created transfer pricing profiles for a total of 63
See MoreOECD: Fiscal Federalism 2022
On 20 December 2021 the OECD released the publication Fiscal Federalism 2022: Making Decentralisation Work. This looks at trends in relations with subnational governments as the world strives to emerge from the crisis caused by the
See MoreOECD: Global Anti-Base Erosion (GloBE) Rules
On 20 December 2021 the OECD published the document Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two). The Global Anti-Base Erosion (GloBE) Rules provide for large multinational
See MoreCyprus: Tax department extends the deadline for submitting local CbCR reporting
On 20 December 2021, the Cyprus Tax Department published an announcement informing that the deadline for submission for local CbCR reporting due to the secondary filing mechanism (including Equivalent reporting) for the year 2020 is the 31st of
See MoreThailand extends certain tax incentives
The government of Thailand has declared that it will extend the period of certain tax incentives for business located in the special economic development zones (SEZs) in Narathiwat province, Pattani province, Yala province, Songkhla province (only
See MoreThailand revises CbC reporting deadline
On 23 December 2021, the Thai Revenue Department has published a notification on amendments to the filing deadlines for Country-by-Country (CbC) reports. Previously CbC report filing deadline was as same as the annual tax return deadline,
See MoreItaly announces statutory interest rate for 2022
On 15 December 2021, Italy has published the Ministerial Decree that increases the statutory interest rate to 1.25% with effect from 1 January 2022. Previously, the statutory interest rate was
See MoreIreland: Revenue updates guidelines for requesting MAP assistance
On 23 December 2021, the Revenue published an eBrief No. 236/21 on the updated Manual for requesting Mutual Agreement Procedure (“MAP”) assistance in Ireland. The Guide has been updated to incorporate Council Directive (EU) 2017/1852 of 10
See MoreSouth Africa: National Treasury invites public consultation on tax policy documents
On 15 December 2021, the National Treasury published a Media Statement of three discussion documents on tax policy for public comment. The National Treasury and the Department of Mineral Resources and Energy invited comments from interested
See MoreOECD: Digital Transformation Maturity Model
On 16 December 2021 the OECD’s Forum on Tax Administration (FTA) published a report on the Digital Transformation Maturity Model. The Digital Transformation Maturity Model was developed by the FTA’s Tax Administration 3.0 Maturity Model
See MoreOECD: Supporting the Digitalisation of Developing Country Tax Administrations
On 16 December 2021 the OECD’s Forum on Tax Administration (FTA) published a report entitled: Supporting the Digitalisation of Developing Country Tax Administrations. Digital technology is creating opportunities for more efficient ways for tax
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