Canada: CRA updates a publication about non-Resident tax withholding and remitting
The Canada Revenue Agency (CRA) has updated its publication, T4061 NR4 entitled ‘Non-Resident Tax Withholding, Remitting, and Reporting 2016’ on 6th December 2016. The new publication explains that residents of Estonia have been exempt from tax
See MoreMexico: Amendments to Hydrocarbons Revenue Law
The Decree amending the Hydrocarbons Revenue Law was released in the Official Gazette on 7 December 2016 and the amendments comprise with other changes, amendment to the adjustment mechanism and the method for calculating deductible costs and
See MoreUS: IRS issued on guidance on payment of dividend equivalents from US sources
The Internal Revenue Service on 2 December 2016 issued Notice 2016-76 to provide guidance on compliance in 2017 and 2018 with the final and temporary regulations issued under sections 871(m), 1441, 1461 and 1473 of the US Internal Revenue Code
See MoreUS- Grenada signed FATCA agreement
Grenada and the United States signed an intergovernmental agreement on 1 December 2016 to improve international tax compliance with respect to the US Foreign Account Tax Compliance Act (FATCA). The details of agreement will be reported
See MoreArgentina: Amendments and clarification in tax amnesty regime
A Decree 1,206/2016 was published in the Official Gazette of 30th November 2016 and effective from 1st December 2016. This decree amends and clarifies certain aspects of the tax amnesty regime implemented by Decree 895/2016. The main requirements
See MoreDTA between Argentina and Mexico approved
The draft law that ratifies the Income and Capital Tax Treaty (2015) between Argentina and Mexico has been approved by the Argentine Chamber of Deputies on 23rd November
See MoreUnited States: ADD/CVD Roundup for November 2016
Following table shows the Federal Register notices related to ADD/CVD cases for November 2016 in United States. Country Product Investigations Case Number Details Australia Certain Uncoated Paper Initiation of Anti-Circumvention
See MoreBrazil: Publishes proposed Country-by-Country reporting rules
The Brazilian Federal Revenue Agency on 4 November 2016, published a proposed Normative Instruction to establish country-by-country reporting (CbCR) rules in Brazil for Multinational groups where the ultimate parent company is a resident in Brazil
See MorePGA Highlights: November 2016
In the United States the following events have taken place under the several PGA during the month of November 2016. Agencies Summary Federal Register Export-Import rules revisions for hazardous waste: The Environmental Protection Agency (EPA)
See MoreDTA between Canada and Madagascar signed
The Income Tax Treaty (2016) between Canada and Madagascar has been signed on 24th November 2016 in
See MoreBrazil: Updates fictitious credit for CFC rule
Normative Instruction 1,674/2016 released in the official Gazette on 29 November 2016 and in force on the same date of publishing. Normative Instruction 1,674/2016 adjusts the option that, resident companies to submit the profits derived by the
See MoreMexico: Amendments to tax reform package
The Decree including the tax reform package for 2017 was released in the Official Gazette on 30 November 2016. According to the decree the Legal representatives must acquire a taxpayer registration number and an electronic signature. The instructive
See MoreBolivia: Publishes audit procedure rules
The National Tax Service published Resolution No. 10-0032-16 (the Resolution) on 27 November 2016. The Resolution contains the formalities to be observed by the tax authorities during an audit procedure carried out to verify tax liabilities
See MoreProtocol to DTA between Belgium and Canada approved
The Belgian parliament has approved the amending protocol of Income and Capital Tax Treaty (2002) between Belgium and Canada on 24th November 2016. It was signed on 1st April 2014 for the avoidance of double taxation and the prevention of fiscal
See MoreMexico: Publishes tax reform package for 2017
Mexico’s Government on 30 November 2016 Publishes the Decree containing the tax reform package for 2017 in the Official Gazette. The reform will be effective as of 1 January 2017. The main amendments to the income tax law are summarised
See MoreUS: TIGTA urged the IRS to ensure the protection of data the IRS transfers to external partners
The Treasury Inspector General for Tax Administration (TIGTA) in a final report issued November 3 concluded that transfer pricing issues are not being properly evaluated by the Internal Revenue Service because of various procedural barriers at the
See MoreColombia: Tax reform bill 2016
The comprehensive tax reform bill 2016 recently submitted by the government of Colombia to the Congress with the following corporate income tax issues: Rates: The bill proposes to unify the income tax and the Fairness Tax into a single income tax
See MoreArgentina: Income tax exemption announced
The Minister of Finance announced a future implementation of an income tax exemption on 22nd November 2016. The future implementation regarding income tax exemption is that second installment of the 13th month salary to be paid during December. In
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