World Wide Tax News

In this edition of World Wide Tax News, we look other important topics, including the introduction of the Bas<e Erosion and Anti-abuse Tax regulations in the United States of America, the Public Emergency law in Argentina, tax reforms in Costa Rica, Paraguay and Switzerland, Budget announcements in Hong Kong, India and Zimbabwe, and other current developments in tax, across the globe.

Klick here for the complete issue.

The newsletter for this month covers:

• International
  • ​Explore our new interactive tool for Taxation of the Digital Economy
  • Take part in Global Tax Outlook 2020 
• ​Asia Pacific 
  • AUSTRALIA: Australian draft law provides clarity on hybrid mismatch rules
  • HONG KONG: Budget highlights 2020/21
  • INDIA: Union Budget 2020
  • KOREA: Cash grant budget expansion
  • MALAYSIA: Changes to the Labuan tax regime
• Europe and the Mediterranean 
  • ISRAEL: Change in business model - Broadcom Corporation case
  • THE NETHERLANDS: 
    • MLI MAP-tiebreaker - Dutch State Secretary of Finance intends to respect the outcome of ‘old’ corporate / MAP-tiebreakers of tax treaties
    • Restriction on the deduction of liquidation and termination losses from 2021
    • Update on the Brexit transition period
    • Other recent developments
  • ROMANIA: Transposal of EU Directives on reporting of cross-border arrangements and hybrid mismatches in Romania
  • SWITZERLAND: The Swiss tax reform (TRAF) entered into force on 1 January 2020
  • UNITED KINGDOM: Freeports - The Government’s Vision
• Latin America
  • ARGENTINA: Public emergency law - Tax measures​
  • ECUADOR: Tax simplification and progressivity law
  • PANAMA: Electronic invoicing implementation
  • PARAGUAY: Modernising and simplifying the Paraguayan tax system
• North America and the Caribbean
  • COSTA RICA: Tax reform: Income tax and Value Added Tax
  • UNITED STATES: Treasury issues final regulations and additional proposed regulations for base erosion and anti-abuse tax 
• Africa
  • NIGERIA: Finance Act 2019 changes 
  • ZIMBABWE: 2020 Budget: Amendments to the Income Tax Act