Egypt preparing draft for new income tax law

February 13, 2024

Egypt’s Minister of Finance for Tax Policy and Reforms has announced plans to draft a new iteration of the Income Tax Law. The details of the new law has been fully published, but the main proposals of the new law include: A focus on

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Ireland: Irish revenue publishes guidance on VAT return of trading details

January 18, 2024

On 16 January 2024, the Irish Revenue published eBrief No. 024/24 concerning a new Tax and Duty Manual that offers guidance about the annual VAT Return of Trading Details. This guide will provide assistance to filers submitting the annual VAT Return

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Chile: Government publishes Law regarding new COVID-19 tax incentives package

September 10, 2020

On 2 September 2020, Government Officially published Law 21.256 regarding new COVID-19 tax incentive packages for those who are badly affected by coronavirus pandemic. Previously, on 18 August 2020, the Senate approved this Bill. The measures

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Mexico modifies the General Customs Rules for 2020

August 12, 2020

On 24 July 2020, Mexico has published the first amendment to the General Customs Rules for 2020 in the Official Gazette. The amendments include changes to the Comprehensive Business Certification Scheme, in the VAT, VAT Certification and Authorized

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Romania: Emergency tax measures amid COVID-19 outbreak

March 22, 2020

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

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Russia: The Lower House of Parliament Approves Bill Amending Tax Administration

July 20, 2018

On 18 July 2018, the Russian lower house of parliament adopted the Bill No. 249505-7 on improving tax administration in the third and final reading. The Bill includes following measures: Eliminate transfer pricing control (audit) for domestic

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Kazakhstan: Tax Law Reforms for the year 2018

January 24, 2018

The Kazakh President, signed a series of laws on 25 December 2017 regarding taxes and other mandatory payments, introduction of tax code, law on amendments to other Acts etc. Most provisions of the new tax code and the tax amendments effects from 1

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Argentina: New extension regarding VAT refunds rejects

February 02, 2017

A new extension of the VAT refund for purchases paid with debit cards has been rejected by the Executive Power and it was established by Decrees 1387/2001, 1402/2001 and 1548/2001. In accordance with Resolution 153/2016, the Ministry of Economic

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World Bank issues 2017 report on ease of doing business

October 29, 2016

On 25 October 2016 the World Bank issued the 2017 issue of the annual report on ease of doing business entitled Doing Business 2017: Equal Opportunity for All. According to the report 137 jurisdictions carried out important reforms in the past year

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Mexico: Presented Further Maquila VAT Refunds

June 04, 2014

The finance minister of Mexico has introduced a 16% VAT on imports through maquila and it will start from 1 July 2014 and government expected it will providing quick VAT refund on import in the Mexico through a 100% tax credit. The government

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Ukraine – VAT bonds introduced by the parliament

March 31, 2014

Ukraine has passed a new measure to clarify the procedure for obtaining VAT refunds through VAT bonds (Law No 4575). The new law clarifies that VAT bonds will cover refunds claimed before 1 January 2014 but these bonds are only available in respect

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Spain – Refund opportunity for retail sales tax on hydrocarbons

March 16, 2014

The Court of Justice for the European Union (CJEU) in late February 2014 issued a judgment, finding that Spain’s tax on retail sales of certain hydrocarbons is contrary to EU law. The CJEU rejected a request of the Spanish tax authorities that

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UK: Consultation on the VAT treatment of refunds by manufacturers

June 04, 2013

The UK issued a consultation paper on 31 May 2013 in respect of the value added tax (VAT) treatment of refunds paid directly by manufacturers to consumers. The current UK VAT law permits a business that is in a direct relationship with a customer to

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Canada – Tax-related interest rates for 2014

May 22, 2013

It was announced by the Canada Revenue Agency (CRA) that tax-related interest rates for taxable credits and for tax overpayment and underpayments for the third quarter of 2013 (July 1- September 30) will remain unchanged for this year and the rates

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