Mexico extends individual tax return filing deadline amid COVID-19
On 22 April 2020, the Mexican Tax Administration (SAT) has issued a press release extending tax return filing deadline for individual amid COVID-19 pandemic. SAT has extended the period of submitting tax returns from 30 April 2020 to 30 June
See MoreCanada: CRA announces some tax relief measures during COVID-19 pandemic
The Canada Revenue Agency (CRA) has recently announced few tax relief measures. These includes: On 21 April 2020, the CRA launched general guidance concerning the Canada Emergency Wage Subsidy (CEWS) and a calculator for determining the subsidy
See MoreUS: IRS publishes FAQs on transfer pricing documentation best practices
On 14 April 2020, the United States (US) Internal Revenue Service (IRS) has posted on its website new frequently asked questions (FAQs) outlining best practices and common error in preparing transfer pricing documentation. The IRS states that
See MoreColombia issues Decree subject to insolvency regime amid COVID-19
On 15 April 2020, Colombia has issued Decree 560 of 2020 regarding insolvency processes, which are intended to mitigate the extent of the effects on companies affected by the declaration of a state of emergency due to COVID-19. The corporate
See MorePuerto Rico: Governor signs amendments to the Tax Reform
On 19 April 2020, the Puerto Rican Office of the Governor has announced that Governor Wanda Vázquez Garced has signed tax reform bill for individuals and businesses. The bill includes the following tax measure: an additional reduction of 3% on
See MoreDominican Republic: DGII grants new facilities to taxpayers due to COVID-19 impact
On 12 April 2020, the General Directorate of Internal Taxes (DGII) approved new tax relief measures in response to coronavirus outbreak. This includes: the submission due date of Form IR-17 or other withholding and complementary remuneration,
See MoreColombia: Abbreviated tax refund procedure due to COVID-19 Pandemic
On 10 April 2020, Colombia has published Decree 535 regarding the abbreviated procedure of return and/or compensation of balances in favor of taxpayers of income and complementary tax and of sales tax (VAT), within the framework of the state of
See MoreCOVID-19: US IRS extends additional key tax deadlines for certain individuals and businesses
On 9 April 2020, the Department of Treasury and the Internal Revenue Service published a notice that extends additional key tax deadlines for individuals and businesses. In March 2020, the IRS announced that taxpayers generally have until July
See MoreCanada: The CRA cancels Circular IC 87- 2R regarding guidance for applying TP rules
The Canada Revenue Agency (CRA) has cancelled the Circular IC 87- 2R as from 30 December 2019, because it is inconsistent with the interpretation and application of Canadian transfer pricing legislation and does not reflect updates to the OECD
See MoreBrazil: Latest status of tax relief measures in response to COVID-19 pandemic
On 3 April 2020, the Government published Resolution No. 154 of 3 April 2020 in the Official Gazette, which extends the payments deadlines for taxes and social security contributions for taxpayers under the Simples Nacional regime due to
See MorePeru: SUNAT modifies tax filing deadline amid COVID-19 pandemic
On 30 March 2020, the Peruvian Tax Administration (SUNAT) has published Resolution No. 065-2020/SUNAT in the Official Gazette modifying Resolution No. 055-2020/SUNAT. The Resolution facilitates compliance with tax obligations before the
See MoreColombia: Additional tax deadline extensions due to COVID-19 pandemic
On 6 April 2020, Colombia has published Decree 520 regarding the dates for the presentation and payment of the income tax declaration and complementary tax year 2019, of large taxpayers and legal entities, as well as the dates for the
See MorePanama extends suspension of administrative appeals proceedings amid COVID-19 pandemic
The tax authority of Panama published Resolution No. 201-2353 of 2020, amending Resolution No. 201- 2270 of 2020 to extend the suspension of administrative appeals proceedings until the emergency is lifted due to the COVID-19 outbreak. Previously
See MoreArgentina: Government announces further extension of transfer pricing return deadline (COVID-19)
On 31 March 2020, the Government officially published General Resolution 4689/2020 of 30 March 2020, which provides a further extension of the extended timeline to transfer pricing filing returns forms (Form 741, Form 743, Form 867 and Form 4501)
See MoreArgentina: Tax authorities extend measures during COVID-19 pandemic
On 30 March 2020, the Government has officially published General Resolution 4690/2020 of 30 March 2020, which amends General Resolution 4667/2020 on the tax regularization scheme for small and medium enterprises (SMEs). It extends the deadline to
See MoreVenezuela: Tax measures in response to COVID-19 pandemic
On 2 April 2020, the Government officially published Decree 4171, which enters into force on the similar day of its publication. The Decree contains: An income tax exemption for the domestic-source income derived by certain resident individuals
See MoreBolivia: Revenue Authority issues Resolution regarding tax filing deadline extension
On 28 March 2020, the Revenue Authority issued an Administrative Resolution N° 1020000000061 of 27 March 2020 regarding tax deadline extensions due to coronavirus outbreak. This contains: The deadline for the submission of corporate income tax
See MoreCanada: Government extends deadline for filing income tax return and payments
On 18 March 2020, the Prime Minister and the Finance Minister announced some tax relief measures due to COVID-19 outbreak: The federal corporate tax return deadline is extended to 1 June 2020. The filing deadline extensions have also been
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