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.

International Tax Americas August 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 August and 31 August 2019.

Bahamas	Chile	Dominican Republic	United States
Brazil	Colombia	Mexico
Canada	Costa Rica	Uruguay

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

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

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Bahamas

KPMG publications

Taxation of international executives

August 2019

KPMG in Bahamas prepared a report on the taxation of international executives.

Brazil

Administrative and case law

Beneficial ownership

August 2019

Brazil’s tax authority announced an “annual inspection plan” for 2019 that focuses on identifying ultimate beneficial owners that use offshore structures for purposes of obtaining tax benefits.

Canada

Tax legislation approved and regulatory update	Monitoring of aluminum and steel imports	August 2019	Canada's Department of Finance is introducing additional changes to determine that imports of aluminum and steel into Canada do not increase beyond historical levels. Read more
Proposed legislation	Allocation rules / Mutual fund trusts	July 2019	The Department of Finance in the 2019 budget proposed restrictions on mutual fund trusts related to the allocation of capital gains or income, or both, to redeeming unitholders. The Department of Finance released a revised version of draft legislation that includes two relief measures—in addition to the allocation to redeemer restrictions. Read more
Proposed legislation	Federal budget	August 2019	The Department of Finance released draft legislation to implement certain tax measures from the 2019 federal budget. Read more
Proposed legislation	Tax compliance	August 2019	Revenue Quebec has proposed to extend the deadline for disclosures of nominee agreements. Read more
Treaties	Multilateral instrument	29 August 2019	Canada’s Department of Finance issued a release announcing that Canada has deposited its instrument of ratification with the depositary of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. Read more
KPMG publications	Guide to real estate tax	August 2019	KPMG in Canada has prepared a tax technical guide to help navigate through some of the Canadian tax fundamentals regarding the real estate sector. Read more

Colombia

Tax legislation approved and regulatory update

Customs

August 2019

New customs measures in Colombia are effective in August 2019.

Costa Rica

Tax legislation approved and regulatory update

Tax compliance

July 2019

Resolutions from the tax administration were published in the official gazette to explain the use of certain new tax returns.

Tax legislation approved and regulatory update

Tax compliance

12 August 2019

A resolution published in the official gazette concerns the requirement that certain taxpayers use a specific portal for filing tax returns.

Dominican Republic

Proposed legislation

Special tax regime for multinational headquarters

August 2019

A bill—recently introduced in the Dominican lower house—would create a special tax regime for multinational corporate headquarters in the Dominican Republic.