Denmark publishes Law and Executive Order to implement DAC6 reporting requirement
On 27 December 2019 and on 31 December 2019 Denmark published Law and Executive Order, simultaneously, for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements (DAC6). This
See MoreIceland: MLI enters into force
On 1 January 2020, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Iceland. On 26 September 2019, Iceland deposited its instrument of ratification for
See MoreDenmark: National Tax Court publishes a decision on the scope of controlled transaction
On 3 January 2020, the National Tax Court published a decision regarding a Case dealing with controlled transactions that "transactions" also include a provision where there is a capital reduction in a company, which is carried out by a reduction
See MoreFrance: Finance Minister announces suspension of DST collection for a year
On 22 January 2020, the Finance Minister declared that French government has agreed to suspend collection of its digital services tax (DST) until December 2020.
See MoreSouth Africa: President signs five revenue related Bills into Law
On 21 January 2020, the National Assembly released a Media Statement, which provides that on 13 January 2020, President, Cyril Ramaphosa, signed into law five different revenue related bills. These bills, which have now been promulgated include the
See MoreFrance and the US agree deal on digital tax
Following talks with the US on taxation of digital companies France has agreed to stop delay collection of its planned digital tax, although the liability for the tax will still accrue. France is planning to impose a 3% digital services tax on
See MoreZambia: Parliament enacts Tax Amendment Act 2020
On 27 December 2019, Zambian Parliament has enacted the Tax Amendment Act 2020 regarding the decree of the National Budget 2020. Income tax amendment is included in Act No. 15 of 2019 which is effective from 1 January 2020. The amendments regarding
See MoreDominican Republic: DGII issues transfer pricing documentation thresholds for 2020
On January 15, 2020, Directorate General of Internal Revenue (DGII) published the Transfer pricing (TP) reporting threshold for 2020. The related party transaction threshold for transfer pricing reporting purposes in 2020 is DOP11,552,402. The
See MorePoland publishes decree deferring new withholding tax requirement to 1 July 2020
On 30 December 2019, a decree was published in the Journal of Laws of the Republic of Poland, which further postponed the application of the most important change to the new withholding tax system (WHT). According to the decree, withholding
See MoreCanada: Reminder for the CbC reporting form submission process
On 9 January 2020, Government announced that as from 1st June 2020, Canadian ultimate parent entities that are corporations must file the RC4649 electronically using EFILE or Web Access Code (WAC). It will be available through CRA-T2-certified
See MoreArgentina: Government publishes General Resolution on dividend WHT rate
On 14 January 2020, the Government issued a General Resolution 4662/2020, which establishes procedures and deadlines for withholding tax payments on dividends paid by a permanent establishment to its parent company. With effect as from 14 January
See MoreIndia: CBDT issues notification to amend the rules for furnishing master file and CbCR
On 6 January 2020, India’s Central Board of Direct Taxes issued a notification amending the rules for maintenance and furnishing of information and document made by constituent entities of international groups. The amendments mainly clarifies the
See MoreNorway: The new statutory GAAR enter into force from 1 January 2020
Norway introduced a new general anti-avoidance rule (GAAR) with effect from 1 January 2020. The new statutory GAAR is similar to the previous GAAR in terms of scope, content and threshold for use with a few exceptions. The statutory GAAR will
See MoreCosta Rica: Ministry of finance publishes draft resolution on tax benefit for SMEs
The Costa Rican Ministry of Finance recently published a draft resolution on tax benefits for SMEs that was introduced by Law No. 9635 of 3 December 2018. The benefits apply to qualified SMEs whose gross income does not exceed CRC 106 million
See MoreWorld Tax Brief: January 2020
Qatar PE rules: On 11 December 2019, Qatar introduced new Income Tax Law No. 24 of 2018, effective from 12 December 2019. The new Law provides additional guidance on permanent establishments (PEs) rule. Computation of
See MoreColombia publishes a decree on tax return and TP documentation deadline
On 23 December 2019, Colombian tax authority (DIAN) has published Decree No. 2345 specifying the deadlines for filing and payment of the tax return (declaration) for 2020 and the deadline for transfer pricing (TP) documentation, including
See MoreItaly publishes new WHT return form
On 15 January 2020, the Italian tax administration approved the updated withholding tax (WHT) return form 770/2020 for fiscal year 2019. The withholding tax return form must be filed electronically by 31 October
See MoreBangladesh introduces tax holiday for power generation companies
The Government of Bangladesh has introduced income tax holiday till 2034 to private sector power generation companies which will go into commercial operation by the next three years. On 09 January 2020, the National Board of Revenue published a
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