PGA Highlights: September 2016
In the United States the following events have taken place under the several PGA during the month of September 2016. Agencies Summary Federal Register Application to export electric energy: Rassini Energy Project, LLC (Applicant or REP) has
See MorePeru: Government proposes higher corporate taxes
In August 2016 the Government of Peru presented a bill to the parliament which stated its intention to increase corporate income tax for large and medium-sized companies but to reduce it for small companies. The standard rate for large companies
See MoreIMF comments on economic position of Jamaica
On 19 September 2016 the IMF issued a press release following the 13th Review under the Extended Fund Facility (EFF) with Jamaica. Jamaica’s economy is improving with an agricultural recovery, a strong performance in tourism and manufacturing and
See MoreUruguay: Publishes Decree regulating modifications to tax rules made by National Budget Law
The Ministry of Finance issued Decree No. 279/016 on 12 September 2016 that contains regulatory provisions for the application of the modifications to tax rules made by Law No. 19,355 of 15 December 2015. The main provisions of the Decree are
See MoreCosta Rica: Tax authority finalize transfer pricing return procedures
Costa Rica has published a resolution in the official gazette to finalize the rules concerning the filing of an annual transfer pricing return for taxpayers qualifying as “large taxpayers” or as “national large companies” or operating under
See MoreBrazil: Decision releases concerning the application of the new Brazilian CFC rules
The Federal Court of Curitiba passed on a decision in relation to Process No. 5005596- 52.2015.4.04.7000/PR on May 6, 2016.The single court judgments finish off that a Brazilian taxpayer may remove from the calculation of its corporate income tax
See MoreArgentina: Publishes significant tax changes
On July 22, 2016, Law 27,260, with special incentives for Argentine taxpayers businesses to report previously unreported foreign and domestic assets, was published in the Argentine Official Gazette. The law includes modifications to various tax
See MoreG20 leaders comment on tax policy
The final communiqué from the G20 summit held in Hangzhou, China on 4 and 5 September 2016 began by noting that although the global economy is recovering from the crisis growth is still relatively weak. New sources for growth are emerging but
See MoreBrazil: Private ruling published in the Official Gazette on transfer pricing resale price method
Private Ruling 63/2016 published in the Official Gazette of 31 August 2016 clarified that under the transfer pricing resale price method, the fixed profit margins apply according to the economic sector of the legal entity. In the case of resident
See MoreUnited States: ADD/CVD Roundup for August 2016
Following table shows the Federal Register notices related to ADD/CVD cases for August 2016 in United States. Country Product Investigations Case Number Details Australia Hot-Rolled Steel Flat Products Final Determination of Sales at Less Than
See MorePGA 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
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