Slovak Republic: New proposal to revise R&D tax regime
On 21 February 2019, the government of Slovak Republic proposed to amend the research and development (R&D) tax regime. The proposed amendment would increase the allowable deduction with qualifying R&D expenditures. According to proposal,
See MoreDominican Republic reissues simplified tax regime for micro-enterprises
On 23 January 2019, The Dominican Republic’s Directorate General of Internal Revenue (DGII) announced a proposal to reissue the simplified tax regime for micro-enterprises. The regime would be available for businesses with revenue up to USD171,825
See MoreLuxembourg: Tax Authority clarifies the new Permanent Establishment definition
On 22 February 2019, Luxembourg tax authorities issued a new circular (No.19) that clarifies recently added the new Permanent Establishment (PE) definition as set forth in article 16(5) of the Tax Adaptation Law (StAnpG). Under the new paragraph,
See MoreHong Kong: IRD publishes 2018/19 profits tax returns and supplementary forms
On 18 February 2019, the Hong Kong Inland Revenue Department (IRD) has published the sample Profit Tax Returns for 2018/2019 including new Transfer Pricing Disclosure Form and other supplementary forms. The supplementary forms are also provided for
See MoreCosta Rica: MOF publishes resolution on tax residence certificates
On 19 February 2019, Costa Rica's Ministry of Finance (MOF) published a Resolution (was first published in the Official Gazette on 4 February 2019), which provides rules on the determination of tax residence and the issuance of residence
See MoreChile: IRS amends the annual transfer pricing form
The Internal Revenue Service (IRS) has issued a new version of the annual transfer pricing tax return (Form 1907) to be used in 2019, and includes new sections on Country Reporting (CbC). The IRS also added the instructions of the 1907
See MoreSouth Africa introduces Budget 2019 in parliament
On 20 February 2019, Tito Mboweni (South Africa’s Minister of Finance) presented the Budget 2019 in the parliament. The budget proposal would not increase taxes in any category but proposed to increase tax collection by not adjusting for inflation
See MoreArgentina: Resolution for benefits under mining regime
On 4 February 2019, Argentina published Resolution 6/2019 of 31 January 2019 in the Official Gazette, which establishes a special promotion regime for the development of the mining activity in the Argentine territory provided by Law No. 24,196. The
See MoreEgypt publishes a draft of Consolidated Tax Procedures Act
On 17 February 2019, the Ministry of Finance of Egypt has published a draft consolidated tax procedures Act for public discussion. The Act aims to facilitate the procedures related to the collection of various taxes to prevent multiple procedures
See MorePeru: Tax authority clarifies the scope of CFC rules
On 7 February 2019, the Peruvian Tax Authority published a report (097-2018-SUNAT / 7T00000) clarifying the passive net income attribution of CFC rules to its Peruvian shareholders. The Ministry of Finance simplifies the following issues in the
See MoreIreland: Public consultation on new transfer pricing regime
On 18 February 2019, Department of Finance of Ireland released the public consultation document to update transfer pricing regime, with an effective date of 1 January 2020. The consultation looks for feedback on a number of aspects of existing
See MoreOECD: Taxpayer input required for eighth batch of dispute resolution peer reviews
The OECD announced on19 February 2019 that it is currently collecting taxpayer input in preparation for the eight batch of stage 1 peer reviews in relation to improving the tax treaty dispute resolution process under Action 14 of the project on base
See MorePortugal: Parliament proposes to implements The Anti-Tax Avoidance Directive
Recently, the Portuguese Government has submitted to Parliament the Bill No.177/XIII introducing changes to the Income Tax Act to implement certain ATAD-1 rules. The bill proposed rules for the limitation of interest deductions and rules for
See MoreOECD: Comment period extended on tax challenges of digitalisation
On 19 February 2019 the OECD announced that the consultation period in relation to the public consultation document on possible solutions to the tax challenges of digitalisation has been extended to 6 March 2019. The public consultation meeting on
See MoreUK: Consultation on Plastic Packaging Tax
On 17 February 2019 the UK government issued a consultation document on the introduction of a plastic packaging tax, inviting comments from interested parties by 12 May 2019. This consultation follows a call for evidence in March 2018 which
See MoreUK: Support for Tax Capacity Building
On 19 February 2019 the UK’s Department for International Development (DFID) announced new assistance to give support to developing countries in generating greater tax revenue, tackling tax avoidance and creating a level playing field for
See MoreUK: Finance Act 2019 receives Royal Assent
The UK Finance Act 2019 received the Royal Assent on 12 February 2019. The Act includes some of the measures announced by the Chancellor in the Autumn Budget in October 2018. Annual Investment Allowance The Annual Investment Allowance (AIA) is being
See MoreSingapore presents Budget for 2019
On 18 February 2019, the Finance Minister of Singapore delivered the Budget for 2019. The main tax-related measures are summarized below: To maintain support to companies in their automation, productivity and scale-up efforts, the 100%
See More