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International Tax Newsletter: Americas

Americas

International Tax Newsletter

International Tax Americas March 2019

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Europe and Africa Regions between 1 March 2019 and 31 March 2019.

Brazil Colombia
Canada Costa Rica
Cayman Islands
United States

 

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

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

To register for the International Tax webcasts, click here.

International Tax Newsletter: Americas

Brazil

Tax legislation and regulatory update
Customs March 2019

There is new guidance in Brazil concerning the procedures for verifying the country of origin of imports subject to preferential tariff treatment.

Tax legislation and regulatory update Tax compliance March 2019

The tax authorities released the 12th edition of a computerized manual for the sale and acquisition of an integrated foreign trade system with respect to transactions involving services, intangibles, and other transactions that result in a change in equity.

Canada

Tax legislation and regulatory update QST / Digital economy  March 2019

Certain operators of electronic platforms face new QST obligations.

Proposed legislation Federal budget  19 March 2019

Finance Minister delivered the government’s 2019 federal budget. Although the budget does not include any personal or corporate tax rate changes, it did include several measures affecting corporate and personal taxpayers.

Proposed legislation  Budget  7 March 2019

Manitoba’s Finance Minister delivered the province’s 2019 budget.

Proposed legislation  Budget  19 March 2019

New Brunswick’s Finance Minister delivered the province’s 2019 budget.

Proposed legislation  Budget  26 March 2019

Nova Scotia’s Finance Minister Karen Casey delivered the province’s 2019 budget.

Proposed legislation  Budget  March 2019

Companies that offer employee stock option plans should consider whether to make changes before new rules are enacted later in 2019.

Proposed legislation  Budget  26 February 2019

Quebec Bill 13 received first reading. This bill contains measures previously announced in Quebec's 2017 and 2018 budgets and in various information bulletins published between 2016 and 2018.

Cayman Islands

Tax legislation and regulatory update
Economic substance March 2019

The Council of the European Union announced, following a review of the Cayman legislation on economic substance, an updated list on tax co-operation.

Colombia

Tax legislation
and regulatory update
Tax compliance  March 2019

KPMG in Colombia has prepared a report that outlines the 2019 annual corporate compliance measures for legal entities having a presence in Colombia.

KPMG publications Tax calendar March 2019

A “tax calendar” lists the dates for remitting payments of income tax, withholding tax, VAT, and other taxes.

Costa Rica

Tax legislation approved and regulatory update Interest rate for tax underpayments/ overpayments 27 March 2019

Resolutions published in the official gazette reflect a change in the rate of interest that is imposed on both taxpayers and the tax and customs authorities for underpayments and overpayments of tax and customs duties.

Tax legislation approved and regulatory update

VAT

18 March 2019

An executive decree published in the official gazette provides that certain basic food products will be exempt from the VAT until 1 July 2020.

Tax legislation approved and regulatory update Tax compliance July 2019

The Ministry of Finance released new guidelines for electronic receipts.

Treaties Double tax treaty  March 2019

Costa Rica has ratified an income tax treaty with Mexico—an agreement that addresses double taxation issues.

United States

   

For legislative changes and regulatory updates for the US please visit below link to the TaxNewsFlash United States.

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