Ecuador: President announces tax relief measures during COVID-19 pandemic
On 27 March 2020, the President announced a series of measures due to coronavirus outbreak. The key measures are given below: Payment of corporate income tax for fiscal year 2019 for the months of April, May, and June 2020 can be deferred and
See MoreUS: IRS extends federal income tax filing deadline from 15 April to 15 July 2020
On 21 March 2020, the Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments
See MoreArgentina: Government provides tax relief for companies during COVID-19
On 20 March 2020, the Government Officially published Decree 300/2020 to implement some tax relief measures for companies due to coronavirus outbreak. Under the Decree, a 59% reduction of the bank credit tax and a 17% reduction of the bank debt tax
See MoreCOVID-19: Costa Rica eliminates partial payments of corporate income tax
On 20 March 2020, the National Assembly approved a bill to address the fiscal impact of coronavirus (COVID-19) in Costa Rica. Under the bill, taxpayers would not be required to make advance payments of income tax during the months of April, May,
See MoreBolivia: Government issues guide to provide tax relief during coronavirus pandemic
On 18 March 2020, the Government issued Supreme Decree No. 4198 for providing tax relief during the COVID-19 outbreak. The measures include the following: The due date for corporate tax payment for the year ending 31 December 2019 is to be
See MoreChile: President announces tax measures due to COVID-19
On 19 March 2020, the President, Sebastián Piñera, announced tax measures due to the economic impact of the global Covid-19 pandemic. The tax measures include: The monthly provisional payments of corporate income tax is to be suspended for the
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 MoreDominican Republic: Tax Authority implements tax reliefs due to coronavirus outbreak
On 23 March 2020, the Tax Authority (DGII) implemented tax measures for providing tax relief during the COVID-19 outbreak. This includes: Due date for submitting and paying obligations regarding income tax and the simplified tax regime is to be
See MoreColombia extends tax filing deadlines due to COVID-19 outbreak
On 13 March 2020, the Colombian Ministry of Finance and Public Credit has published Decree 401 by extending a number of tax filing and payment deadlines due to COVID-19 outbreak. Among the main provisions of the Decree are: The deadlines for the
See MorePeru extends tax filing deadlines due to COVID-19 outbreak
On 16 March 2020, the Peruvian Tax Administration (SUNAT) has issued Resolution 055-2020/SUNAT on its website regarding tax measures due to COVID-19 outbreak. Through the Resolution, SUNAT has extended the annual income tax filing and payment
See MoreVenezuela: Government publishes a Resolution regarding the increase in tax value unit
On 13 March 2020, the government was published the Resolution SNAT/2020/00006 regarding the increase in tax value unit (TU) in the Official Gazette. In this Resolution, Venezuela has increased the tax unit from VES 50 to VES 1,500. The tax unit
See MoreBrazil: Senate approves Decree amid COVID-19 pandemic
On 20 March 2020, the Senate approved a presidential decree declaring a national emergency over the coronavirus epidemic. According to that Decree, the federal taxes payments for companies under the Small Companies Tax Regime (Simples Nacional) are
See MorePuerto Rico extends tax filing deadlines due to COVID-19 outbreak
On 15 March 2020, Governor of Puerto Rico has issued Executive Order No OE-2020-023 ordering a lockdown in Puerto Rico. Pursuant to, Puerto Rico Treasury Department (PRTD) extended tax filing deadlines. PRTD has extended the due date for income
See MoreEcuador: Internal Revenue publishes rules on dividend withholding tax
On 20 February 2020, the Internal Revenue Service published a Resolution NAC-DGERCGC20-00000013 of 20 February 2020 regarding rules of how to distribute the dividend withholding tax (WHT) by a resident company or a permanent establishment in
See MoreCanada: Prime Minister announces a Plan to provide support for businesses during COVID-19 pandemic
On 13 March 2020, the Finance Minister, Bill Morneau, announced COVID-19 Economic Response Plan to help stabilize the economy and help Canadians affected by the impacts of the COVID-19 pandemic period. To support Canadian businesses during this
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 MoreArgentina: Government publishes General Resolution regarding TP returns deadline delay
On 29 February 2020, Government published General Resolution 4680/2020 of 28 February 2020 regarding the delayed due dates of submitting transfer pricing (TP) return in the Official Gazette. The filing deadline for the TP return forms (i.e. Form F.
See MoreBrazil: Federal Revenue encourages taxpayers to make comments on CbC reporting
On 13 February 2020, the Department of Federal Revenue encouraged the taxpayers or multinational enterprises to give comments regarding country-by-country (CbC) reports for public consultation documents arranged by the OECD up to 6 March 2020. This
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