Peru: Tax administration clarifies the exchange rate applicable to capital gains arising from the transfer of shares
On 3 November 2017, the tax Administration in Peru issued report no. 039-2017-SUNAT/7T0000, clarifying the exchange rate applicable to capital gains arising from the transfer of shares. The report refers to a transaction as part of which a
See MoreBrazil: Government sanctioned guidance regarding new tax incentives for automotive sector
On 5th July 2018 government sanctioned guidance (Provisional Measure 843/18 (PM 843)) that initiates a new tax incentive program for the automotive sector. According to the program the following main tax incentives for a five-year period, which may
See MoreColombia: New resolution for CbC reporting
On 21 June 2018, the Colombian National Tax Authority (DIAN) issued a draft resolution concerning the obligation to notify country-by-country (CbC) reporting responsibilities. Resident taxpayers are required to file informative transfer pricing
See MorePGA Highlights: July 2018
In the United States the following events have taken place under the several PGA during the month of June 2018. Agencies Summary Federal Register Correction in advance notification of sunset review: This notice serves to correct the July 2018
See MoreUnited States: ADD/CVD Roundup for July 2018
Following table shows the Federal Register notices related to ADD/CVD cases for June 2018 in United States. Country Product Investigations Case Number Details Argentina Lemon Juice Suspended Investigation A-822-804 See the Federal Register
See MorePeru: President authorizes to sign the MLI
On 21 June 2018, the President of Peru authorized the Minister of Economy and Finance to sign the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting. On 7 December 2016, Peru became a member
See MoreUS: Central bank increases interest rates
On 13 June 2018, the Federal Reserve raised interest rates by 0.25% to new interest rates of 1.75% -2%. Two additional interest rises are expected by the end of 2018. Forecasts released after the US Federal Reserve's two-day meeting in Washington
See MoreUS: IRS publishes interest rate for the third quarter of 2018
On 8 June 2018, The Internal Revenue Service announced interest rate for the third quarter of 2018 that will remain as they were in the quarter that began on 1 April 2018. The rates that will begin from 1 July 2018 are as follows: 5 percent for
See MoreCanada: Budget Implementation Act, 2018, No. 1 receives Royal Assent
The Finance Minister, Bill Morneau, welcomed Royal Assent of the Budget Implementation Act, 2018, No. 1, which implements a number of important measures announced in Budget 2018. The Budget Implementation Act, 2018, No. 1 received Royal Assent on
See MoreChile: Reminder about the due date of submitting Sworn Statement of Income
The Internal Revenue Service (SII) gives a reminder to taxpayers of the due date of five Affidavit of Income. These are Forms No. 1929, 1930, 1907, 1937 and 1945, which are explained below: Sworn declaration Expiration date Form No. 1907 on
See MoreUruguay: Parliament passes a bill on the Multilateral Instrument (MLI)
4 June 2018, the Uruguayan parliament passed the Bill for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Uruguay signed the MLI on 7 June 2017. The MLI will
See MoreEcuador announces new tax incentives
The National Assembly of Ecuador issues a draft bill with number of following new tax incentives: 8-year tax exemption for investments in Quito and Guayaquil; 10-year tax exemption for investments in priority activities outside of Quito and
See MoreBrazil: Maximum tax refund reduces for exporting companies
Brazil has published Decree No. 9.393 of 30th May 2018 in the Official Gazette, which amends Decree No. 8,415, of February 27, 2015, which regulates the application of the special regime for the Reintegration of tax values for exporting
See MoreBrazilian government adopted several measures regarding incentive in certain sectors
Brazil has published Law 13.670 of 30 May 2018, which was enacted to reduce the number of activities of companies that may continue calculating the social security contributions upon gross revenues of services and/or products. The law includes a
See MoreChile: Tax authority publishes a Circular regarding transitional relief
The tax authority (SII) has released Circular No. 31 of 23 May 2018. It assures the transition relief provided regarding dividends paid by taxpayers under the partially integrated regime (PIS). The tax authority has also published Ordinance 470 and
See MoreCanada: Minister tables Notice of Ways and Means Motion to implement BEPS MLI
The Finance Minister, Bill Morneau, tabled a Notice of Ways and Means Motion in the House of Commons on May 28, 2018, for formalizing the Government's intention to introduce legislation that would enact the Multilateral Convention to Implement Tax
See MoreArgentina: Government publishes General Resolution 4245/2018
On 16 May 2018, Argentina has published a General Resolution (4245/2018 of 15 May 2018) on their official website. The Resolution 4245 modifies the General Resolution 830/2000, which introduced income tax withholding on particular payments made
See MoreUnited States: ADD/CVD Roundup for June 2018
Following table shows the Federal Register notices related to ADD/CVD cases for May 2018 in United States. Country Product Investigations Case Number Details Austria Carbon and Alloy Steel Cut-To-Length Plate Antidumping Duty Order; Opportunity
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