Hong Kong Issues Tax Returns For Individuals

by Mary Swire, Tax-News.com, Hong Kong

Last updated 22 hours ago | Wednesday, May 12, 2021

On May 3, 2021, the Hong Kong Inland Revenue Department issued over 2.62 million tax returns for individuals for the year of assessment 2020-21. Read Full Story

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting

by Ulrika Lomas, Tax-News.com, Brussels

Last updated 22 hours ago | Wednesday, May 12, 2021

Experts speaking at the UN's Economic and Social Council's annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Read Full Story

Philippines To Complete Tax Incentives Review By Early May

by Mary Swire, Tax-News.com, Hong Kong

Monday, April 26, 2021

The Philippines Department of Finance has announced that the Fiscal Incentives Review Board (FIRB) will complete the implementing rules and regulations for the corporate Recovery and Tax Incentives for Enterprises (CREATE) Act by the third week of May. Read Full Story

China Halves Corporate Tax For Smallest Businesses

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 15, 2021

Chinese authorities have announced enhanced temporary tax breaks for small businesses. Read Full Story

US IRS Reminds Of FBAR Filing Obligation

by Mike Godfrey, Tax-News.com, Washington

Thursday, April 15, 2021

The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is still April 15, 2021. Read Full Story

New Zealand Explains Recent Tax Law Changes

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 15, 2021

The New Zealand Inland Revenue Department has released a new "special report" to provide guidance on changes to real property tax rules and other tax rules that were included in the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021. Read Full Story

India Hikes Threshold For Country-by-Country Reporting

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 15, 2021

India has enacted legislation to hike the turnover threshold for filing a country-by-country report. Read Full Story

Singapore Issues Advance Ruling On IP Rights Transfer

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 15, 2021

On April 1, 2021, the Inland Revenue Authority of Singapore issued a summary of an advance ruling concerning franchise income earned by a Singaporean company from licensing intellectual property rights. Read Full Story

Hong Kong Issues 2020-21 Tax Returns

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, April 6, 2021

On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21. Read Full Story

Hong Kong Tables Tax Law Administration Bill

by Mary Swire, Tax-News.com, Hong Kong

Thursday, March 25, 2021

Hong Kong tabled the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 in parliament on March 24. Read Full Story

Hong Kong Adopts Law To Cut Stamp Duty Rates

by Mary Swire, Tax-News.com, Hong Kong

Friday, March 19, 2021

Hong Kong has passed legislation to abolish the doubled ad valorem stamp duty rates applicable to non-residential property transactions with effect from November 26, 2020. Read Full Story

EU Committed To Boosting Tax Take From Digital Economy

by Ulrika Lomas, Tax-News.com, Brussels

Friday, March 19, 2021

The EU is willing to move ahead with its own proposals on taxing the digital economy if an agreement is not reached at an international level, according to the current EU Council presidency. Read Full Story

UK Issues Guidance On New Stamp Duty Surcharge On Non-Residents

by Jason Gorringe, Tax-News.com, London

Friday, March 19, 2021

HM Revenue and Customs has recently issued new guidance on the Stamp Duty Land Tax (SDLT) on non-resident buyers of residential property in England and Northern Ireland. Read Full Story

Cyprus Extends Deadline For Filing 2019 Corporate Tax Returns

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, March 25, 2021

Cyprus has extended the deadline for the submission of corporate tax returns and the TD1A form required from certain self-employed persons. Read Full Story

Australia To Shutter 'Harmful' Offshore Banking Unit Regime

by Mary Swire, Tax-News.com, Hong Kong

Friday, March 19, 2021

The Australian Government has confirmed that it will amend its offshore banking unit regime after it was designated a harmful tax regime by the OECD and the European Union. Read Full Story

UAE Sets Out VAT Rules For Social Media Income, Performers

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, March 19, 2021

The United Arab Emirates' Federal Tax Authority has released a bulletin highlighting the value-added tax rights and obligations of performers and those who earn income from online platforms. Read Full Story

