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International Tax Newsletter: Americas

Americas

International Tax Newsletter

International Tax – Americas, June 2019

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Region between 1 June and 30 June 2019.

Argentina BVI  Colombia United States
Bermuda
Canada Costa Rica  

 

For a full summary of global tax developments, visit TaxNewsFlash- Global.

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

To register for the International Tax webcasts, click here.

International Tax Newsletter: Americas

Argentina

Tax legislation approved and regulatory update
Tax incentives R&D June 2019

Legislation expanding a tax incentive regime has been approved for domestic entities and professionals conducting certain activities relating to software, robotics, medical research and investigation, and R&D.

Bermuda

Tax legislation approved and regulatory update EU "blacklist" May 2019

Bermuda has been removed from the EU list of non-cooperative tax jurisdictions—the “blacklist”.

BVI

Proposed legislation  Economic substance  June 2019


The tax authority of the British Virgin Islands is expected to issue a draft “economic substance code” (rules or regulations).

Canada

Tax legislation approved and regulatory update Budget  3 June 2019

Manitoba's budget implementation bill received Royal Assent.

Tax legislation approved and regulatory update Budget  6 June 2019

The 2019 Ontario budget bill received Royal Assent and has been enacted.

Tax legislation approved and regulatory update Budget  14 June 2019 New Brunswick's budget implementation bill received Royal Assent. Read more
Tax legislation approved and regulatory update Corporate Income tax June 2019

Corporate income tax measures as included in three federal bills are deemed to be substantially enacted.

Tax legislation approved and regulatory update Tax compliance/Reporting requirements  June 2019

Legislation in British Columbia includes provisions that largely mirror the federal corporate “significant control” reporting requirements. The bill received Royal Assent.

Administrative and case law  WHT 5 June 2019

The Advocate General of the CJEU issued an opinion in a case concerning the compatibility with EU law of the German withholding tax on dividends paid to a Canadian pension program or scheme. The case is: College Pension Plan of British Columbia.

Other Stock options  June 2019

Many private companies offer stock options to employees as part of a plan to attract and retain key employees.

Colombia

Tax legislation approved and regulatory update Tax compliance 2019 

Certain taxpayers (both individuals and legal entities) have reporting obligations for the 2018 tax year concerning transactions with third parties (including clients).

Costa Rica

Tax legislation approved and regulatory update VAT 30 June 2020

The tax administration has granted a general exemption from VAT until 30 June 2020 for certain construction-related services.

Tax legislation approved and regulatory update VAT 11 June 2019

Regulations concerning VAT were published as an executive decree in the official gazette.

Tax legislation approved and regulatory update VAT June 2019

The tax authority issued guidance concerning the registration process for those involved in exporting, marketing, distributing, and producing food, as well as the procedure of applying for reduced or exempted VAT.

United States

   

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

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