PGA Highlights: August 2016
In the United States the following events have taken place under the several PGA during the month of August 2016. Agencies Summary Federal Register Submission of questionnaire for OMB review: Notice of submission of request for approval of a
See MoreColombian National Tax Authority reminds procedure for filing TP informative return
DIAN reminded that the formal obligation to file an informative return will only be complied with if the transfer pricing informative return (Form 120) is digitally signed and submitted and as such mere submission of Form 1125 to DIAN through its
See MoreUruguay-Bill on adoption of CbC reporting, Master file documentation and the availability of bilateral and multilateral APAs
The Uruguay Government has submitted to Congress a tax bill including adoption of the OECD’s recommendations for Country-by-Country (CbC) reporting following the scope of information to be provided under the Base Erosion and Profit Shifting (BEPS)
See MoreArgentina-Published tax incentives for micro, small and medium-sized enterprises
In Argentina, Law 27,264 establishing a special tax regime for micro, small and medium-sized enterprises (the Law) was published in the Official Gazette on 1 August 2016 and the Law has been in force since 10 August 2016. According to the Law 27,264
See MoreCanada: Country-by-country reporting legislation introduced
Following on the Organization for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Sharing (BEPS) initiative, the Finance Department has released draft legislative proposals on 29th July 2016 that would implement certain
See MoreUnited States: ADD/CVD Roundup for July 2016
Following table shows the Federal Register notices related to ADD/CVD cases for July 2016 in United States. Country Product Investigations Case Number Details Belgium Stainless Steel Plate Institution of Five-Year Reviews A-423-808 See the
See MoreMexico: Government passes new transfer pricing rules for APA
The Mexican government recently passed a new regulation to permitting the Mexican Tax Authorities to perform on-site visits to carry out their own functional analysis as a part of the Advanced Pricing Agreement (APA) process. Rule 2.12.8 published
See MorePGA Highlights: July 2016
In the United States the following events have taken place under the several PGA during the month of July 2016. Agencies Summary Federal Register Eligibility of Namibia to export meat products to the US: The Food Safety and Inspection Service
See MoreColombia: New regulation on late payment interest rate
The Financial Supervisory Authority of Colombia recently issued Administrative Regulation 0811 of 2016 about the late payment interest rate. According to the Regulation, the effective annual interest rate is 32.01% that applicable for late payment
See MoreArgentina:Abolition of withholding tax on dividends of companies
In Argentina, Law 27,260, the amendment to the Income Tax Law (LIG) was published in the Official Gazette on 22 July 2016. The Income Tax Law consists of taxation of corporations, individuals and businesses. Law 27,260 abolished the 10% withholding
See MoreChile: IRS publishes final instructions on 2014 Tax Reform and 2015 Simplification Law
The Internal Revenue Service (IRS) of Chile has published the last set of Circulars (Circular no. 40, 41, 42, 44, 48 and 49) along with instructions on the amendments introduced by the 2015 Simplification Law (Law 20,899) on 13th and 14th July 2016.
See MoreUruguay-Tax measures of the Accountability Bill
The chamber of Deputies of Uruguay received for discussion the Accountability Bill on 20 June 2016. The Bill was issued by the Executive Branch. The Bill consists of several tax measures. The corporate income tax measures included in the Bill are as
See MoreUS: IRS released final regulations on country-by-country reporting
The Treasury Department and IRS released the final regulations that require annual country-by-country reporting (CbCR) for US multinationals with annual revenue during the preceding annual accounting period of USD 850 million or more. The Treasury
See MoreColombia: DIAN issued Administrative Regulation for filing the transfer pricing informative return
The Colombian National Tax Authority (DIAN) issued an Administrative Regulation 50 of 16 June 2016 regarding the procedure and technical conditions for filing the transfer pricing informative return for the tax year 2015. In this Administrative
See MoreUnited States: ADD/CVD Roundup for June 2016
Following table shows the Federal Register notices related to ADD/CVD cases for June 2016 in United States. Country Product Investigations Case Number Details Belgium Stainless Steel Plate in Coils Antidumping Duty Order, Finding, or Suspended
See MoreArgentina- Exempt income limit increased for withholding tax on domestic payments
In Argentina, General Resolution 3884(AFIP) was published in the Official Gazette of 26 May 2016 and became in force from that date. The new Resolution amends General Resolution 830 (AFIP) which establishes a widespread system of withholding tax on
See MorePGA Highlights: June 2016
In the United States the following events have taken place under the several PGA during the month of June 2016. Agencies Summary Federal Register Application to use the Automated Commercial Environment: The U.S. Customs and Border Protection
See MoreIMF report comments on the economic policy of Peru
On 13 June 2016 the IMF published on its website a concluding statement following the completion of discussions with Peru under Article IV of the IMF’s articles of agreement. Peru’s economic growth fell in 2014 as a result of declines in
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