Canada: CETA Trade Agreement enters into force
The Comprehensive Economic and Trade Agreement (CETA) between Canada and European Union came into force on September 21, 2017. The CETA is a progressive free trade agreement that covers virtually all sectors and aspects of Canada-EU trade in order
See MoreUS: IRS issues guidance for tax credit for expanding research activities
The Internal Revenue Service has issued guidance to Large Business & International (LB&I) Division examiners regarding the examination of the credit for increasing research activities under IRC Section 41 (“Research Credit”) claimed by
See MoreUAE: DTA signs with Costa Rica
The Minister of Foreign Affairs and Worship in Costa Rica, Manuel A. Gonzalez Sanz, has made a visit to attend a meeting at the ministry in capital San Jose and to meet with Assistant Minister of Foreign Affairs and International Cooperation for
See MoreUnited States: IRS issues draft advance pricing agreement (APA) template for public comment
The US Internal Revenue Service (IRS) has recently published on its web page that the IRS’s Advance Pricing and Mutual Agreement Program (APMA) is soliciting comments on a proposed revision to the template for advance pricing agreements (APAs).
See MoreUnited States: ADD/CVD Roundup for September 2017
Following table shows the Federal Register notices related to ADD/CVD cases for September 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Scheduling of the Final Phase of Antidumping Duty
See MorePGA Highlights: September 2017
In the United States the following events have taken place under the several PGA during the month of September 2017. Agencies Summary Federal Register Delay of transition of test program: This notice announces that from December 9, 2017, ACE
See MoreDominican Republic: DGII publishes the sixth version of the transfer pricing information
Recently, the Dominican Republic Tax Authorities (DGII) published the 6th version of the transfer pricing information return (DIOR) through its virtual platform. The content of the form has been simplified to guarantee the accuracy and organization
See MoreUS: Donald Trump plans to reduce tax burden for corporations and individuals
President Donald Trump proposed on 27 September 2017 the biggest U.S. tax overhaul in three decades. The proposals come in a “framework” for tax reform with the following changes. Individual measures: Seven existing tax brackets collapsed to
See MoreUruguay: Regulations on common reporting standard (CRS) issued
On 25 September 2017, the Tax Authority issued Resolution No. 6.396/017 providing instructions to financial institutions for reporting information under the Common Reporting Standard (CRS) guided by OECD. Under the CRS, Financial institutions are
See MoreArgentina: General Resolution 4130-E publishes in Official Gazette
The Federal Tax Administration (FTA), on September 20, 2017, published the General Resolution 4130-E in the Official Gazette. It establishes the country-by-country (CbC) guiding framework in Argentina and is applicable to ultimate parent entities of
See MoreNicaragua: Transfer pricing legislations are in effect as of 30 June 2017
The transfer pricing rules are in effect as of 30 June 2017 which was enacted by the Nicaraguan Congress through Law No. 822 of 2012. Law No. 822, enacted on 12 December 2012, contains the Nicaraguan transfer pricing rules that were intended to
See MoreDTA between Belarus and Ecuador enters into force
On 16 August 2017, the Double Taxation Agreement (DTA) between Belarus and Ecuador was entered into force and it will apply from 1 January 2018. On 25 September 2017, Ministry of Taxes and Levies of Belarus announced it in their website. The
See MorePuerto Rico: Guidance on due dates extension for specific tax return and payment obligations
Treasury Department (PRTD) has published a guide Information Bulletin 17-17 on Circular Letter (CL) 17-13, which has deferred the due dates for particular tax returns and payment accountabilities due to the exceptional circumstances stated by the
See MoreVenezuela: New reduced VAT rate for electronic purchases
The National Integrated Service of Customs and Tax Administration (SENIAT) declared that as of September 27, 2017, the standard value added tax (VAT) rate in case of electronic purchases will be reduced by 3% or 5%. In the General Assembly of
See MoreMexico presented budget proposal and tax reform for 2018
The Minister of Finance submitted the budget for 2018 to the Congress for its approval on 8th September 2017. The Proposed Budget includes the Federal Revenue Law (Revenue Law), General Economic Policy Guidelines and the Federal Spending Budget
See MoreColombia issues draft decree on transfer pricing regulations
The Ministry of Finance and Public Credit of Colombia issued a draft decree 1625 of 2016 concerning transfer pricing documentation for public consultation on 11 August 2017. The major issues in the proposed decree are business restructuring rules,
See MoreEcuador updates withholding tax rates
On 24 August 2017, the Internal Revenue Service (IRS) of Ecuador issued Resolution No. NAC-DGERCGC17-00000440 to amend previous Regulation N° NAC-DGERCGC14-00000787 for establishing the income tax withholding rates with effect from 22 August
See MoreUAE: DTA ratifies with Argentina
The United Arab Emirates (UAE) ratified the Double Taxation Agreement (DTA) with Argentina on August 23, 2017, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
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