Argentina Filing return: On 28 April 2022, the Federal Public Revenue Administration published General Resolution 5189/2022 of 28 April 2022, which extends the submission deadline of the corporate tax returns to between 23 and 26 May 2022, with the exact date depending on the taxpayer ID number (CUIT) and due date of tax payment to between 24 and 27 May 2022 for fiscal years closing in December 2021.
See the story in Regfollower
Bangladesh Filing return: On 16 May 2022, the National Board of Revenue of Bangladesh has published a Notice regarding the extension of the deadline for the filing of corporate income tax (CIT) returns for the 2020-2021 income year ended on 30 June 2021. According to the Notice, the deadline has been extended to 15 June 2022 for the income year 2020-2021.
See the story in Regfollower
Belgium Filing return: On 9 May 2022, the Federal Public Service Finance of Belgium has issued a Notice declaring that the corporate income tax (CIT) return submission deadline is 17 October 2022 for the fiscal years ending from 31 December 2021 to 28 February 2022.
See the story in Regfollower
Greece Incentive for small business: On 26 May 2022, the Greek Official Gazette published Law No. 4935/2022, which introduced a 30% income tax exemption for certain restructurings of new companies. The tax exemption applies when certain cumulative conditions are met.
See the story in Regfollower
India Incentive for infrastructure: On 9 May 2022, the Central Board of Direct Taxes issued Circular No. 9 of 2022, which provides a set of guidance on the provisions (clause (23FE) of Section 10) of the Income Tax Act that exempt sovereign wealth funds (SWF) and pension funds from a tax on their income from infrastructure investments in India.
See the story in Regfollower
Malaysia Incentive for Industry/Manufacturing: On 24 May 2022, the Malaysian Ministry of Finance issued the Income Tax Rules (The Principal Hub Incentive Scheme) 2022. These rules apply to a qualifying company applying in writing to the Minister through the Malaysian Investment Development Authority for the Principal Hub Incentive Scheme and such application is received on or after 1 January 2021 but no later than 31 December 2022.
See the story in Regfollower
Netherlands Reduced rates: On 20 May 2022, the Dutch Ministry of Finance published the Spring Memorandum 2022 and plans for 2023 and beyond. In general, the regular corporate tax rate for 2022 is 25.8%. However, up to a tax base of 395,000 Euros, a reduced tax rate of 15% applies, also known as the base rate. The government has decided to lower this step limit to 200,000 Euros by 2023.
See the story in Regfollower
Poland Interest on late payments: On 11 May 2022, the Polish Ministry of Finance fourth time published the increased interest rates on tax arrears as well as on the late payment. Accordingly, the standard rate is increased from 12% to 13.5% per annum; the reduced rate (applies when a taxpayer files a justified corrected tax return and pays the due tax within 7 days from filing the return) is increased from 6% to 6.75% yearly.
See the story in Regfollower
Portugal Filing return: Recently, the Portuguese government has provided a brief extension to the corporate income tax return deadline for the 2021 fiscal year. Typically the deadline is 31 May 2022, for taxpayers with a fiscal year that follows the calendar year. The new deadline is 6 June 2022.
See the story in Regfollower
Singapore Filing return: On 4 May 2022, the Inland Revenue Authority of Singapore published guidance on the 2022 corporate tax filing season. The deadline for filing your Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C) for the Year of Assessment 2022 is 30 November 2022.
See the story in Regfollower
South Africa Interest on late payments: On 18 May 2022, the South African Tax Authority published updated interest rate tables. The South African Reserve Bank changed the “Repo Rate” on 19 May 2022 effective 1 June 2022. For ease of reference, the interest rate tables are located in three separate documents under three categories.
See the story in Regfollower
Spain Submission of return: On 28 April 2022, Spain published an Order HFP/379/2022 in the Official Gazette, approving the forms and instructions for the corporate tax and Non-Resident Income Tax returns for periods from January 1 to 31 December 2021. The regulation will come into effect on 1 July 2022.
See the story in Regfollower
Turkey Reduced rates: On 14 May 2022, the Turkish government has published General Communiqué No. 20 in the Official Gazette, which clarifies about 1% corporate income tax (CIT) reduction for manufacturing and export activities. Turkey reduced the rate by Law No. 7351 on 22 January 2022.
See the story in Regfollower