Algeria announces supplementary finance law for 2023
In November 2023, Algeria published the Supplementary Finance Law for 2023 in the Official Gazette. The key tax measures of the law include: A new transfer pricing declaration obligation has been introduced, requiring taxpayers to submit an
See MoreColombia: Reminder on tax amnesty deadline
It’s a reminder for the Colombian taxpayers wishing to take part in ongoing tax amnesties. The Colombian 2019 tax reform establishes a tax amnesty to “normalize” (i) unreported assets; or (ii) nonexistent liabilities that were included on a
See MorePhilippines: BIR clarifies certain issues on Tax Amnesty
On 31 May 2019, the Philippines Bureau of Internal Revenue (BIR) has published Revenue Memorandum Circular (RMC) 57-2019 clarifying certain issues on tax amnesty. This circular is issued to address the frequently-asked questions regarding the tax
See MorePhilippines: Senate approves tax amnesty Bill No. 2059
The Senate made an announcement that it approved Senate Bill No. 2059 on November 19, 2018, which seeks to allow a one-time opportunity to settle tax obligations. This Bill grants amnesty to taxpayers who have been remiss on paying estate taxes, all
See MorePeru-Issued Decree on temporary tax amnesty regime to regularize unreported assets
The Executive Branch of Peru issued Decree No. 1264 on 11 December 2016 providing for a temporary tax amnesty regime to regularize unreported assets. The benefits of the tax amnesty regime are the abolition of fines, sanctions and any past income
See MoreArgentina: Amendments and clarification in tax amnesty regime
A Decree 1,206/2016 was published in the Official Gazette of 30th November 2016 and effective from 1st December 2016. This decree amends and clarifies certain aspects of the tax amnesty regime implemented by Decree 895/2016. The main requirements
See MoreTurkey: Provisions in tax amnesty
The Turkish Parliament has passed a tax amnesty program as Law No. 6552 that was released on September 11, 2014. Generally, this program under the new law permits taxpayers with unpaid tax debts and associated penalties and interest to give these
See MoreEmployee Benefit Trust Amnesty has been withdrawn by HMRC
HMRC will withdraw a tax dispute settlement facility for businesses that used an Employee Benefit Trust (EBT) and from April 1, 2015 this facility will no longer be available. Employers those have notified their intention to HMRC to settle before
See MoreBrazil: Modify the tax amnesty programs
Brazil recently published MP 638/14 provisional measure in order to expand the availability of the tax amnesty program under REFIS also referred as special tax recovery program, legislated by Law 11,941/09 and Law 12,249/10.The federal tax amnesty
See MoreBrazil published some special amnesty programs
Law 12,865 was published in Brazil’s official bulletin on 10 October 2013 and has now come into force in Brazil. The Law provides for specific rules regarding the expected amnesty programs targeting companies that carry open debts resulting from
See MoreArgentina –Extension of the Foreign-Currency Tax Amnesty Program
In Argentina, a tax amnesty program has been extended until the end of this year for those Argentines who have undeclared foreign currency. The government introduced the amnesty In June 2013. According to the amnesty those who have professed
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