Singapore Updates Tax Rules For Company Liquidations

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, March 3, 2021

The Inland Revenue Authority of Singapore has updated its guidance on the tax requirements for companies being liquidated and those under receivership. Read Full Story

Singapore Explains Changes To 2021 Tax Filing Rules

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, March 3, 2021

The Inland Revenue Authority of Singapore has said that it will be sending tax bills directly to certain taxpayers this tax filing season and will be simplifying filing arrangements for the self-employed. Read Full Story

Belgium Gazettes Law For Tax On Securities Accounts

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, March 3, 2021

Belgium has published in its Official Gazette legislation to introduce the country's new tax on securities accounts. Read Full Story

Hong Kong Announces Tax Relief In 2021-22 Budget

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, March 3, 2021

Hong Kong will grant taxpayers a waiver of up to HKD10,000 (USD1,290) of profits tax, salaries tax, and tax under personal assessment, the territory announced in its 2021-22 Budget. Read Full Story

Malaysia Updates Tax Guidance For Digital Services Providers

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, March 3, 2021

Malaysia has comprehensively updated its guidance on the requirement on foreign service providers to collect service tax on business-to-consumer supplies of digital services. Read Full Story

Sweden To Probe E-Commerce And Rental Income Declarations

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, March 3, 2021

The Swedish tax authority has announced that it will be expending more resources this year on ensuring businesses fully declare income from e-commerce and taxpayers report income from home rentals. Read Full Story

Singapore Expands Business Tax Support Schemes In 2021 Budget

by Mary Swire, Tax-News.com, Hong Kong

Monday, February 22, 2021

Singapore announced the extension of a number of support measures for businesses in its 2021 Budget, released on February 16, 2021. Read Full Story

Seychelles Hoping For EU Tax Blacklist Removal This Year

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, February 22, 2021

The Seychelles Ministry of Finance has said it is confident that it will be removed from the EU's list of non-cooperative jurisdictions when it is next reviewed. Read Full Story

OECD Completes Phase One BEPS Action 14 Reviews

by Ulrika Lomas, Tax-News.com, Brussels

Monday, February 22, 2021

Read Full Story

• 16/02/2021 Belgian Lawmakers Approve New Tax On Securities Trading »
• 15/02/2021 Cyprus Allows Firms Longer To Pay VAT Due In Feb, March »
• 15/02/2021 US Tax Season Begins »
• 12/02/2021 EU Sizes Up Impact Of New UK Free Trade Deal »
• 11/02/2021 Irish VAT Rate Cut To Be Reversed In March »
• 11/02/2021 Experts To Explain New Toolkit On Transfer Pricing Documentation »
• 10/02/2021 Belgium Opens Tax Portal For Company Filings »
• 09/02/2021 EU Kick-starts Review Of Financial Services VAT Rules »
• 09/02/2021 MEPs Call For EU Carbon Border Adjustment Mechanism »
• 09/02/2021 Switzerland Eyeing Tax Regime Improvements »
• 02/02/2021 Hong Kong Provides Tax Concessions For Carried Interest »
• 08/01/2021 Jersey Launches Individual Tax Season »
• 31/12/2020 Netherlands To Introduce New Environmental Taxes »
• 31/12/2020 Belgium Extends Cross-Border Worker Deals »
• 30/12/2020 Switzerland, Italy Agree Tax Deal For Frontier Workers »
• 25/12/2020 Malta Amends VAT Registration Thresholds »
• 25/12/2020 Austria Gazettes Law For New Interest Deduction Limitation »
• 24/12/2020 Russian Duma Approves Changes To Luxembourg And Cyprus DTAs »
• 22/12/2020 Germany, Pakistan Ratify The BEPS MLI »
• 22/12/2020 Norway Issues VAT Regulation In Response To Brexit »
• 22/12/2020 Dutch Senate Approves 2021 Tax Changes »
• 21/12/2020 Cyprus Government Fails To Pass Budget »
• 21/12/2020 Cyprus Extends Deadlines For CbC Reports »
• 18/12/2020 UK, Mexico Sign Continuity Trade Deal »
• 17/12/2020 Isle of Man Reminds Of Tax Payment Deadlines »

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