COVID-19: Serbia postpones the deadlines for filing corporate income tax returns
On 16 April 2020, the government of Serbia has adopted a decree that postponed the deadlines for filing corporate income tax returns and for submitting annual financial statements or for other actions required of certain regulated companies. The
See MoreDenmark: President announces to postpone a Bill for amending CFC rules
On 15 April 2020, the Prime Minister informed the president of the parliament that some of proposed legislation need to be postponed during COVID-19 pandemic. One of the proposed legislation is Bill L48, which provides the transpose in existing CFC
See MoreCOVID-19: Malaysia extends again deadlines for filing CbC report and notification
On 21 April 2020, the Inland Revenue Board of Malaysia (IRBM) released an updated FAQ on tax matters during the movement control order period. The FAQ contains the further extension of country-by-country reporting deadlines in response to the
See MoreSri Lanka extends return filing deadlines amid COVID-19 pandemic
On 21 April 2020, the Inland Revenue Department (IRD) of Sri Lanka announced extended deadlines for certain tax returns to 31 May 2020 in response to COVID-19 pandemic. The IRD announced revise due date for the following tax returns: Annual
See MoreTurkey extends CIT return filings and payments deadline for 2019
On 17 April 2020, the Turkish Revenue Administration has published Circular No 127 on its website regarding the extension of Corporate Income Tax (CIT) return filings and payments deadline for the fiscal year 2019. The CIT returns for the fiscal
See MoreColombia issues Decree subject to insolvency regime amid COVID-19
On 15 April 2020, Colombia has issued Decree 560 of 2020 regarding insolvency processes, which are intended to mitigate the extent of the effects on companies affected by the declaration of a state of emergency due to COVID-19. The corporate
See MoreTurkey issues Draft General Communiqué on disguised profit distribution
On 16 April 2020, the Turkish Revenue Administration has issued Draft General Communiqué on disguised profit distribution amending General Communiqué no. 1 on Transfer Pricing. The Draft Communiqué No. 4 implements the Presidential
See MorePuerto Rico: Governor signs amendments to the Tax Reform
On 19 April 2020, the Puerto Rican Office of the Governor has announced that Governor Wanda Vázquez Garced has signed tax reform bill for individuals and businesses. The bill includes the following tax measure: an additional reduction of 3% on
See MoreVietnam: Tax measure due to COVID-19 pandemic
On 8 April 2020, Prime Minister of Vietnam approved Decree No 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic. The main measures of the Decree are as
See MoreTaiwan: MOF extends tax return deadline due to COVID-19
On 13 April 2020, Taiwan’s Ministry of Finance (MOF) has extended tax filing and payment deadlines for corporate income tax and individual income tax amid COVID-19 pandemic. The main measures are as following: Corporate income tax original due
See MoreNew Zealand announces temporary loss carry-back scheme in response to COVID-19
On 15 April 2020, New Zealand has announced a temporary loss carry-back scheme in response to COVID-19 to support customers in the current uncertain economic environment. Businesses expecting to make a loss in either the 2020 year or the 2021
See MoreKorea extends individuals tax return filing and payment deadline amid COVID-19
On 9 April 2020, the South Korean Ministry of Economy and Finance has published an announcement regarding tax support in response to COVID-19 pandemic. In the announcement, South Korea’s government has extended tax return filing and payment
See MoreDominican Republic: DGII grants new facilities to taxpayers due to COVID-19 impact
On 12 April 2020, the General Directorate of Internal Taxes (DGII) approved new tax relief measures in response to coronavirus outbreak. This includes: the submission due date of Form IR-17 or other withholding and complementary remuneration,
See MoreCOVID-19: Finland extends the deadline for corporate tax returns by one month
On 9 April 2020, the Finnish tax administration announced an extension of filing deadline for corporate tax returns by one month due to coronavirus outbreak. Corporate entities and benefits under joint administration whose accounting period ended
See MoreEstonia: Parliament passes supplementary budget amid COVID-19 pandemic
On 15 April 2020, The Estonian Parliament has issued a press release announcing that the Act on the supplementary budget has been passed to implement the economic measures related to the spread of the COVID-19. The aim of the measures is to
See MoreNetherlands extends tax payment due dates
To help businesses and employers amid COVID-19 pandemic, the Dutch Tax and Customs Administration (Belastingdienst) has implemented a number of tax measures. Tax payment extension income tax, VAT, vpb and payroll tax: Taxpayers can apply for a
See MoreColombia: Abbreviated tax refund procedure due to COVID-19 Pandemic
On 10 April 2020, Colombia has published Decree 535 regarding the abbreviated procedure of return and/or compensation of balances in favor of taxpayers of income and complementary tax and of sales tax (VAT), within the framework of the state of
See MoreHong Kong: Tax payment deadline automatically extended by three months
On 8 April 2020, the Chief Executive announced that to ease the financial burden and cash flow of businesses and individuals arising from COVID-19, tax payment deadlines for salaries tax, personal assessment and profits tax demand notes for the
See More