Israel extends tax return submission deadline for the 2020 tax year
On 7 April 2021, the tax authority of Israel declared the extended deadline for submitting annual income tax returns in response to the Covid-19 pandemic. The declaration includes that the deadline is extended to 30 June 2021 for submitting annual
See MoreIMF and World Bank: Discussion of Digital Services Tax
On 13 April 2021 the IMF and World Bank tax conference on Minimum and Digital Taxation: Consensus or Divide discussed aspects of unilateral digital service taxes. The discussions covered the scope of the taxes, tax treaty issues and challenges for
See MoreSpain gazettes decree amending regulation on DAC6 reporting
On 7 April 2021, the Spanish Official Gazette published the Royal Decree No. 243/2021, amending the general regulation on the mandatory automatic exchange of financial account information (AEOI) in relation to reportable cross-border arrangements
See MoreKenya: Tax Appeal Tribunal issues rule on a case of management fees
On 1 April 2021, the Kenyan Tax Appeals Tribunal (TAT) ruled on tax disputes between McKinsey and Company Inc. Africa Limited (McKinsey / the Appellant) and the Kenya Revenue Authority (KRA / the respondent) in relation to withholding tax (WHT) on
See MoreGermany: Ministry of Finance releases DAC6 reporting guidelines
On 29 March 2021, the German Ministry of Finance has published the final decree regarding the application of the mandatory disclosure rules relating to certain cross-border tax arrangements as per Council Directive (EU) 2018/822 of 25 May 2018.
See MorePoland: MOF publishes tax explanations on transfer pricing adjustment
On 2 April 2021, the Polish Ministry of Finance has published tax clarifications on transfer pricing regarding the adjustment of transfer prices within the meaning of Art. 11e of the CIT Act (Article 23q of the PIT Act), in relation to the
See MoreDenmark: MOF withdraws its litigation in significant transfer pricing cases
12 April 2021 On 25 March 2021, the Danish Ministry of Taxation has dismissed a case: SKM2018.511.LSR due to expectations that the company would succeed the case. The Ministry’s message that it admits defeat and will refrain from spending
See MorePanama further extends tax return submission deadline for 2020 tax year
According to Decree No. 110 of 31 March 2021, Panama's Ministry of Economy and Finance has extended the deadline for the submission of income tax returns to 17 May 2021 for the 2020 tax year, which follows a previous extension to 3 May 2021. In
See MoreChile: Avery Dennison wins Chile transfer pricing dispute
On 31 March 2021, the Tax Tribunal issued its decision in one case of: Chile v Avery Dennison Chile S.A. , relating to the appropriateness of the inter-company loan interest rates of Avery Dennis and the price of the goods sold to the company by
See MoreJapan enacts tax reform bill 2021
On 26 March 2021, Japan’s 2021 tax reform bills were passed by the Japanese National Diet. The Bill generally follows the tax reform outline announced by Japan’s coalition leading parties in December 2020. The amendments generally apply to
See MoreTurkey intends increase in CIT rate for the tax year 2021 and 2022
On 2 April 2021, the Turkish Government submitted a Draft Law to the Turkish Parliament. Through the Draft Law, Turkey intends to increase the corporate income tax (CIT) rate for the tax years 2021 and 2022. The proposed tax rate is 25% for 2021
See MoreGermany: BEPS MLI enters into force
On 16 March 2021, 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 MoreIndonesia: DGT updates XML schema for CbC reporting
On 4 March 2021, the Indonesian Directorate General of Taxation (DGT) updated the XML schema (version 2.0) for country-by-country reports (CbCR). The update includes the new XSD schema; a procedure for creating XML files; and technical guidance
See MoreCyprus gazettes the law to implement mandatory disclosure rules
On 31 March 2021, the Cyprus official gazette published the law (Ν. 41(Ι)/2021, the Law) amending the Law on Administrative Cooperation in the field of Taxation (Law N. 205(I)/2012). The Law transposed the EU Council Directive 2011/16 referred to
See MoreTransfer Pricing Brief: April 2021
ChileCompliance with BEPS standards: On 1 March 2021, 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
See MoreExtension of tax compliance due dates amid COVID-19 pandemic
CountryCompliance IssueDue dateExtended Related NewsAustriaCIT payment31-Mar-2130-Jun-21See MoreBelgiumCIT Return30-Jun-2128-Oct-21See MoreBulgariaCIT Return31-Mar-2130-Jun-21See MoreCroatiaCIT Return30-Apr-2130-Jun-21See MoreJapanCIT
See MoreOECD: Request for input on proposed changes to commentary on Article 9 of OECD Model
On 29 March 2021 the OECD issued a public discussion draft on proposed changes to the commentary to Article 9 (associated enterprises) of the OECD Model Tax Convention. The amendments are to be included in the next update of the OECD
See MoreGreece deposits BEPS MLI ratification instrument
On 30 March 2021, the OECD announced that Greece has 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
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