Dominican Republic: DGII publishes guidance on the tax on the transfer of industrialized goods and services
The Directorate General of Internal Revenue (DGII) published guidance on the tax on the transfer of industrialized goods and services (ITBIS) on 31 January 2018. The Tax on ITBIS is a general tax on consumption type value aggregate that applies to
See MoreCanada: CRA tightens its GST/HST Voluntary Disclosure Program
The Government is committed to cracking down on tax evasion and aggressive tax avoidance to ensure a system that is responsive and fair for all Canadians. A revised Voluntary Disclosures Program (VDP) came into effect form March 1, 2018, to narrow
See MorePGA Highlights: February 2018
In the United States the following events have taken place under the several PGA during the month of February 2018. Agencies Summary Federal Register Annual listing of foreign government subsidies on articles of cheese: This notice has been
See MoreUnited States: ADD/CVD Roundup for February 2018
Following table shows the Federal Register notices related to ADD/CVD cases for February 2018 in United States. Country Product Investigations Case Number Details Belarus Carbon and Alloy Steel Wire Rod Notice of Correction to Antidumping Duty
See MoreCanada: Finance Minister presents the Federal Budget 2018
The Finance Minister, Bill Morneau, presented a federal budget, on February 27, 2018, that plans a clear course for the Liberals to the 2019 election, an aspirational road map designed to ensure that no woman, scientist or national wildlife area
See MoreMexico modifies transfer pricing filing due dates
As a result of an amendment to Article 32-H of the Federal Tax Code (FTC) became the due date amended for submission simplified informative returns on the tax situation taxpayers who choose to file an ISSIF and do business with related parties need
See MoreArgentina publishes guidance on the tax deduction incentive for start-ups
The Ministry of Production has recently released proper instructions regarding tax deduction incentive. This incentives assists to investments in eligible start-ups and it was declared by Law 27.349. This gives a tax deduction equal to up to 75% of
See MoreUS: IRS increases the fees for advance pricing agreements
On 6 February 2018, the Internal Revenue Service (IRS) announced that fees for Advance Pricing Agreements (APAs) are expected to increase in a two-step process. For APA requests submitted after June 30, 2018, the fees will increase as follows:
See MoreCanada: MLI ratification process begins
The Parliamentary Secretary on behalf of the Minister of Foreign Affairs, Matt DeCourcey, had presented the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on January 31, 2018,
See MoreCanada: British Columbia issues draft budget 2018-19
The Finance Minister of British Columbia, Carole James, presented the province’s fiscal budget 2018-2019 on February 20, 2018. The summary of this budget is given below: A new child care program that makes care effectively free for some
See MoreJamaica and five more countries sign MLI to implement tax treaty related BEPS measures
On 24 January 2018, the Ministers and high-level officials from Jamaica, Malaysia, Panama, Barbados, Côte d’Ivoire and Tunisia have signed the BEPS Multilateral instrument (MLI) to amend double tax treaties to bring into effect changes designed
See MoreCanada: CRA announces prescribed interest rates for 2018
The Canada Revenue Agency (CRA) has announced the recommended annual interest rates for the first quarter (Q1) on December 15, 2017. It will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. The
See MoreCanada: Federal Budget 2018 is to be scheduled on February 27, 2018
On February 14, 2018, the Finance Minister, Bill Morneau, announced that the Federal Budget 2018 will be presented on February 27, 2018, in the House of Commons. According to the Budget 2018, the Government will take some steps towards equality, and
See MoreEcuador publishes coefficients for presumptive assessment
On 26 January 2018, the Internal Revenue Service (SRI) of Ecuador has published a Resolution No. NAC-DGERCGC18-00000018 to commence the coefficients for presumptive tax assessments for the tax year 2017. The coefficients for 2017, which vary by
See MoreCosta Rica: Tax administration Gazettes CbC reporting resolution
On 2 February 2018, Costa Rica published the Resolution no.DGT-R-001-2018. Resolution No.DGT-R-001-2018 requires multinationals to submit a CbC report in accordance with the OECD's recommendations for the erosion and profit shifting base (BEPS)
See MoreUnited States: ADD/CVD Roundup for January 2018
Following table shows the Federal Register notices related to ADD/CVD cases for January 2018 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Countervailing Duty Orders C-357-821 See the Federal Register
See MoreUS: President signs Tax Cuts and Jobs Act
Congress has passed the Tax Cuts and Jobs Act(the Act), and the President signed it on December 22, 2017. The most important changes in the area of corporate taxation are: Main corporate tax rate: Under the new Act, the corporate tax rate
See MorePGA Highlights: January 2018
In the United States the following events have taken place under the several PGA during the month of January 2018. Agencies Summary Federal Register Scheduling of upcoming public hearing: The Commission has scheduled a public hearing for March
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