DTA protocol between Brazil and Canada confirm WHT rate on technical services
A Private Ruling 5/2017 (Solução de Consulta 5/2017) has been published in the Official Gazette on 18th January 2016. This ruling confirms that payments made by Brazilian sources to individual or companies resident in Canada for technical
See MoreColombia: Tax reform summary 2016
According to law 1819 of 2016, adopting the structural tax reform bill approved on 23 December 2016. It introduces the following major changes to the corporate income tax regime: Income tax rates As from tax year 2019, a single income tax rate of
See MoreMexico: Miscellaneous Tax Resolution (Annex 16) for 2017 published
Annex 16 to the Miscellaneous Tax Resolution for 2017 has been published in the Official Gazette on 16th January 2017. This Resolution contains the guidelines to complete and present the Statutory Tax Audit Report of
See MoreUS: FATCA agreement signed with Greece
An intergovernmental agreement between Greece and the United States was signed on 19th January 2017 to improve international tax compliance with respect to the US Foreign Account Tax Compliance Act
See MorePuerto Rico proposes transfer pricing rules
The Department of Treasury has released proposed regulations on 19 November 2016 regarding section 1040.09 of the Puerto Rico Internal Revenue Code of 2011. The proposal highlights US transfer pricing rules and guidelines from the Organization for
See MoreMexico: Miscellaneous Tax Resolution (Annex 15) for 2017 published
Annex 15 to the Miscellaneous Tax Resolution for 2017 has been published in the Official Gazette on 12th January 2017 regarding new automobile tax tariffs for
See MoreItaly-Senate approves Income Tax Treaty with Barbados
The Income Tax Treaty between Italy and Barbados was approved by the Italian Senate on 12 January 2017. The treaty was signed on 24 August
See MoreUAE: DTA signed with Paraguay
An Income Tax Treaty between United Arab Emirates (UAE) and Paraguay was signed on 16th January 2017 in Abu Dhabi for avoiding double
See MoreBolivia publishes budget for 2017
The General Budget for 2017 was published in the Official Gazette on 28 November 2016. The Budget exempts from corporate income tax interest paid to creditors of public debt issued by security titles at foreign capital markets; and installments made
See MoreColombia introduces new turnover tax withholding requirements
According to regulation DDI-052377-2016 of Bogota's Tax Administration a new turnover tax withholding requirements has launched and it effective as from first January 2017. The new regulation provides the entities that have to act as turnover tax
See MoreColombia introduces special self-withholdings
According to Decree 2201-2016, Colombia has introduced additional special self-withholdings which are applicable as of first January 2017. It will replace the CREE self-withholdings that were abrogated under the most recent tax reform. In article 2
See MoreChief prosecutor: Colombia’s tax reform fails to tackle tax evasion
On 2 January 2017, the chief prosecutor of Colombia slammed a tax reform claiming the latest tax system is unsuccessful to tackle the mass tax evasion. Mr. Nestor Humberto Martinez, the Prosecutor General sent a letter to the Minister for
See MoreCosta Rica: Supreme Court issues base salary for 2017
The Supreme Court of Justice released Circular No.230-2016 on 10 January 2017 regarding base salary for 2017. According to the Circular, with effect from 1 January 2017 the base salary is CRC 426,200. The base salary is applicable to compute certain
See MoreCosta Rica: Legislative Assembly approves corporate flat tax
The National Legislative Assembly on 9 January 2017, approved the Bill no 19818 to retain the registration flat tax on companies. According to Bill, companies, as well as any branch of a company which are registered in the Register of Legal
See MoreTIEA between Costa Rica and Italy ratified
The Tax Exchange Information Agreement (TIEA) between Costa Rica and Italy has been ratified on 14th January 2017 by the Italian Council of Ministers through a draft law. It was signed on 27th May
See MoreUS: Trump comments on import tariffs
President-elect Donald Trump has repeated his intention to raise import tariffs on US multinational companies that move their production abroad and then sell products back into the United States. He has given his opinion during a press conference on
See MoreColombia introduced dividend tax
According to law 1819 of 2016, Colombia introduced a dividend tax on profits derived as of 1 January 2017, summary as follows: (i) Taxable dividends are subject to 35% final withholding tax and 5% final withholding tax may apply on non-taxable
See MoreDominican Republic: Tax Authorities publishes new request forms for all tax-related procedures
The tax authority (DGII) of the Dominican Republic has recently published on its website, a set of new forms that taxpayers are to use for most tax-related procedures. The new forms exchange the prior letter request format used by taxpayers seeking
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