Kazakhstan: Government invites public comments regarding transfer pricing amendments
On 16 March 2022, the State Revenue Committee announced that they opened a public consultation on a draft bill to amend transfer pricing rules. The deadline for this public comments is 8 April 2022. The draft Bill contained the following measures
See MoreJordan: ISTD publishes transfer pricing and CbC Notification forms
Recently, the Jordan Income and Sales Tax Department (ISTD) has published new transfer pricing and country-by-country (CbC) Notification forms (Arabic language) in line with executive instructions No. 3 of 16 September 2021. Transfer pricing
See MoreChile joins International Compliance Assurance Program
On 24 February 2022 the OECD announced that Chile has joined the International Compliance Assurance Program (ICAP). The ICAP is a voluntary risk assessment and assurance program whose objective is to facilitate greater cooperation in tax compliance
See MoreOECD announces that Chile has joined the ICAP
On 24 February 2022 the OECD announced that Chile has joined the International Compliance Assurance Program (ICAP). The ICAP is a voluntary risk assessment and assurance program whose objective is to facilitate greater cooperation in tax
See MoreFrance: Government updates list of exempted countries for CbC report local filing obligations
On 14 February 2022, Government published Decree of 14 February 2022, which amends the Order 6 July 2017 pursuant to II of Article 223 quinquies C of the General Tax Code. The new Decree updates the exemption from local filing provided in the
See MoreThailand introduces new CbC reporting requirements
On 12 January 2022, the Thai Revenue Department has issued Notification No. 419 with following additional provisions to the CbC reporting requirements: For CbC reporting, the “reporting entity” must register for e-filing via one of two
See MoreDenmark amends the transfer pricing documentation rules
On 31 January 2022, the Danish Ministry of Finance issued updated guidance regarding amendments to the transfer pricing rules requiring the submission of the transfer pricing documentation within 60 days of the due date for filing the tax return,
See MoreJordan: ISTD issues guide on CbC reporting requirements
On 2 February 2022, the Jordan Income and Sales Tax Department (ISTD) has issued a press release clarifying the issuance of a guide related to the preparation and submission of Country-by-Country (CbC) reports. ISTD has published the guidelines
See MoreDominican Republic: DGII publishes thresholds for TP documentation and some tax issues
The Directorate General of Internal Revenue (DGII) has published Resolution No. DDG- AR1-2021-00001, which provides the general multiplier for inflation adjustments for the fiscal year ending 31 December 2021, including new transfer pricing
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Colombia issues decree on the tax return and TP documentation deadline in 2022
On 20 December 2021, the Colombian Ministry of Finance and Public Credit has issued Decree 1778 specifying the deadlines for filing and payment of the tax return (declaration) in 2022 and the deadline for transfer pricing (TP) documentation,
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South Korea enacts tax revision bill for 2022
In December 2021, South Korea has enacted a tax revision bill for 2022 which was passed by Korea’s National Assembly on 2 December 2021. The tax revision bill is generally effective from fiscal years beginning on or after 1 January 2022. The
See MoreNigeria: FIRS withdraws suspension of CbC reporting obligations for non-parent entities
On 4 January 2022, the Federal Inland Revenue Service (FIRS) issued a new Public Notice to announce that the withdrawal of its Public Notice of 6 May 2021 which suspended local filing obligations contained in Regulation 4 of the Income Tax (CbC
See MoreJordan: ISTD publishes transfer pricing documentation forms
On 2 January 2022, the Jordan Income and Sales Tax Department (ISTD) has published new transfer pricing documentation forms (Arabic) in line with Regulation No. 40 of 7 June 2021. ISTD has published forms for Local File, Master File,
See MoreIceland sets 31 January 2022 deadline for 2021 CbC notification
On 22 December 2021, Iceland published the Notice No.1490/2021 which provides that the CbC report notification in respect of the 2021 fiscal year is to be submitted by 31 January 2022. Companies must designate a company group member to submit CbC
See MoreIreland: Government seeks Public Consultation on CbC tax reporting
On 20 December 2021, the Department of Enterprise, Trade and Employment is seeking the views of stakeholders through a Consultation on the transposition of the new EU directive requiring public country-by-country (CbC) reporting of income tax
See MoreCyprus: Tax department extends the deadline for submitting local CbCR reporting
On 20 December 2021, the Cyprus Tax Department published an announcement informing that the deadline for submission for local CbCR reporting due to the secondary filing mechanism (including Equivalent reporting) for the year 2020 is the 31st of
See MoreThailand revises CbC reporting deadline
On 23 December 2021, the Thai Revenue Department has published a notification on amendments to the filing deadlines for Country-by-Country (CbC) reports. Previously CbC report filing deadline was as same as the annual tax return deadline,
See MorePanama amends CbC reporting penalties
On 11 November 2021, Panama published Law No. 254 in the Official Gazette No. 29413-A, which amends the legislation on international tax transparency and the prevention of money laundering, and the financing of terrorism. The significant
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