COVID-19: Finland extends the deadline for corporate tax returns by one month
On 9 April 2020, the Finnish tax administration announced an extension of filing deadline for corporate tax returns by one month due to coronavirus outbreak. Corporate entities and benefits under joint administration whose accounting period ended
See MoreCOVID-19: US IRS extends additional key tax deadlines for certain individuals and businesses
On 9 April 2020, the Department of Treasury and the Internal Revenue Service published a notice that extends additional key tax deadlines for individuals and businesses. In March 2020, the IRS announced that taxpayers generally have until July
See MoreCanada: The CRA cancels Circular IC 87- 2R regarding guidance for applying TP rules
The Canada Revenue Agency (CRA) has cancelled the Circular IC 87- 2R as from 30 December 2019, because it is inconsistent with the interpretation and application of Canadian transfer pricing legislation and does not reflect updates to the OECD
See MoreBrazil: Latest status of tax relief measures in response to COVID-19 pandemic
On 3 April 2020, the Government published Resolution No. 154 of 3 April 2020 in the Official Gazette, which extends the payments deadlines for taxes and social security contributions for taxpayers under the Simples Nacional regime due to
See MoreColombia: Additional tax deadline extensions due to COVID-19 pandemic
On 6 April 2020, Colombia has published Decree 520 regarding the dates for the presentation and payment of the income tax declaration and complementary tax year 2019, of large taxpayers and legal entities, as well as the dates for the
See MoreCOVID-19: Malaysia extends deadline for filing CbC report and notification
On 10 April 2020, the Inland Revenue Board of Malaysia (IRBM) published an updated FAQ document related to the tax management issue in response to COVID-19 pandemic that includes the extension of the deadline for submitting country-by-country (CbC)
See MoreOECD: Seven peer review reports on BEPS Action 14 published
On 9 April 2020 the OECD published a further batch of reports in relation to stage 2 of the peer reviews of the implementation of Action 14 of the action plan on base erosion and profit shifting (BEPS). The minimum standard under BEPS action 14
See MoreMalta: Parliament enacts the Budget Measures Implementation Act 2020
On 20 March 2020, the Maltese Parliament has enacted the Budget Measures Implementation Act 2020. Through the enactment of this legislation, amendments were made to the Income Tax Act (ITA), Value Added Tax Act (VATA), Income Tax Management Act
See MoreNew Zealand: Inland Revenue announced relief regarding APA during COVID-19
The New Zealand’s Inland Revenue (IR) has announced relief regarding advance pricing agreement (APA) during the COVID-19 outbreak. Inland Revenue has assured that customers do not need to take any specific action now to ensure that their
See MoreSlovenia: Tax measures due to COVID 19 pandemic
On 2 April 2020, The Slovenian Parliament has approved an Act as a consequence of the epidemic of an infectious disease COVID-19. The Act contains several tax measures to mitigate the financial impact of the present circumstance. The main tax
See MoreDenmark: Ministry of Taxation extends all filing deadlines, including transfer pricing documentation
On 31 March 2020, the Ministry of Taxation announced that all the deadlines of tax filing for the 2019 income year and transfer pricing documentation is postponed until 1 September 2020. Employees with an annual tax assessment due date of 1 May
See MoreSlovenia: Financial Administration publishes new guidance on DAC6
On 2 April 2020, the Slovenian Financial Administration published new guidance on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The guidelines describe the scope of the reporting obligations, including the hallmarks
See MoreThailand extends tax returns filing deadlines in response to COVID-19 pandemic
The Ministry of Finance of Thailand has launched three Notifications to extend filing tax returns and submitting payments according to the Cabinet Resolution on 24 March 2020. This is to help people and entrepreneurs to increase liquidity referring
See MorePanama extends suspension of administrative appeals proceedings amid COVID-19 pandemic
The tax authority of Panama published Resolution No. 201-2353 of 2020, amending Resolution No. 201- 2270 of 2020 to extend the suspension of administrative appeals proceedings until the emergency is lifted due to the COVID-19 outbreak. Previously
See MoreCOVID-19: Indonesia publishes further guidance in response to coronavirus outbreak
On 31 March 2020, Indonesia President signed the Government Regulation No. 1 for 2020 (PERPPU-1) in handling COVID-19 outbreak. The regulation includes the following tax measures. The CIT rate is reduced from 25% to 22% for tax years 2020
See MoreAzerbaijan: Tax measures due to COVID-19 outbreak
On 29 March 2020, the Azerbaijan Ministry of Economy issues press release clarifying deadlines for submission of tax returns and other measures due to COVID-19 outbreak. According to a decree of 25 March 2020, the period from 29 March to 3 April
See MoreArgentina: Government announces further extension of transfer pricing return deadline (COVID-19)
On 31 March 2020, the Government officially published General Resolution 4689/2020 of 30 March 2020, which provides a further extension of the extended timeline to transfer pricing filing returns forms (Form 741, Form 743, Form 867 and Form 4501)
See MoreOman ratifies multilateral instrument
On 31 March 2020, the Sultan of Oman issued the royal decree for the ratification of the multilateral convention for the implementation of the double taxation agreement (DTA) related measures to prevent base erosion and profit shifting (MLI). Now
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