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TaxNewsFlash-Americas — KPMG's reports of tax developments in the Western Hemisphere


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Recent Articles

February 2020

26 Feb - Canada: M&P equipment tax credit extended in Quebec

26 Feb - Canada: Partnership exemption from property tax of foreign buyers, British Columbia

26 Feb - Canada: Reduced corporate income tax rate in 2020 Nova Scotia budget

26 Feb - Mexico: New tax reporting format for legal entities

21 Feb - Dominican Republic: Auction for power plant construction projects postponed

20 Feb - Cayman Islands: EU “blacklist” of non-cooperative jurisdictions

20 Feb - Mexico: Compliance with labor, other factors related to construction activities

19 Feb - Canada: Individual income tax rate changes in 2020 British Columbia budget

18 Feb - Costa Rica: Real estate tax, exemption amount for 2020

14 Feb - Costa Rica: Free trade zone, clarifications on treatment of domestic sales

14 Feb - Dominican Republic: Services provided by investment fund administrators exempt from VAT

13 Feb - Canada: Film tax credit in Alberta

12 Feb - Costa Rica: Limited deductions for certain expenses, non-cooperative jurisdictions and electronic invoices

6 Feb - Canada: Exemption from British Columbia property tax, 31 March deadline

6 Feb - Canada: Prescribed income tax interest rates unchanged (second quarter 2020)

6 Feb - Canada: Prescribed PLOI interest rate to increase (second quarter 2020)

6 Feb - Canada: Ratification process begins, trade agreement with United States, Mexico

5 Feb - Colombia: New import declaration rules for “free zones” operators

5 Feb - Colombia: Tax calendar for 2020

5 Feb - Panama: Tax incentives to promote tourism

December 2019

27 Dec - Argentina: Tax reform measures are enacted

27 Dec - Dominican Republic: Customs rules for shipping, exporting merchandise

19 Dec - Canada: New employee stock option rules delayed 

19 Dec - Mexico: Tax reform for 2020; focus on international taxation, digital taxation, other items

19 Dec - Canada: Overview of GST and customs changes in 2019

19 Dec - Canada: Possible tax agenda of new government

19 Dec - Canada: Reminder for investor information compliance by 31 December 2019 (GST/HST purposes)

19 Dec - Canada: Tax credits repealed and enacted (Alberta); effective 2020

19 Dec - Canada: Tax paid-up capital, dividend tax credit (Quebec)

19 Dec - Canada: Tax rate reductions for small business, aviation fuel (Ontario)

16 Dec - Canada: Update on trade agreement with United States, Mexico

12 Dec - Canada-Chile: Income tax treaty, withholding tax rate reduced retroactively

12 Dec - Canada: Principal residence exemption for trusts, recommended expansion

12 Dec - Canada: Quebec pension plan contribution limits for 2020

12 Dec - Canada: Relief to ease deductions for mining taxes to be proposed

12 Dec - Ecuador: New form allows multiple tax payments; electronic invoice requirements

11 Dec - Brazil: Regulation of tax settlements

11 Dec - Canada: “Middle class tax cut” proposed for 2020

11 Dec - Costa Rica: Proposal for VAT collection mechanism, cross-border or intangible digital services

10 Dec - Argentina: Tax rules for permanent establishment, foreign stock transfers, thin capitalization, other provisions

