COVID-19: US IRS extends additional key tax deadlines for certain individuals and businesses
On 9 April 2020, the Department of Treasury and the Internal Revenue Service published a notice that extends additional key tax deadlines for individuals and businesses. In March 2020, the IRS announced that taxpayers generally have until July
See MoreCanada: The CRA cancels Circular IC 87- 2R regarding guidance for applying TP rules
The Canada Revenue Agency (CRA) has cancelled the Circular IC 87- 2R as from 30 December 2019, because it is inconsistent with the interpretation and application of Canadian transfer pricing legislation and does not reflect updates to the OECD
See MorePlatform for Collaboration on Tax Launches Website
A new website has been launched by the Platform for Collaboration on Tax (PCT). The PCT is a joint initiative of the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the United Nations (UN), and
See MoreAngola: Tax measures due to COVID-19 pandemic
On 13 April 2020, the Ministry of Finance of Angola has issued a press release regarding tax measures in the scope of the response and relief of the economic impact caused by the COVID-19 pandemic. The main measures are as following: Extension
See MoreIMF: Fiscal Monitor discusses policies to support individuals and businesses
The April 2020 issue of the IMF’s Fiscal Monitor discusses policies to support individuals and businesses through the coronavirus crisis and the resulting economic problems. The Fiscal Monitor looks at certain temporary and targeted fiscal
See MoreCOVID-19: Serbia publishes a decree on tax relief measures
On 10 April 2020, Serbia published a decree in the official gazette providing tax relief as well as direct financial aid to certain companies in response to the coronavirus (COVID-19) pandemic. The following tax measures included in the
See MoreSri Lanka: WHT payment extension due to COVID-19 pandemic
Sri Lanka has issued a notice on an extension of the payment deadline for withholding tax (WHT) amid COVID-19 pandemic. According to the notice, those who are liable to make withholding tax payments for the month of February 2020 which was due on
See MoreFrance: Tax authority announces exceptional measures to support businesses during COVID-19
On 6 April 2020, the French tax authorities announced exceptional tax measures in response to coronavirus outbreak. These are: The corporate income tax installment payment of March 15 could be delayed until 15 June for all companies. Companies
See MoreBrazil: Latest status of tax relief measures in response to COVID-19 pandemic
On 3 April 2020, the Government published Resolution No. 154 of 3 April 2020 in the Official Gazette, which extends the payments deadlines for taxes and social security contributions for taxpayers under the Simples Nacional regime due to
See MoreCzech Republic: Finance Ministry announces latest updates in response to COVID-19 outbreak
On 14 April 2020, the Finance Ministry has made announcement about some measures related to VAT. The measures are given below: The penalty of amount CZK 1,000 applies in case of fail to file a control statement during the period lies from 1
See MorePeru: SUNAT modifies tax filing deadline amid COVID-19 pandemic
On 30 March 2020, the Peruvian Tax Administration (SUNAT) has published Resolution No. 065-2020/SUNAT in the Official Gazette modifying Resolution No. 055-2020/SUNAT. The Resolution facilitates compliance with tax obligations before the
See MoreGreece: Measures regarding VAT in response to COVID-19 pandemic
On 13 April 2020, the Minister of Finance and the Commander of the Independent Public Revenue Authority officially published an Act, FEK A' 84/13-04-2020. Article 3 of this Act includes that companies affected by the coronavirus outbreak can offset
See MoreColombia: Additional tax deadline extensions due to COVID-19 pandemic
On 6 April 2020, Colombia has published Decree 520 regarding the dates for the presentation and payment of the income tax declaration and complementary tax year 2019, of large taxpayers and legal entities, as well as the dates for the
See MoreCOVID-19: Malaysia extends deadline for filing CbC report and notification
On 10 April 2020, the Inland Revenue Board of Malaysia (IRBM) published an updated FAQ document related to the tax management issue in response to COVID-19 pandemic that includes the extension of the deadline for submitting country-by-country (CbC)
See MoreOECD: Seven peer review reports on BEPS Action 14 published
On 9 April 2020 the OECD published a further batch of reports in relation to stage 2 of the peer reviews of the implementation of Action 14 of the action plan on base erosion and profit shifting (BEPS). The minimum standard under BEPS action 14
See MoreSri Lanka: Updated notice on implementation of amendments to the Inland Revenue Act 2017
On 8 April 2020, the Inland Revenue Department (IRD) of Sri Lanka published a revised version of a notice regarding the implementation of proposed amendments to the Inland Revenue Act, No. 24 of 2017. As instructed by the Ministry of
See MoreMalta: Parliament enacts the Budget Measures Implementation Act 2020
On 20 March 2020, the Maltese Parliament has enacted the Budget Measures Implementation Act 2020. Through the enactment of this legislation, amendments were made to the Income Tax Act (ITA), Value Added Tax Act (VATA), Income Tax Management Act
See MoreSingapore extends tax filing deadlines amid COVID-19 pandemic
The Inland Revenue Authority of Singapore (IRAS) has published COVID-19 Support Measures and Tax Guidance, as part of support measures to help taxpayers in light of the COVID-19 situation, Inland Revenue Authority of Singapore (IRAS) is providing
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