Bulgaria: Parliament publishes a Law to extend the deadline for DAC6
On 4 August 2020, the National Assembly Officially published a Law to extend the due date of cross border arrangements (DAC6). According to the Law, the deadline to report arrangements, which was implemented between 25 June 2018 and 30 June 2020,
See MoreHungary releases guideline on DAC6 reporting
On July 20, 2020, the Hungarian National Tax and Customs Administration published guidelines on the new reporting obligation for cross-border tax planning agreements (DAC6). The guidelines provide an overview of the reporting legislation, the
See MoreIndonesia: MLI enters into force
On 22 July 2020, OECD has published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into
See MoreMalta issues legal notice regarding deferral of DAC6
On 31 July 2020, Malta’s Commissioner for Revenue has issued Legal Notice 315 of 2020, which enacts the deferral of reporting on EU cross-border arrangements (DAC6) due to COVID-19 pandemic. All reporting and data exchange deadlines in 2020, the
See MorePhilippines: Bureau of Internal Revenue issues a Circular regarding new RPT form
On 29 July 2020, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 76-2020, which addresses the frequently asked questions regarding the submission of Related Party Transaction (BIR Form No. 1709, or RPT) Form, and its
See MoreSpain: Lower house of parliament approves draft bills for DST & FTT
On 30 July 2020, the Spanish Lower House of Parliament approved draft laws for a tax on digital services (DST) and a financial transaction tax (FTT). Accordingly, 3% tax to be levied on digital services including online advertising, online
See MoreTransfer Pricing Brief: August 2020
ArgentinaTransfer pricing information return: On 13 July 2020, the Federal Administration of Public Revenue (AFIP) published General Resolution 4759/2020 of 8 July 2020, which make slight amendments in the transitional submission deadlines of the
See MoreCzech Republic: Supreme Court makes a decision regarding statute of limitations
On 2 July 2020, the Supreme Court issued a decision against the tax authorities regarding statute of limitations period extension. On 25 November 2015, the tax authority started a tax inspection concerning the taxpayer’s corporate income
See MoreHungary defers MDR reporting deadlines for six months
On 14 July 2020, the Hungarian Government issued a new regulation, deferring the reporting deadlines by six months. The deadline for the reporting of arrangements in the period between 25 June 2018 and 30 June 2020 will be 28 February
See MoreUS and Switzerland sign competent authority arrangement on implementation of arbitration
On 28 July 2020, U.S. and Switzerland signed an agreement for the implementation of the arbitration process provided for in Article 25 (Mutual Agreement Procedure) of the 1996 income tax treaty between the two countries as amended by the 2009
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Kenya deposits MLI ratification instrument
On 22 July 2020, Kenya deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) with the OECD. The MLI will enter into force for
See MoreSouth Africa: SARS publishes a notice regarding submission of 2020 income tax returns
On 3 July 2020, the South African Revenue Service (SARS) published Notice 741 in terms of section 25 for submission of 2020 income tax returns for both legal entities and natural person. This notice provides information about eligible legal entity
See MoreNigeria: FIRS announces an extension for filing corporate tax return
On 31 July 2020, the Federal Inland Revenue Service (FIRS) made an announcement through Twitter regarding a week extension of deadline for the submission of corporate income tax return 2020 with a December year end. The new deadline is extended
See MoreOECD: Ninth round of Stage 1 Peer Review Reports on Dispute Resolution
On 27 July 2020 the OECD issued the ninth round of stage 1 peer review reports assessing efforts made by jurisdictions to implement the minimum standard in relation to dispute resolution mechanisms as set out in the report on BEPS Action 14. The
See MoreIndia: CBDT once again extends the income tax return filing deadline for FY 2018-19
On 29 July 2020, the Central Board of Direct Taxes of India has published a Notification No 56/2020 providing further extension of income tax return for AY 2019-20. The deadline for filing the annual return (ITR) for FY 2018-19 (AY 2019-20) has
See MoreOECD: Case Study on BEPS in the Mining Sector in Zambia
On 30 July 2020 the OECD published on its website a case study summarising assistance given to Zambia’s tax administration in relation to base erosion and profit shifting (BEPS) in the mining sector. The case study details how support was given
See MoreOECD and Brazil: Call for Input on Safe Harbours and Simplification Issues
On 30 July 2020 the OECD and Brazil jointly launched a survey looking for comments on the development of safe harbours and other simplification measures. OECD and Brazil The survey is part of a project begun in February 2018 to review the
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
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