World Tax Brief: February 2024
Argentina Incentives: The Argentine Executive Branch proposed a bill introducing a new "Incentive Regime for Large Investments”. It aims to provide predictability and stability for investors committing to large projects, offering tax and
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World Tax Brief: January 2024
Belgium International-CFC: The government proposes stricter rules on taxing undistributed income of controlled foreign companies, shifting from anti-avoidance to targeting passive income in the EU Anti-Tax Avoidance Directive. Double taxation
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World Tax Brief: December 2023
Albania Rates-National/Federal: Albania enacted Instruction No. 26 on 19 September 2023, implementing the new Income Tax Law No. 29/2023 effective from 1 January 2024. Key changes include a standard 15% corporate income tax rate, with reduced
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World Tax Brief: November 2023
Argentina Payment of tax: The Argentine Federal Tax Authority (AFIP) introduced General Resolution No. 5424/2023, requiring income tax prepayment for companies in Financial Intermediation, Insurance Services, or registered as payment service
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World Tax Brief: October 2023
Argentina Payment of tax: On 4 September 2023, the Argentine Official Gazette published General Resolution No. 5411/2023, extending integrated tax payment deadlines for small business taxpayers. Based on Categories A, B, C and D tax payment
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World Tax Brief: September 2023
Australia Rates-Special tax rate: The Australian Taxation Office (ATO) officially initiated targeted public consultation regarding the adoption of Pillar 2 global minimum tax rules. The 15% global minimum tax and 15% domestic minimum tax will
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World Tax Brief: August 2023
Albania Liability to Tax: Albania's Parliament approved Law no. 36/2023, to foster tech and innovation start-ups. The law supports "digital nomads" foreign professionals using technology provide their professional services on behalf of
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World Tax Brief: July 2023
Czech Republic Rates-Special tax rate: The Ministry of Finance of the Czech Republic has released a proposed bill in accordance with EU directive on global minimum tax that outlines the implementation of the top-up tax for tax periods
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World Tax Brief: June 2023
Albania Liability to Tax: On 2 May 2023, the Law No. 29/2023 of 30 March 2023 (the new law) was published in the official gazette, effective on 1 January 2024. The new law will replace Law No. 8438 of 28 December 1998. The new law introduces
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World Tax Brief: May 2023
Algeria Tax Compliance-Submission of returns: The Algerian Directorate General of Taxes (DGI) has declared the deadline for filing tax returns for 2022. Accordingly, the deadline for the 2022 tax return is extended to 31 May 2023. See the
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World Tax Brief: April 2023
Australia Tax Compliance: The Australian Taxation Office (ATO) has released the Reportable Tax Position (RTP) schedule for 2023. To determine whether a company needs to file an RTP schedule, they must conduct a self-assessment. Companies that
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World Tax Brief: March 2023
El Salvador Sanctions for non-compliance-Late payments of tax due: The Ministry of Finance of El Salvador has announced annual interest rate of 6.35% for late tax payments from 1 February 2023 to 31 July 2023. The interest rate will be
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World Tax Brief: February 2023
Albania Rates-Special tax rate: On 18 January 2023, Albania gazettes Law 98/2022 regarding introduction of a temporary windfall tax on energy producers. This windfall tax is imposed at a rate 50% on excess income on the sale of electricity at
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World Tax Brief: January 2023
Armenia Incentives-Industry/manufacturing: The Armenian parliament has approved a law for the extension of tax incentives for start-ups of information technology (IT) industry. The incentives include a 100% corporate income tax exemption and
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World Tax Brief: December 2022
Albania Treatment of losses-Carry forward: On 27 October 2022, the Albanian parliament is taking into account a draft bill, which proposed an amendment to the income tax law. The new bill extends the time period for loss carryover from 3
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World Tax Brief: November 2022
Belgium Submission of returns: On 30 September 2022, the Belgian Ruling Commission announced filing and prefiling requests related to the innovation income deduction and transfer pricing. According to the announcement, all prefiling requests
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World Tax Brief: October 2022
Angola Withholding tax rate-Others: On 22 August 2022, Angola published Law no. 27/22 in the Official Gazette amending the Corporate Income Tax Code. Accordingly, the withholding tax (WHT) rate on services paid to non-residents has been
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World Tax Brief: September 2022
Argentina Advance payments due: On 16 August 2022, the Argentine tax authority published General Resolution No. 5248/2022, requiring a one-time tax payment for certain large companies that benefitted from deducting losses due to the
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