Belgium extends deadline for filing CIT return
The tax authority of Belgium has declared corporate income tax (CIT) return filing deadlines for the 2019 tax year, with a concession for those with a deadline prior to September 26, 2019. Generally, tax returns are due by the last day of the
See MoreColombia: DIAN simplifies the scope of new thin capitalization rule
On 5 April 2019, the tax Authority (DIAN) of Colombia published an opinion No. 8159, concerning the scope of the thin capitalization rule, ratification with the Financing Law (Law 1943 of 2018). Accordingly, as from taxable year 2019, the thin
See MoreBelgium: New law with withholding tax exemption on dividends
On 6 May 2019, Belgium published in the Official Gazette the Law of 28 April 2019 on various tax provisions along with the amendment of Article 264 of the Income Tax Code, which provides for an exemption from withholding tax on dividends
See MoreWorld Tax Brief: May 2019
MexicoIncentives-Industry/manufacturing: On 29 April 2019, the Mexican Tax Administration has published the Miscellaneous Tax Code of 2019. Accordingly, the regulations grants special tax incentive decree for interest on corporate debt
See MoreItaly releases a decree of urgent economic growth measures
On 30 April 2019, Italy publishes a decree regarding “urgent economic growth measures” (Decreto Crescita) which entered into force on 1 May 2019. Under the decree following tax incentives are introduced; As an extra or bonus depreciation
See MoreIreland commences Public Consultation on R&D Tax Credit
Ireland's Department of Finance has launched a public consultation on a review of the 25% research and development (R&D) tax credit, which was introduced in the Finance Act 2004 to encourage companies to undertake high-value-add
See MoreKenya: KRA releases a notification on taxation of e-commerce
On 3 May 2019, the Kenya Revenue Authority (KRA) published a public notification on the taxation of e-commerce regarding some taxpayers carry on online business and they do not file returns or pay taxes on the transactions. The tax authority
See MoreMexico publishes Annexes to Miscellaneous Tax Resolution 2019
On 29 April 2019, Annexes of the Miscellaneous Tax Resolution for fiscal year 2019 (Resolución Miscelánea Fiscal para 2019, RMF 2019) were published in the Official Gazette published. The location of the administrative units of the Tax
See MoreTransfer Pricing Brief: May 2019
JapanAudit Rules-Statute of limitation: On 27 March 2019, the Parliament of Japan adopted the legislation for the government's tax reform proposals for 2019. Accordingly, the statute of limitations for transfer pricing purposes is extended
See MorePeru: SUNAT issues a rule on Interest paid on loans from related parties
On 23 April 2019, the Tax Administration (SUNAT) of Peru issued Administrative rule 033-2019-SUNAT/7T0000 regarding the application of the Peruvian thin capitalization rules which specify a restriction of the deduction of interest on loans where a
See MoreIndonesia: MOF publishes regulations on permanent establishment’s rules
On 1 April 2019, the Minister of Finance (MoF) of Indonesia Published Regulation No. 35 / PMK.03 / 2019, on what constitutes a permanent establishment (PE).The main measures contain that are: According to the Regulation (PMK-35), the following
See MoreIndia: CBDT invites public comments on proposal to amend rules for profit attribution to PE
On 18 April 2019, the Central Board of Direct Taxes (CBDT) released the Committee’s report on profit attribution to a permanent establishment (PE) in India for public consultation, specifically requesting for comments on the conclusions and
See MoreTaiwan: Cabinet passes a draft bill on encouraging repatriation of offshore funds
On 11 April 2019, the Cabinet of Taiwan approved a draft bill regarding the repatriation, use and taxation of offshore installations. The bill now goes to the legislature for review and debate. The draft bill clarifies that repatriated assets
See MoreUkraine: SFS clarifies controlled transactions between a non-resident and its PE in Ukraine
On 19 April 2019, the State Fiscal Service (SFS) of Ukraine published a guidance letter 1723/6/99-99-15-02-02-15/IPK on the treatment of transactions between a non-resident and its permanent establishment (PE) in Ukraine as controlled for transfer
See MoreRussia enacts law regarding taxation of capital gains
Recently, the Russian government has enacted the Federal Law No. 63-FZ of 15 April 15 "On Amendments to the Second Part of the Tax Code of the Russian Federation and Article 9 of the Federal Law". The law slightly changes Article 217 of the Tax
See MoreHong Kong: IRD publishes practice note regarding R&D tax concession
On 11 April 2019, the Inland Revenue Department (“IRD”) published its practice note regarding the research and development (“R&D”) tax concession in Hong Kong. DIPN 55 sets out the IRD’s interpretation of the R&D tax
See MorePuerto Rico publishes Circular regarding new quarterly tax return for withholding Payments for services provided
On 4 April 2019, the Puerto Rican Department of Treasury issued a Circular Letter No. 19-10 regarding new quarterly tax return for withholding Payments for services provided, using a new quarterly return form(Form 480.6 SP-1). The
See MoreColombia publishes a decree on deadline of tax filing returns and tax payment for 2019
On 8 April 2019, Colombia issued Decree 608 of 2019 in the Official Gazette that provides rules on the filing of returns for the net worth tax between 26 September 2019 and 9 October 2019, depending on the last digit of the Tax Identification
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