Russia announces tax measures amid COVID-19 pandemic
On 17 March 2020, the Ministry of Finance (MoF) of Russia announced several tax measures in response to the COVID-19 pandemic. The key tax measures are following: Extended tax payments deadline to 3 months for enterprises of tourism
See MorePortugal: Emergency tax measures amid COVID-19 outbreak
On 9 March 2020, the Government of Portugal issued Order no. 104/2020-XXII to introduce several tax measures in response to the COVID-19 pandemic. The key tax measures are following: Extended the deadline for first installment of special payment
See MoreAlgeria: Tax Agency extends the e-filing deadline of corporate tax return
On 21 March 2020, the General Directorate of Taxes made an announcement that the deadline of corporate income tax return for February through online is extended to 28 March 2020 by using Form
See MoreColombia: DIAN updates transfer pricing return and other forms
On 10 March 2020, Directorate of Taxes and National Customs (DIAN) of Colombia published Resolution No. 000019 updating the following form for filing a tax return: Informative transfer pricing return (Form No. 120);Income and withholding
See MoreDenmark: Reminder for transfer pricing documentation submission due date
According to the amended Danish Tax Control Act, companies are required to prepare their 2019 transfer pricing documentation and then submit this no later than 30 June 2020 with a financial year that follows the calendar year. On the other hand,
See MoreRomania: Emergency tax measures amid COVID-19 outbreak
On 16 March 2020, the Ministry of Finance (MoF) of Romania declared several measures in response to the COVID-19 pandemic. The annual income tax return submission deadline is extended from 25 March 2020 to 25 April 2020 and there will be no
See MoreOman: Tax authority introduces mandatory e-filing
On 10 March 2020, the tax authority of Oman announced that all taxpayers whose financial year ended on 31 December 2019, should submit their income tax returns and pay the due tax, if any, on the basis of specified forms as
See MoreCOVID-19: Lithuania extends tax-related compliance until 30 March 2020
The Lithuanian government and tax authorities announced certain tax-related relief measures in response to the coronavirus (COVID-19) pandemic. Regarding corporate income tax, the deadline for filing advance corporate income tax returns and
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 MorePortugal deposits MLI ratification instrument
On 28 February 2020, Portugal deposited its ratification instrument for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The MLI will enter into force for Portugal on 1 June
See MoreSerbia: Ministry of Finance publishes safe harbor interest rates for 2020
The Serbian ministry of finance has published the Rulebook on arm’s length interest rates that are applicable for 2020, which apply to interest rates on loans and credits between associated parties. The Rulebook was published in the Official
See MoreLatvia publishes a law for the implementation of DAC6
On 5 March 2020, the Latvian Official Gazette published the law implementing the directive on the mandatory automatic exchange of information in tax matters connecting to cross-border arrangements. Any cross-border arrangement that falls under
See MoreJamaica extends tax filing deadline due to COVID-19 pandemic
On 12 March 2020, Tax Administration Jamaica (TAJ) issued a press release extending the tax filing deadline due to COVID-19 pandemic. TAJ extends the income tax filing deadline from 15 March 2020 to Wednesday, 25 March 2020. This means that
See MoreHong Kong and Mainland China sign an agreement for the exchange of CbC reports
On 4 March 2020, the Inland Revenue Department (IRD) of Hong Kong announced that Mainland China and Hong Kong have entered into a bilateral arrangement for the automatic exchange of country-by-country (CbC) reports. Under this, Hong Kong entities
See MoreTransfer Pricing Brief: March 2020
ArgentinaDocumentation-Deadlines: On 29 February 2020, Government published General Resolution 4680/2020 of 28 February 2020 extending again the deadline for the submission of transfer pricing returns between 20 and 24 April 2020 for fiscal
See MoreChina extends tax filing deadline for March 2020
On 3 March 2020, the State Taxation Administration (SAT) of China issued Notice No. 37, that extended the tax filing deadline for March 2020, to 23 March 2020 from 16 March 2020, nationwide. The regions where are still in the top-level response to
See MoreLatvia: MLI enters into force
On 28 February 2020, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for
See MoreIceland: The Ministry of Finance and Economy presents a draft law on TPD penalties to Parliament
On 18 February 2020, the Ministry of Finance and Economy submitted a draft bill to the parliament regarding new penalties for failing to comply with transfer pricing documentation requirements. The draft law also includes an amendment to clarify
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