Argentina: AFIP extends payment facility for SMEs
On 26 January 2021, the Federal administration of Public Revenue (AFIP) published General Resolution 4917/2021 of 26 January 2021 regarding the extension of tax payment facility for small and medium enterprises (SMEs) from 31 January 2021 until 31
See MoreFrance: Government publishes a country list with no CbC reporting obligation
On 3 February 2021, Government published a Decree of 3 February 2021, amending the order of July 6, 2017 amended in accordance with II of article 223 quinquies C of the general tax code. The decree comes into force the day after its publication.
See MoreLuxembourg: 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 MoreBelgium plans to launch further TP audit cycle
On 11 January 2021, a number of selected Belgian taxpayers received a transfer pricing (TP) questionnaires from the tax authority’s special TP audit department. Based on noncompliant TP forms again audit cycles will be launched by the special TP
See MoreEl Salvador: Ministry of Finance publishes interest rates for late tax payment
On 29 January 2021, the El Salvador's Ministry of Finance has issued a notice regarding interest rates for late tax payments during the period 1 February to 31 July 2021. This includes an annual interest rate of 6.77%, which is increased to 10.77%
See MoreIMF Country Focus on Nigeria
On 8 February the IMF published a country focus analysing Nigeria’s economy, based on the findings of consultations with Nigeria in relation to Article IV of the IMF’s articles of association. Nigeria is expected to have only a weak and
See MoreIMF: Economic Outlook in Sweden
On 2 February 2021 the IMF issued a report following discussions with Sweden in relation to article IV of the IMF’s articles of agreement. Sweden has been hit hard by the pandemic but has introduced effective support measures for individuals
See MorePhilippines: CREATE Bill sends to President for signature to make it Law
On 3 February 2021, the House of Representatives announced in a release that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill has been approved in Congress and the final bill has been sent to the President for signature to
See MoreArgentina: AFIP further extends suspension of prosecution proceedings for tax collection
In response to COVID-19 pandemic, on 29 January 2021, the Federal Administration of Public Revenue (AFIP) published General Resolution 4926/2021 of 29 January 2021, providing further suspension up to 28 February 2021 regarding the suspension of the
See MoreSri Lanka launches online tax payment platform
The Inland Revenue Department (IRD) of Sri Lanka has published a notice introducing Online Tax Payment Platform (OTPP) with effect from 8 February 2021, to make tax payment with the collaboration of below mentioned banks, in addition to the
See MoreQatar introduces TP declaration with tax return
The General Tax Authority (GTA) of Qatar has confirmed that taxpayers filing their income tax returns via the tax authority’s Dhareeba tax portal must also file a transfer pricing (TP) declaration of related-party transactions along with their
See MoreMalaysia releases updated tax guide on digital services
On 1 February 2021, the Royal Malaysian Customs Department published an updated Guide on Digital Services by Foreign Service Provider (FSP), which replaces the prior guide dated 1 August 2020. Effective 1st January 2020, service tax shall be
See MoreHungary: MOF publishes guidance on Mandatory Disclosure Rules
On 28 January 2021, the Hungarian Ministry of Finance published guidance on DAC6 reporting, which expands upon earlier guidance first issued in July 2020. The guidance serves as a general explanation on the provisions of the Hungarian MDR
See MorePoland: MOF announces a draft law introducing new advertising tax
On 2 February 2021, the Polish Government issued a draft introducing a new advertising tax (premium) on digital (internet) advertising and conventional advertising. The online advertising premium rate will be 5%. It will apply to advertisers whose
See MoreMexico sets threshold for reporting customized transactions under MDR
On 2 February 2021, Mexico has published Agreement 13/2021 in the Official Gazette. The Agreement sets threshold for reportable cross-border arrangements under the Mandatory Disclosure Regime (MDR). This Agreement is applicable from 3 February
See MoreBotswana: Finance Minister presents Budget for 2021 to the National Assembly
On 1 February 2021, Dr. Thapelo Matsheka, Botswana’s Minister of Finance and Economic Development has presented National Budget for the fiscal year 2021 to the National Assembly. The Budget contains a number of important tax measures. The key
See MoreSingapore updates guidance on tax residence rules of a company and PE
The Inland Revenue Authority of Singapore (IRAS) issued updated guidance on the tax residence status of companies and permanent establishments (PE) in light of the Covid-19 pandemic. Tax Residence Status of a Company Where a company is not
See MoreIndia: Finance Minister presents the Union Budget 2021-22
On 1 February 2021, the Finance Minister presented the Union Budget 2021-22 containing following tax proposals. The budget proposed to reduces the length of time for assessment procedures from 24 months to 21 months (measured from the end of the
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