The global outbreak of COVID-19 is significantly affecting businesses, government revenues, and individuals with long-term impacts on domestic and global economies. As a result, many governments around the world have announced fiscal and monetary interventions to assist recovery. In these unusual times, Regfollower has decided to provide a ready reference tool to update users about the tax measures during the Coronavirus crisis and its aftermath.
| Country | Date of announcement | Corporate/business tax | Transfer pricing | Individual tax | Indirect tax | Details |
| Australia | 18-Nov-21 | CbC reporting entities that have a CbC reporting obligation due by 31 December 2021 will now have until 4 February 2022 to file (lodge) such CbC reporting statements. | See details | |||
| Austria | 20-Jun-22 | The Ministry of Finance published a Circular (no. 2022-0.433.029 of 17 June 2022) clarifying various tax treaty issues that have arisen due to the COVID-19 pandemic, including permanent establishments(PE) and the application of the arm’s length principle. | See details | |||
| Chile | 2-Sep-20 | The CIT rate is temporarily reduced to 10% for SMEs, for the fiscal years 2020, 2021 and 2022. | The mandatory issuance of the electronic ledger of purchase and sales is deferred to 1 January 2021. | A full VAT refund on the balance of wholesale VAT credits accumulated according to VAT returns submitted in July, August and September 2020. | See details | |
| Colombia | 29-Oct-21 | DIAN has temporarily reduced penalties to 20% and a default interest rate of 20% of the current bank interest rate. | See details | |||
| Colombia | 4-Jun-21 | The corporate income tax payment of micro and small companies has been extended between 9 November and 23 November 2021. | See details | |||
| Ecuador | 29-Jul-21 | The SRI extends the suspension of the periods and terms of all tax administrative processes and the limitation periods of the collection action, whose attention, processing, and/or exercise corresponds to the administrative units of the Internal Revenue Service located in the Province of El Oro, until 27 August 2021. | See details | |||
| France | 22-Sep-21 | Government proposes VAT exemption on imports and supplies to EU bodies. | See details | |||
| Germany | 3-Feb-22 | The German Ministry of Finance has introduced a bill that provides further measures to support taxpayers during the COVID-19 pandemic. | See details | |||
| India | 25-Jun-21 | India further extends the deadlines of tax compliances due to COVID-19. | See details | |||
| Ireland | 21-Sep-22 | The Irish Revenue temporary changes PPA during COVID-19 and the recovery period. | See details | |||
| Korea, Rep Of | 26-Jul-21 | MOEF proposes Tax Revision Bill 2021 which allowed loss-making businesses in comparable transactions depending on the current economic circumstances of the COVID-19 pandemic. | See details | |||
| Netherlands | 10-Mar-22 | The Dutch government has published a notice declaring the key support measures implemented and subsequently extended in response to the Covid-19 pandemic will end with effect from 1 April 2022. | See details | |||
| Netherlands | 21-Dec | The Netherlands declares tax payment extension and repayments. | See details | |||
| Netherlands | 29-Jun-21 | The Netherlands extends the tax payment deadline on request. | See details | |||
| New Zealand | 26-Aug-22 | New Zealand’s Inland (IR) issued research and development (R&D) tax incentive updates due to the ongoing COVID-19 pandemic. | See details | |||
| Nigeria | 7-Dec-21 | Nigeria introduces an election by taxpayers in respect of the reduced minimum tax rate of 0.25% available. | See details | |||
| Poland | 24-Jun-21 | Extends transfer pricing documentation preparation deadline as follows (a) until 31 December 2020 for taxpayers for whom the deadline was scheduled to expire between 31 March 2020 and 30 September 2020. (b) by three months for periods ending between 1 October 2020 and 31 January 2021. | See details | |||
| Portugal | 15-Jun-21 | The annual corporate tax return (Modelo 22) submission and respective payment deadline for the 2020 tax period is extended to 16 July 2021. | The deadline for the preparation of transfer pricing (TP) documentation (and submission if required) is extended to 22 July 2021 (usually by 15 July). | See details | ||
| Puerto Rico | 20-Sep-21 | Puerto Rico extends the due date to 22 November 2021 for filing annual corporate reports for 2020. | See details | |||
| Thailand | 21-Dec-21 | Thailand extends certain tax incentives. | See details | |||
| Tiwan | Aug-22 | MOF exempts provisional income tax payments from January to June 2022 for companies affected by the COVID-19 pandemic. | See details | |||
| Taiwan | 9-May-22 | The Ministry of Finance of Taiwan has announced that net profit rate is reduced for companies affected by the COVID-19 pandemic. | See details | |||
| Thailand | 21-Aug-21 | Thailand extends electronic filing CIT return to 23 September 2021. The half-year corporate income tax return (PND. 51) for 2021 is extended to 23 September 2021. | The transfer pricing (TP) disclosure form is extended to 23 September 2021. | See details | ||
| Ukraine | 20-Aug-21 | By Order № 478, Ukraine clarifies the temporary suspension of deadlines that have been provided for taxpayers to respond to requests from the tax authority during the COVID-19 period, which will apply up to the last calendar day of the month in which the quarantine ends. | See details | |||
| US | 24-Aug-22 | IRS provides broad-based penalty relief for certain 2019 and 2020 returns. | See details |
