Brazil: Government extends the installment terms of tax deadlines for small business
On 18 May 2020, the Ministry of Economy published a Resolution No. 155 of 15 May 2020 to extend the deadlines for tax installments due in May, June, and July 2020 within the scope of the simplified (Simples Nacional) regime up to the last business
See MoreArgentina: Government publishes a Resolution regarding new tax payment facility
On 16 May 2020, the Federal Administration of Public Revenue published a General Resolution 4718/2020 of 15 May 2020, to implement a new tax payment facility regime in order to allow the regularization of tax obligations, customs, and social
See MoreLuxembourg: MOF extends deadlines for DAC6 reporting amid COVID-19
On 4 June 2020, the Luxembourg Ministry of Finance (MOF) has published a statement extending the reporting deadline of EU directive on reporting requirements for certain cross-border transactions (DAC6) amid COVID-19 pandemic. On 3 June 2020, EU
See MoreUkraine updates its blacklist adding Panama
On 27 May 2020, the Ukrainian Cabinet of Ministers has published Order No. 582-r updating the blacklist of non-cooperative tax jurisdictions. Through the Order, the Cabinet of Ministers has added Panama to the list. Pursuant to an explanatory note,
See MoreColombia reduces advance of income tax for 2020 amid COVID-19 pandemic
On 29 May 2020, the Colombian Ministry of Finance and Public Credit has published Decree 766, through which it reduces the advance payment to be made by income taxpayers in the year 2020, as a consequence of the emergency generated by
See MoreArgentina: Government extends individual income tax return in response to COVID-19 outbreak
On 21 May 2020, the Federal Administration of Public Revenue published a General Resolution 4721/2020 of 21 May 2020 to extend the filing deadline of the individual tax return to between 27 and 29 July 2020 for the 2019 fiscal period. It also
See MoreColombia modifies thin capitalization rule
On 29 May 2020, the Government of Colombia has issued Decree 761 of 2020, through which the thin capitalization rule established in article 118-1 of the Tax Statute is modified. The decree was substantially ratified by the Law 2010 of 2019 as Law
See MoreTurkey increases withholding tax on capital gains from specific FX hedge funds
On 3 June 2020, the Turkish Revenue Administration has published Presidential Decree No. 2604 in the official gazette, through which the withholding tax on the portfolio income of the specific foreign exchange hedge (Also called FX hedge) funds has
See MoreCanada: The CRA extends tax return deadline until 1 September 2020
On 1 June 2020, the Canada Revenue Agency (CRA) published updated information on their website regarding the extension of corporate tax return or information return submission deadline for businesses, trusts, or partnerships until 1 September 2020
See MoreTurkey: Parliament considers bill to ratify BEPS Multilateral Instrument (MLI)
On 2 June 2020, a draft ratification law has been submitted to the Turkish Parliament for the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). The following day,
See MoreDenmark: Government proposes to extend the payment deadline of wage tax and VAT
On 28 May 2020, the Ministry of Taxation issued a release where the Government and the economic group proposed to extend the payment deadlines for wage tax, labor market contributions, and VAT. With the proposal, Danish companies can look
See MorePuerto Rico extends sales tax exemption in response to COVID-19 pandemic
On 2 June 2020, the Puerto Rico Treasury Department has announced a new period of exemption from payment of sales and use tax in response to COVI-19 pandemic. Through Administrative Determination 20-16, the Treasury Department extends the sales
See MoreTurkey fixes tax return deadline for taxpayers of 65 and above amid COVID-19
On 2 June 2020, the Turkish Revenue Administration has published an announcement regarding the declaration and payment obligation of taxpayers aged 65 and over who are exempted from curfew with the new normalization process. In the announcement, it
See MoreWorld Tax Brief: June 2020
AustraliaFiling return: The Australian taxation office extended the lodgment day for 2018–19 company tax returns until 5 June 2020, which were due on 15 May 2020.See the story in RegfollowerBoliviaFiling return: On 9 May 2020, the National Tax
See MoreOECD: Revenue Statistics in Latin America and the Caribbean 2020
Revenue Statistics in Latin America and the Caribbean 2020 was published om 7 May 2020 and covers 26 countries in the region. The publication is prepared jointly by the OECD’s Centre for Policy and Tax Administration, the OECD Development Centre,
See MoreColombia: Measures regarding indirect tax in response to COVID-19 pandemic
On 21 May 2020, the Colombian Ministry of Finance and Public Credit has published Decree 682 through which it establishes some measures on the consumption tax in the sale of food and beverages, as well as on the sales tax on the leasing of
See MoreFrance: Government postpones several payment of tax due to COVID-19 pandemic
On 29 May 2020, the Government made an announcement regarding an extension of the deadlines from 15 June 2020 to 30 June 2020 for the payment of corporate tax (IS) and contribution on added value (CVAE) installments due to
See MoreUkraine: Parliament adopts law on tax benefits and the moratorium on tax audit
On 28 May 2020, the Ukrainian Parliament has published Law No. 591-IX “On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on Additional Support to Taxpayers for the Period of Measures to Prevent the Occurrence and Spread of
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