Panama introduces CbC registration process via AEOI portal
The FATCA & AEOI Portal of Panama's Directorate General of Revenue (DGI) is now accepting registration for Country-by-Country (CbC) report presentation and notification purposes, as well as for FATCA and CRS purposes. The CbC reporting
See MoreDenmark publishes Law and Executive Order to implement DAC6 reporting requirement
On 27 December 2019 and on 31 December 2019 Denmark published Law and Executive Order, simultaneously, for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements (DAC6). This
See MoreIceland: MLI enters into force
On 1 January 2020, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Iceland. On 26 September 2019, Iceland deposited its instrument of ratification for
See MoreFrance: Finance Minister announces suspension of DST collection for a year
On 22 January 2020, the Finance Minister declared that French government has agreed to suspend collection of its digital services tax (DST) until December 2020.
See MoreFrance and the US agree deal on digital tax
Following talks with the US on taxation of digital companies France has agreed to stop delay collection of its planned digital tax, although the liability for the tax will still accrue. France is planning to impose a 3% digital services tax on
See MoreDominican Republic: DGII issues transfer pricing documentation thresholds for 2020
On January 15, 2020, Directorate General of Internal Revenue (DGII) published the Transfer pricing (TP) reporting threshold for 2020. The related party transaction threshold for transfer pricing reporting purposes in 2020 is DOP11,552,402. The
See MoreCanada: Reminder for the CbC reporting form submission process
On 9 January 2020, Government announced that as from 1st June 2020, Canadian ultimate parent entities that are corporations must file the RC4649 electronically using EFILE or Web Access Code (WAC). It will be available through CRA-T2-certified
See MoreIndia: CBDT issues notification to amend the rules for furnishing master file and CbCR
On 6 January 2020, India’s Central Board of Direct Taxes issued a notification amending the rules for maintenance and furnishing of information and document made by constituent entities of international groups. The amendments mainly clarifies the
See MoreColombia publishes a decree on tax return and TP documentation deadline
On 23 December 2019, Colombian tax authority (DIAN) has published Decree No. 2345 specifying the deadlines for filing and payment of the tax return (declaration) for 2020 and the deadline for transfer pricing (TP) documentation, including
See MoreItaly enacts digital services tax
The Italian Budget Law 2020 introduces a 3% unilateral ‘Digital Services Tax (DST)’ replacing the “Web Tax” and entered into force as of 1 January 2020. The Digital Services Tax (DST) rate is 3% and applies on the revenues from digital
See MoreIreland: President signs Finance Bill 2019 into Law
On 22 December 2019, President, Michael D. Higgins, signed the 2019 Finance bill into law. This Finance Act 2019 implements the taxation changes announced on Budget, including new transfer pricing legislation, introducing some necessary
See MoreMalta implements EU ATAD 2 hybrid mismatch provisions
On 24 December 2019, Malta has published Legal Notice 348 of 2019 implementing EU Anti-Tax Avoidance Directive (2017/952) (ATAD 2) into Malta domestic law. ATAD 2 amends the EU Directive 2016/1164 which applies to mismatches between EU member
See MoreRomania introduces draft bill to implement EU mandatory disclosure regime (DAC6)
On 9 January 2020, Ministry of Finance of Romania published a draft bill for the implementation of EU Directive on reportable cross-border tax planning arrangements. This includes measures to require the reporting of cross-border tax planning
See MoreChile: Chamber of Deputies approves ratification of BEPS MLI
On 9 January 2020, the Chamber of Deputies approved a Bill for the ratification of the multilateral convention to implement tax treaty related measures to prevent BEPS (MLI). The Chile now has to deposit its instrument of ratification in order to
See MoreEstonia publishes Tax Information Exchange Act to implement DAC6
Recently, Estonia has published Tax Information Exchange Act (Amendment) in the Official Gazette for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements
See MoreCroatia: Government publishes tax reform effective as from 1 January 2020
On December 11, 2019, the Croatian Government published Law in the Official Gazette to require taxpayers/ intermediaries to report information on certain tax arrangements. Some of the changes are given below: Corporate income tax/Profit
See MoreBelgium enacts amended interest deduction limitation rule
On 27 December 2019, a royal decree of 20 December 2019 published in Belgian official journal introduces several changes to the interest deduction limitation rule in the Income Tax Code, often referred to as the 30% earnings before interest, tax,
See MoreNigeria: President signs Finance Bill 2019 into Law
On 13 January 2020, the President, Muhammadu Buhari, signed the 2019 Finance bill into law. It was submitted alongside the 2020 budget to the National Assembly. The new law contains over 90 changes to 7 different tax laws. Corporate income
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