Puerto Rico: Guidance on due dates extension for specific tax return and payment obligations
Treasury Department (PRTD) has published a guide Information Bulletin 17-17 on Circular Letter (CL) 17-13, which has deferred the due dates for particular tax returns and payment accountabilities due to the exceptional circumstances stated by the
See MoreVenezuela: New reduced VAT rate for electronic purchases
The National Integrated Service of Customs and Tax Administration (SENIAT) declared that as of September 27, 2017, the standard value added tax (VAT) rate in case of electronic purchases will be reduced by 3% or 5%. In the General Assembly of
See MoreMexico presented budget proposal and tax reform for 2018
The Minister of Finance submitted the budget for 2018 to the Congress for its approval on 8th September 2017. The Proposed Budget includes the Federal Revenue Law (Revenue Law), General Economic Policy Guidelines and the Federal Spending Budget
See MoreColombia issues draft decree on transfer pricing regulations
The Ministry of Finance and Public Credit of Colombia issued a draft decree 1625 of 2016 concerning transfer pricing documentation for public consultation on 11 August 2017. The major issues in the proposed decree are business restructuring rules,
See MoreEcuador updates withholding tax rates
On 24 August 2017, the Internal Revenue Service (IRS) of Ecuador issued Resolution No. NAC-DGERCGC17-00000440 to amend previous Regulation N° NAC-DGERCGC14-00000787 for establishing the income tax withholding rates with effect from 22 August
See MoreUAE: DTA ratifies with Argentina
The United Arab Emirates (UAE) ratified the Double Taxation Agreement (DTA) with Argentina on August 23, 2017, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreDTA between Uruguay and Paraguay signed
On 8 September 2017, the Double Taxation Agreement (DTA) between Uruguay and Paraguay was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in
See MoreGuatemala: Extension of short-term fine, interest and penalty relief for outstanding tax obligations
The tax authority of Guatemala has extended its fine, interest, and penalty relief program for outstanding tax obligations by one month that is to 19 September 2017. Taxpayers who will fulfill their outstanding tax obligations during the one-month
See MoreColombia updates interest rate for late payment
The Financial Supervisory Authority of Colombia published a Regulation 1155 of 2017 concerning the effective monthly interest rate for late payment of income taxes, on 30 August 2017. Late payment of income taxes is subject to 30.22% interest rate
See MoreCosta Rica : MoF increases the interest rate for late payments and refunds
The Ministry of Finance (MoF) has increased the interest rate for late advance tax payments and refunds of overpayments from 11.73% to 12.8%. The rate is effective from 1 October
See MoreUnited States: ADD/CVD Roundup for August 2017
Following table shows the Federal Register notices related to ADD/CVD cases for August 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Preliminary Affirmative Countervailing Duty Determination and
See MorePGA Highlights: August 2017
In the United States the following events have taken place under the several PGA during the month of August 2017. Agencies Summary Federal Register Extension of test program on Electronic Foreign Trade Zone: This document declares U.S. Customs
See MoreMexico announces incentives for special economic zones
On 10 February 2017, the Ministry of Finance announced the creation of special economic zones (ZEEs). Legal entities and individuals with entrepreneurial activities in a ZEE would enjoy an income tax exemption during a 10-year period and a 50%
See MoreBrazil announces a strategy to simplify tax complex control system
Brazil’s Inland Revenue provided four fiscal simplification measures aimed at reducing costs for businesses and enhancing the business environment of the country on 7th August 2017 at a meeting and those are given below: Improving the
See MoreUnited States: ADD/CVD Roundup for July 2017
Following table shows the Federal Register notices related to ADD/CVD cases for July 2017 in United States. Country Product Investigations Case Number Details Belgium Citric Acid and Certain Citrate Salts Determinations A-423-813 See the
See MorePGA Highlights: July 2017
In the United States the following events have taken place under the several PGA during the month of July 2017. Agencies Summary Federal Register Upcoming public hearing on 2016/2017 GSP review: The GSP Subcommittee of the Trade Policy Staff
See MoreUnited States: ADD/CVD Roundup for June 2017
Following table shows the Federal Register notices related to ADD/CVD cases for June 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Postponement of Preliminary Determinations of Countervailing Duty
See MorePGA Highlights: June 2017
In the United States the following events have taken place under the several PGA during the month of June 2017. Agencies Summary Federal Register Effective date for the ACE system as the the sole CBP-authorized EDI system: The U.S. Customs
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