Sri Lanka extends return filing deadlines amid COVID-19 pandemic
On 21 April 2020, the Inland Revenue Department (IRD) of Sri Lanka announced extended deadlines for certain tax returns to 31 May 2020 in response to COVID-19 pandemic. The IRD announced revise due date for the following tax returns: Annual
See MoreVietnam: Tax measure due to COVID-19 pandemic
On 8 April 2020, Prime Minister of Vietnam approved Decree No 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic. The main measures of the Decree are as
See MoreTaiwan: MOF extends tax return deadline due to COVID-19
On 13 April 2020, Taiwan’s Ministry of Finance (MOF) has extended tax filing and payment deadlines for corporate income tax and individual income tax amid COVID-19 pandemic. The main measures are as following: Corporate income tax original due
See MoreNew Zealand announces temporary loss carry-back scheme in response to COVID-19
On 15 April 2020, New Zealand has announced a temporary loss carry-back scheme in response to COVID-19 to support customers in the current uncertain economic environment. Businesses expecting to make a loss in either the 2020 year or the 2021
See MoreKorea extends individuals tax return filing and payment deadline amid COVID-19
On 9 April 2020, the South Korean Ministry of Economy and Finance has published an announcement regarding tax support in response to COVID-19 pandemic. In the announcement, South Korea’s government has extended tax return filing and payment
See MoreHong Kong: Tax payment deadline automatically extended by three months
On 8 April 2020, the Chief Executive announced that to ease the financial burden and cash flow of businesses and individuals arising from COVID-19, tax payment deadlines for salaries tax, personal assessment and profits tax demand notes for the
See MoreSri Lanka: WHT payment extension due to COVID-19 pandemic
Sri Lanka has issued a notice on an extension of the payment deadline for withholding tax (WHT) amid COVID-19 pandemic. According to the notice, those who are liable to make withholding tax payments for the month of February 2020 which was due on
See MoreCOVID-19: Malaysia extends deadline for filing CbC report and notification
On 10 April 2020, the Inland Revenue Board of Malaysia (IRBM) published an updated FAQ document related to the tax management issue in response to COVID-19 pandemic that includes the extension of the deadline for submitting country-by-country (CbC)
See MoreSri Lanka: Updated notice on implementation of amendments to the Inland Revenue Act 2017
On 8 April 2020, the Inland Revenue Department (IRD) of Sri Lanka published a revised version of a notice regarding the implementation of proposed amendments to the Inland Revenue Act, No. 24 of 2017. As instructed by the Ministry of
See MoreSingapore extends tax filing deadlines amid COVID-19 pandemic
The Inland Revenue Authority of Singapore (IRAS) has published COVID-19 Support Measures and Tax Guidance, as part of support measures to help taxpayers in light of the COVID-19 situation, Inland Revenue Authority of Singapore (IRAS) is providing
See MoreNew Zealand: Inland Revenue announced relief regarding APA during COVID-19
The New Zealand’s Inland Revenue (IR) has announced relief regarding advance pricing agreement (APA) during the COVID-19 outbreak. Inland Revenue has assured that customers do not need to take any specific action now to ensure that their
See MoreJapan announces emergency economic measures in response to COVID-19 pandemic
On 7 April 2020, the National Tax Agency of Japan announced tax relief measures in response to the coronavirus (COVID-19) pandemic. For almost all national tax liabilities of legal or individual taxpayers for which payment due dates fall
See MoreThailand extends tax returns filing deadlines in response to COVID-19 pandemic
The Ministry of Finance of Thailand has launched three Notifications to extend filing tax returns and submitting payments according to the Cabinet Resolution on 24 March 2020. This is to help people and entrepreneurs to increase liquidity referring
See MoreCOVID-19: Indonesia publishes further guidance in response to coronavirus outbreak
On 31 March 2020, Indonesia President signed the Government Regulation No. 1 for 2020 (PERPPU-1) in handling COVID-19 outbreak. The regulation includes the following tax measures. The CIT rate is reduced from 25% to 22% for tax years 2020
See MoreAzerbaijan: Tax measures due to COVID-19 outbreak
On 29 March 2020, the Azerbaijan Ministry of Economy issues press release clarifying deadlines for submission of tax returns and other measures due to COVID-19 outbreak. According to a decree of 25 March 2020, the period from 29 March to 3 April
See MoreIndia: Central Board of Direct Taxes (CBDT) publishes finance act 2020
On 27 March 2020, the Central Board of Direct Taxes (CBDT) published the Finance Act 2020 that includes measures announced as part of the Union Budget 2020-2021 and others. The measures of the Finance Act generally apply from 1 April 2020 (or
See MoreIndia introduces new equalization levy with effect from 1 April 2020
On 27 March 2020, the Central Board of Direct Taxes (CBDT) published the Finance Act 2020 which received the assent of the President on the same date that includes a new equalisation levy with effect from 1 April 2020. The levy will be charged at a
See MoreCOVID-19: Hong Kong extends tax deadlines
On 4 April 2020, Inland Revenue Department announced that in view of the latest situation of COVID-19, deadlines for tax payments and lodgement of objections and holdover applications as well as submission of tax returns and information that fall
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