COVID-19: Cyprus extends the payment deadline for tonnage tax
On 27 March 2020, the Shipping Deputy Ministry (SDM) has decided to extend the date of payment of the Cyprus Registry Maintenance Annual Fee and the tonnage tax of Cyprus ships due to the widespread of the coronavirus outbreak. In this respect,
See MoreCroatia: New provisions of tax relief measure during COVID-19 pandemic
On 8 April 2020, the Ministry of Finance Officially published an Ordinance regarding deadlines for submission of financial statements and accounting documentation amid COVID-19 pandemic. This Ordinance came into force from 9 April 2020. The
See MoreOECD releases second peer review report on prevention of treaty abuse
On 24 March 2020 the OECD published the second peer review report on the implementation by countries of the minimum standard under Action 6 of the action plan on base erosion and profit shifting (BEPS). This is the second peer review report under
See MoreNew Zealand: Inland Revenue announced relief regarding APA during COVID-19
The New Zealand’s Inland Revenue (IR) has announced relief regarding advance pricing agreement (APA) during the COVID-19 outbreak. Inland Revenue has assured that customers do not need to take any specific action now to ensure that their
See MoreSlovenia: Tax measures due to COVID 19 pandemic
On 2 April 2020, The Slovenian Parliament has approved an Act as a consequence of the epidemic of an infectious disease COVID-19. The Act contains several tax measures to mitigate the financial impact of the present circumstance. The main tax
See MoreJapan announces emergency economic measures in response to COVID-19 pandemic
On 7 April 2020, the National Tax Agency of Japan announced tax relief measures in response to the coronavirus (COVID-19) pandemic. For almost all national tax liabilities of legal or individual taxpayers for which payment due dates fall
See MoreDenmark: Ministry of Taxation extends all filing deadlines, including transfer pricing documentation
On 31 March 2020, the Ministry of Taxation announced that all the deadlines of tax filing for the 2019 income year and transfer pricing documentation is postponed until 1 September 2020. Employees with an annual tax assessment due date of 1 May
See MoreSlovenia: Financial Administration publishes new guidance on DAC6
On 2 April 2020, the Slovenian Financial Administration published new guidance on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The guidelines describe the scope of the reporting obligations, including the hallmarks
See MoreThailand extends tax returns filing deadlines in response to COVID-19 pandemic
The Ministry of Finance of Thailand has launched three Notifications to extend filing tax returns and submitting payments according to the Cabinet Resolution on 24 March 2020. This is to help people and entrepreneurs to increase liquidity referring
See MoreCOVID-19: Finland reduces interest rate for late payment of taxes
On 2 April 2020, the Finnish Ministry of Finance released an announcement that reduces the interest rate on late payments of taxes in response the coronavirus pandemic. The government proposed that the default interest rate is temporarily reduced
See MoreOECD: Tax issues for cross border workers during the COVID-19 crisis
On 7 April 2020 the OECD published on its website guidance on tax issues relating to cross-border workers during the crisis. As a result of travel restrictions and quarantine requirements many cross-border workers cannot go to the country where
See MoreOECD: Forum on Tax Administration publishes advice on business continuity considerations for tax administrations
On 7 April 2020 the OECD Forum on Tax Administration (FTA) published a document containing advice on business continuity considerations to be taken into account by tax administrations as they deal with the tax consequences of the COVID-19
See MorePanama extends suspension of administrative appeals proceedings amid COVID-19 pandemic
The tax authority of Panama published Resolution No. 201-2353 of 2020, amending Resolution No. 201- 2270 of 2020 to extend the suspension of administrative appeals proceedings until the emergency is lifted due to the COVID-19 outbreak. Previously
See MoreOECD: Global Forum issues peer review reports on transparency and information exchange
On 6 April 2020 the OECD’s Global Forum on Transparency and Exchange of Information released eight new peer review reports containing assessments of how far the jurisdictions have complied with the international standard on transparency and
See MoreCOVID-19: Indonesia publishes further guidance in response to coronavirus outbreak
On 31 March 2020, Indonesia President signed the Government Regulation No. 1 for 2020 (PERPPU-1) in handling COVID-19 outbreak. The regulation includes the following tax measures. The CIT rate is reduced from 25% to 22% for tax years 2020
See MoreAzerbaijan: Tax measures due to COVID-19 outbreak
On 29 March 2020, the Azerbaijan Ministry of Economy issues press release clarifying deadlines for submission of tax returns and other measures due to COVID-19 outbreak. According to a decree of 25 March 2020, the period from 29 March to 3 April
See MoreArgentina: Government announces further extension of transfer pricing return deadline (COVID-19)
On 31 March 2020, the Government officially published General Resolution 4689/2020 of 30 March 2020, which provides a further extension of the extended timeline to transfer pricing filing returns forms (Form 741, Form 743, Form 867 and Form 4501)
See MoreOman ratifies multilateral instrument
On 31 March 2020, the Sultan of Oman issued the royal decree for the ratification of the multilateral convention for the implementation of the double taxation agreement (DTA) related measures to prevent base erosion and profit shifting (MLI). Now
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