Indonesia: DGT publishes regulation extending tax incentives
On 1 October 2020, the Directorate General of Taxation (DGT) of Indonesia published the Regulation No. 143/PMK.03/2020 extending tax incentives to December 31 for medical equipment and services necessary to fight the corona-virus pandemic. The
See MoreVietnam issues Decree regarding 30% CIT reduction for 2020
On 15 October 2020, the Vietnamese Government has issued Decree No. 114/2020/ND-CP on reduction of payable corporate income tax (CIT) of the year 2020 for enterprises, cooperatives, non-business units and other organizations. Previously, The
See MoreHong Kong: IRD updates CbC XML schema and user guide
On 6 October 2020, Inland Revenue Department of Hong Kong has published the updated CbC reports XML schema and user guide. The Department has developed a data schema in XML which is based on the CbC XML Schema issued by the OECD. The data schema
See MoreIsrael extends annual tax return deadline
On 30 September 2020, the Israeli Tax Authority (ITA) has declared an extension of the deadline for submitting annual tax returns. The release indicates that the deadline is extended to 31 October 2020 for the submission of returns through online
See MoreEgypt cancels exemptions for interest, capital gains on treasury bills, bonds
On 5 September 2020, the Egyptian Ministry of Finance has issued Law No. 182 of 2020 abolishing the exemption on the proceeds of treasury bills and bonds or capital gains resulting from dealing in these bills and bonds from tax on income. The
See MoreUN: Committee of Tax Experts to Hold 21st Meeting
The 21st Session of the United Nations Committee of Experts on International Cooperation on Tax Matters will take place from 20 October 2020 to 6 November 2020. The session will be held in scaled-down format using a virtual platform, with virtual
See MoreNorth Macedonia declares Fourth round of tax relief measures amid Covid-19 outbreak
On 24 September 2020, the Ministry of Finance has issued a release announcing the adoption of the fourth round of relief measures in response to the Covid-19 pandemic. The key tax measures are following: The reduction of interest rate
See MoreIMF: Economic Policy Mix to Combat Climate Change
A blog post published by IMF Staff on 7 October 2020 noted that economic policy tools can facilitate the achievement of net zero carbon emissions by the year 2050 despite the effects of the COVID-19 crisis. The arguments put forward in the blog
See MorePoland: Parliament considers bills introducing Estonian tax regime for SMEs
On 30 September 2020, the Polish lower house of Parliament approved the Bill No.643 that provides for the introduction of an optional “Estonian” corporate income tax (CIT) regime for small and medium enterprises (SMEs). The new tax regime is
See MoreSpain: Finance Committee of Senate approves the draft bill for digital services tax
On 1 October 2020, the Finance Committee of the Spanish Senate passed the draft bills regarding digital services tax (DST) and financial transactions tax (FTT). The bill was approved by the Spanish Lower House of Parliament on 30 July
See MoreFrance: Government publishes draft Finance Bill for 2021
On 28 September 2020, the Council of Ministers adopted the French Budget Bill for 2021 or Finance Bill 2021. The draft Bill also includes the recovery plan to restore the economy following the coronavirus pandemic. French Parliamentary discussions
See MorePoland: Parliament approves a bill to amend various income tax rules
On 30 September 2020, the Polish lower house of Parliament (Sejm) approved a Bill No.642 amending various income tax rules for business. The measures of Bill No. 642 will apply from 1 January 2021. The bill includes a number of proposed tax
See MoreIndonesia: Directorate General of Taxation issues new regulations on APA
On 17 September 2020, the Indonesian Directorate General of Taxation posted online Regulation No. PER- 17/PJ/2020 regarding the procedures for completing applications, implementing, and evaluating an advance pricing agreement (APA). The
See MoreKazakhstan: BEPS MLI enters into force
On 29 September 2020, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered
See MoreGreece: Government publishes a Decision to extend the deadline of CIT and WHT return
On 30 September 2020, the Government published Decision no. Α.1219/2020, which provides that the submission deadline of income tax returns of legal entities and legal entities under article 45 of law 4172/2013 and returns of withheld income
See MoreTurkey ratifies MCAA for the exchange of CbCR
On 1 October 2020, Turkish has published Decision No. 3038 for the ratification of the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country reports (CbCR). The Decision was published in the Official
See MoreArgentina: Government announces tax incentives for tourism industry
On 21 September 2020, Argentina Officially published Law No. 27563 providing a package of relief measures to tourism sector and related industries in response to the COVID-19 pandemic. The measures include: Services of travel and tourism
See MorePeru extends tax deferral applications submitting deadline due to COVID-19
On 28 September 2020, the Peruvian tax authorities (SUNAT) issued Supreme Decree No. 285-2020-EF in the Official Gazette. The Decree extends tax deferral applications submitting deadline to 31 December 2020 from 30 September 2020 due to the
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