OECD: Global Forum issues peer review reports on transparency and information exchange
On 6 April 2020 the OECD’s Global Forum on Transparency and Exchange of Information released eight new peer review reports containing assessments of how far the jurisdictions have complied with the international standard on transparency and
See MorePhilippines: Finance Department announces tax relief measures due to COVID-19 pandemic
On 30 March 2020, the Department of Finance issued Revenue Regulations (RR) No. 7-2020 regarding tax relief measures amid COVID-19 pandemic. The key measures are given below: The deadline to file the 2019 annual income tax returns for all
See MoreGuatemala passes Law to mitigate the effects of the COVID-19
On 25 March 2020, Guatemala has approved Decree 12-2020 on "Emergency Law to Protect Guatemalans from the effects caused by the COVID-19 pandemic". The Decree establishes initial sanitary, economic, financial and social measures necessary to
See MoreUganda: Tax measures due to COVID-19 pandemic
On 25 March 2020, the Uganda Revenue Authority (URA) has published a public notice unveiling tax measures to support taxpayers during the COVID-19 pandemic. The main measures in relation to tax obligations are: Taxpayers whose accounting period
See MorePuerto Rico: Additional tax filing deadlines due to COVID-19 outbreak
On 24 March 2020, Puerto Rico Treasury Department (PRTD) Administrative Determination No. 20-09 (AD 20-09) and Administrative Determination No. 20-10 (AD 20-10) extending the filing dates for tax returns and for tax payments due to the
See MoreMalta: Tax measures due to COVID-19 pandemic
On 20 March 2020, Malta's Commissioner for Revenue has issued a press release on 'Postponement of Payment of Certain Taxes'. Recently, the Maltese Government has also announced guidelines on the tax deferral scheme due to COVID-19. The main
See MoreTurkey: Tax measures due to COVID-19 pandemic
On 18 March 2020, Turkey unveiled tax measures to help businesses and individuals during the COVID-19 pandemic. Main measures in relation to tax obligations are: A six-month deferral of tax payments for value added tax (VAT) and
See MoreEstonia suspends interests on tax arrears due to COVID-19 outbreak
On 19 March 2020, Estonia tax authority has suspended the calculation of interests on their tax arrears for the period of emergency with retroactive effect as from 1 March 2020 to 1 May 2020. However, all tax returns must be submitted on time
See MoreTaiwan: Tax measures due to COVID-19 pandemic
On 25 February 2020, Taiwan’s Ministry of Finance (MOF) has issued several tax measures due to the outbreak of COVID-19. The main measures include the following: Taxpayers who are affected by a COVID-19 and are unable to pay their tax
See MoreSaudi Arabia: Tax measures due to COVID-19 pandemic
On 20 March 2020, the Ministry of Finance of Saudi Arabia issued a statement on its website regarding postponement of Zakat returns filing, paying taxes among other procedures for the fiscal year 2019 in response to COVID-19. Main measures of the
See MoreLuxembourg: Tax measures in response to COVID-19 pandemic
On 17 March 2020, Luxembourg Government published a press release regarding tax measures to support businesses and the self-employed in the face of the COVID-19 pandemic. These key measures include: Direct taxes As long as they are
See MoreUkraine: National Bank reduces the interest rate from March 2020
On 12 March 2020, the National Bank of Ukraine decided to reduce its key policy rate from 11% to 10% per annum with effect from 13 March 2020. The interest rate has a tax effect on the late tax payment interest and
See MoreUkraine: Tax measures due to the outbreak of COVID-19
On 17 March 2020, the Ukrainian Parliament adopted Law No 3220 “On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine aimed to support taxpayers during the period of taking measures against the occurrence and spread of
See MoreUK: Further measures to help individuals and businesses
On 20 March 2020 the UK government announced a further package of measures in response to the health crisis. These are in addition to the measures already announced on 17 March. Coronavirus Job Retention Scheme Employers will be able to apply
See MoreEgypt issues Law on renewing tax dispute settlement
On 3 March 2020, Egypt has issued Law 16 on tax disputes resolution in the official gazette. The Law has amended the previous Law 79 of 2016 and extended the provision of tax dispute settlement until 30 June 2020. The Law added a new
See MoreEU: Four more jurisdictions added to blacklist
On 18 February 2020 the European Union (EU) added Panama, Palau, the Seychelles and the Cayman Islands to its blacklist of non-cooperative jurisdictions for tax purposes. The decision was taken at the meeting of the EU economic and finance
See MoreOECD: Peer review reports on exchange of information on tax rulings
On 23 December 2019 the OECD released the 2018 peer review reports on the exchange of information on tax rulings. The reports cover implementation of the minimum standard under action 5 of the OECD action plan on base erosion and profit shifting
See MoreLuxembourg: Parliament approves budget law for 2020
On 19 December 2019, Luxembourg Parliament approved 2020 budget law which was presented by Luxembourg’s Finance Minister on 14 October 2019. According to the budget law, the advance tax rulings issued by the Luxembourg tax authorities before 1
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