International Tax Newsletter: Americas

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A monthly overview of international tax developments being reported in the Americas.

A monthly overview of international tax developments being reported in the Americas region.

Americas Region

January 2018

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas region between 1 January and 31 January 2018.

Argentina	Brazil	Canada
Colombia	Jamacia	Mexico
United States

For a full summary of global tax developments, visit kpmg.com/taxnewsflash.

To contact the International Tax Team email internationaltax@kpmg.com.

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Argentina

Tax legislation approved and regulatory update

Tax Reform - January 2018

The Argentine government issued Decree 1112/2017 enacting and making effective comprehensive tax reform. The changes introduced by the tax reform are aimed at promoting investment and competitiveness, and moving Argentina towards a more equitable, efficient, and modern tax system.

Tax legislation approved and regulatory update

Tax havens - December 2017

Costa Rica, Madeira, and Singapore have been removed from the list of “tax havens” in Brazil.

Tax incentives (oil & gas) - December 2017

Tax law measures offering incentives for taxpayers in the oil and gas industry were enacted in late December 2017. The federal tax authority of Brazil subsequently issued guidance for implementing the new tax law.

Tax legislation approved and regulatory update

Tax on dividends - 16 January 2018

Quebec will harmonize with Canada's new dividend gross-up factor.

Various tax areas - 2017

KPMG in Canada has prepared a summary of the Canadian federal and provincial tax legislation enacted after June 30, 2017.

Voluntary disclosures program - 28 February 2018

The Canada Revenue Agency has extended the deadline for taxpayers to access the current Voluntary Disclosures Program before new restrictive changes take effect.

Proposed legislation

Hotel taxes - January 2018

Hotels in Ontario may soon be required to collect and remit new municipal hotel taxes.

Carbon tax - 27 January 2018

Along with legislation, Finance has also released details of a related regulatory framework that will apply to any province or territory that does not implement a carbon pricing system before 2019 that meets the federal standards.

Administrative and case law

Various tax areas - 30 January 2018

New Brunswick Finance Minister delivered the province’s 2018 budget on January 30, 2018.

Treaties

Tax information exchange - 18 December 2017

The new Tax Information Exchange Agreement between Canada and the Cook Islands is in force as of December 18, 2017. The agreement generally applies to taxable periods beginning on or after that date.

Proposed legislation

Various tax areas - 10 January 2018

Tax professionals have proposed five items that are appropriate for Colombian tax reform in 2018 and need to be considered by any candidate for the presidency.

KPMG publication

Various tax areas - 2018

KPMG in Colombia has prepared a “tax calendar” that sets out the due dates relating to withholding taxes, VAT, excise taxes, and other tax return items for 2018.

Tax legislation approved and regulatory update

Corporate income tax - 15 March 2018

Taxpayers that have not yet filed their income tax returns for the year of assessment 2017 and declarations of estimated income tax for the year of assessment 2018 are reminded that the deadline for filing these documents is 15 March 2018.

Administrative and case law

Tax compliance - January 2018

The “Sixth Resolution of Modifications to the Miscellaneous Fiscal Resolution for 2017” reflects tax incentives to encourage electronic payment of taxes and electronic information reporting.