This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Region between 1 May and 31 May 2019.
|Argentina||Bermuda||Cayman Islands||Costa Rica|
|Aruba, Barbados, and Bermuda
For a full summary of global tax developments, visit TaxNewsFlash- Global.
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|Tax legislation approved and regulatory update
||VAT||17 April 2019||
A General Resolution published in the official gazette provides that the rate of VAT imposed on the importation of certain goods increases to 20 percent (from 10 percent).
|Tax legislation approved and regulatory update||EU blacklist||May 2019||
Aruba, Barbados, and Bermuda have agreed to changes that will address EU concerns about their tax systems. As a result they have been removed from an EU blacklist of non-cooperative tax jurisdictions.
|Tax legislation approved and regulatory update||Economic substance||July 2019||
|Tax legislation approved and regulatory update||Corporate income tax||May 2019||
The new provincial government in Alberta introduced legislation in May 2019 to reduce the general income corporate rate.
|Tax legislation approved and regulatory update||Federal fuel charge||31 May 2019||
Fuel producers, distributors and certain users in some provinces/territories have to report and remit fuel charges to the CRA.
|Tax legislation approved and regulatory update||Potash production tax||15 May 2019||
Tax measures announced in Saskatchewan's 2019 budget were enacted when Saskatchewan Bill 171 received Royal Assent. They include changes to potash production tax.
|Tax legislation approved and regulatory update||QST||1 September 2019||
Canadian businesses located outside of Quebec face new QST rules.
|Proposed legislation||Carbon tax||May 2019||
Legislation in Alberta has been proposed to repeal parts of the province's carbon tax, effective 30 May 2019.
|Proposed legislation||Customs duties||May 2019||
Canadian companies that deal in a variety of products ranging from motorcycles to washing machines may be affected by a 10 percent surtax that is imposed on “other goods” imported from the United States—a levy that is being imposed in reaction to the US actions concerning the steel and aluminum sectors.
|Proposed legislation||GST/HST||17 May 2019||
Businesses with partnerships and trusts in their structures will be affected by Finance’s recently proposed GST/HST rules.
|Tax legislation approved and regulatory update||Economic substance||1 July 2019||
The Cayman Islands Tax Information Authority has issued guidance concerning the economic substance law.
|Tax legislation approved and regulatory update||VAT||May 2019||
A report prepared by KPMG in Chile includes discussions about VAT and exported services.
|Treaties||Double tax treaties||21 April 2019||
The Costa Rica-Mexico income tax treaty entered into force on 21 April 2019.
For legislative changes and regulatory updates for the US please visit below link to the TaxNewsFlash United States.