BDO Corporate Tax News - July 2021

BDO Corporate Tax News (former World Wide Tax News) summarises recent tax developments of international interest across the world. The newsletter highlights the latest tax news with an emphasis on corporate international tax. See all the topics from the links below.

In this month’s 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 UNION: European Commission publishes communication on business taxation for the 21st century
• EUROPEAN UNION: EU General Court rules in favor of Amazon in state aid case
• GERMANY: BMF issues guidance on tax compliance obligations relating to German-registered IP rights
• GERMANY: Real Estate Transfer Tax rules tightened
• 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
• UNITED KINGDOM: 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