BDO Corporate Tax News - Issue 59

The resurgence of COVID19 that continues to afflict many countries has not stopped governments from  tinkering with their tax systems. 

To help you keep up to date with COVID19 relief measures introduced by governments worldwide,  see BDO's interactive map for COVID-19 fiscal and financial measures. 

BDO Corporate Tax News summarises recent tax developments of international interest across the world. 

In this issue:

• Global minimum tax: G-20 backs G-7 support for global minimum tax and new allocation rules – what’s the real impact?
• Argentina: Progressive corporate income tax rate system introduced
• Australia: ATO releases compliance guidance for intangible arrangements with cross-border related parties
• Botswana: Enacted budget measures include rate changes and tax amnesty
• Canada: Budget 2021 proposes earnings-stripping rules
• Ecuador: Special regime for micro enterprises offers beneficial tax rate
• European Union:
  • Reporting obligations in the digital platform economy
  • European Commission publishes communication on business taxation for the 21st century
  • EU General Court rules in favour of Amazon in state aid case
• Germany:
  • Real Estate Transfer Tax rules tightened 
  • BMF issues guidance on tax compliance obligations relating to German-registered IP rights  
• Hungary: Hungary declines to endorse plan for global minimum tax
• India: Certain goodwill no longer eligible for depreciation
• Latvia: Revised CIT regime provides potential benefits and opportunities for shareholders
• Mexico: Far-reaching labour reform addresses outsourcing arrangements and has tax consequences
• Panama: Overview of changes to special tax regimes and introduction of new regime
• Serbia: New legal and tax framework for digital assets
• Singapore: General anti-avoidance provisions enhanced 
• Sri Lanka: Strike it rich with tax-free investments!
• United Kingdom:
  • Finance Act 2021 impacts deferred tax in company accounts: IFRS and US GAAP treatment
  • Responsible Tax: Including tax in Environmental, Social and Governance criteria 
• United States: Treasury’s “green book” provides details on administration’s tax blueprint
• Zimbabwe: Tax authorities revise compliance obligations due to COVID-19 

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