close
Share with your friends
International Tax Newsletter: Americas

Americas International Tax Newsletter

International Tax Americas January 2020

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Region 1 January 2020 and 31 January 2020.

Canada

Mexico

Colombia

US

Costa Rica  

 

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

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

To register for the International Tax webcasts, click here

International Tax Newsletter: Americas

Canada

  Tax area concerned Relevant date Description of measures and publication link
Canada
Tax legislation approved and regulatory update Tax compliance  January 2020

Corporations and other organizations preparing financial reports need to be aware of certain 2019 Canadian income tax rate and other changes that may need to be reflected in year-end financial statements.

Tax legislation approved and regulatory update GST / Employment benefits    January 2020 

Employers need to consider GST/HST and QST* regarding their employees' 2019 taxable benefits.

Proposed legislation  Athlete trusts  January 2020

The Department of Finance has proposed an extension to the expiration period for amateur athlete trusts by one year (from eight years to nine years) for trusts that would have otherwise expired in 2019.

Colombia


Tax area concerned Relevant date Description of measures and publication link
Colombia 

Tax legislation approved and regulatory update

Tax reform 

27 December 2019

Tax reform legislation that includes “economic growth” provisions has been enacted as Law 2010 on 27 December 2019.

Costa Rica


Tax area concerned Relevant date Description of measures and publication link
Costa Rica 

Tax legislation approved and regulatory update

Ultimate beneficiary 

January 2020 

The national legislature in January 2020 approved a moratorium concerning the penalties that can be imposed for non-compliance with the rules to file declarations with the ultimate beneficiary registry.

Mexico


Tax area concerned Relevant date Description of measures and publication link
Mexico 

Tax legislation approved and regulatory update

Various tax areas     

December 2019

Mexico’s tax measures for 2020 were published in the official gazette in late December 2019 and include rules about the following tax provisions.

United States


Tax area concerned Relevant date Description of measures and publication link
United States 

 

 

 

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

Connect with us