10 Dec - Canada: Federal carbon charge measures, effective in Alberta beginning 2020

10 Dec - Canada: Alberta facilities to register with CRA regarding fuel charge

9 Dec - Mexico: “Certain date” on documents, tax law implications

6 Dec - Canada: Possible withholding tax changes with ratification of MLI

5 Dec - Colombia: Update on economic stimulus legislation and tax proposals

2 Dec - Canada: Pension plan, employment insurance refund deadline, 31 December 2019

November 2019

25 Nov - Colombia: Tax measures proposed in growth promotion bill

25 Nov - Costa Rica: Taxation and savings certificates, wire transfers, short-term rentals, other items

25 Nov - Dominican Republic: Tax measures in budget bill 2020

21 Nov - Trinidad and Tobago: Tax proposals in 2020 budget

20 Nov - Canada: Charitable planning tax opportunities

20 Nov - Canada: Quebec legislative update; capital cost allowance, tax credits

19 Nov - Mexico: Constitutionality of rules limiting tax offsets

14 Nov - Mexico: Details of tax reform legislation

14 Nov - Brazil: Basis for calculating consolidated social contributions (PIS and COFINS)

14 Nov - Canada: “Fairness relief” deadline for 2009 is 31 December 2019

14 Nov - Canada: Individual taxpayer, small business tax measures in Nunavut legislation

14 Nov - Canada: Pension contribution limits for 2020

13 Nov - Canada: Year-end considerations for owner-managers

11 Nov - Chile: Tax proposals affecting multinational entities and investors

11 Nov - Canada: Year-end considerations for 2019 individual taxation

8 Nov - Canada: Ontario’s small business tax rate reduced to 3.2% for 2020

8 Nov - Canada: Tax provisions included in Quebec fall update

7 Nov - Canada: Interest rates for first quarter 2020

6 Nov Canada: Contribution limits for Canada pension plans (CPPs) increased for 2020

6 Nov - Canada: Corporate “significant control” reporting requirements in British Columbia

5 Nov - Mexico: Tax reform 2020, VAT on services provided from digital platforms

5 Nov - Mexico: Update on tax reform for 2020

June 2019

27 Jun - Canada: Corporate income tax measures enacted, budget bill

26 Jun - Canada: Tax harmonization measures, Quebec and 2019 federal budget

26 Jun - Canada: Tax proposals in Prince Edward Island 2019 budget

25 Jun - Costa Rica: Guidance for food producers and exporters, reduced VAT rate

24 Jun - Costa Rica: VAT exemption for construction services

24 Jun - Canada: Finance proposes changes to stock-option deduction cap

19 Jun - Canada: New Brunswick budget legislation enacted

19 Jun - Canada: No changes in reintroduced 2019 budget, Newfoundland and Labrador

14 Jun - Canada: Pension plans to file GST/HST returns, rebates by 30 June

13 Jun - Canada: Corporate “significant control” reporting requirements in British Columbia

12 Jun - Canada: Manitoba’s budget legislation enacted, tax measures included

12 Jun - Colombia: Information reporting requirements about transactions with third parties, clients

12 Jun - British Virgin Islands: Economic substance requirements, information reporting

11 Jun - Costa Rica: VAT regulations include measures concerning digital transactions

7 Jun - Canada: Transitional rules, rate reduction of Manitoba’s retail sales tax

6 Jun - Bermuda: Economic substance legislation; removal from EU “blacklist”

6 Jun - Canada: Employee stock options, tax opportunities with proper planning

6 Jun - Canada: GST/HST annual information returns due 30 June 2019

6 Jun - Canada: New Brunswick budget advances

6 Jun - Canada: Ontario budget legislation includes digital media tax credit changes

5 Jun - Canada: Withholding by Germany on dividends distributed to Canadian pension plan (CJEU Advocate General opinion)

3 Jun - Argentina: Enhanced tax incentive regime for software, knowledge-based services, R&D

April 2019

18 Apr - Mexico: Self disclosure of unresolved tax liabilities

16 Apr - Canada: British Columbia enacts tax credit measures from province’s budget, introduces new LNG tax credit

16 Apr - Canada: Corporate tax credit measures in Nova Scotia’s 2019 budget enacted

16 Apr - Canada: Saskatchewan budget bill, first reading; three non-refundable tax credits introduced

16 Apr - Canada: Newfoundland and Labrador 2019 budget; no tax rate changes, film tax credit extended 

16 Apr - Canada: Tax credit available for news organizations in 2019

16 Apr - Canada: Ontario announces childcare credit and estate tax changes

15 Apr - St. Lucia: Tax proposals in 2019 / 2020 budget

12 Apr - Canada: No tax rate changes in Ontario’s 2019 budget

11 Apr - Canada: GST risks of financial institutions

11 Apr - Canada: Status of 2019 federal budget bill #1 and fall economic update

11 Apr - Canada: Status of natural gas tax credit bill in British Columbia

11 Apr - Canada: Tax on cross-border insurance, 30 April deadline

9 Apr - Canada: Nova Scotia budget bills receive first reading

8 Apr - Mexico: VAT, tax incentives extended for “northern border region”

5 Apr - Costa Rica: Ultimate beneficial owner registry; monthly VAT returns

4 Apr - Canada: Finance comments on tracking arrangement rules, implications for investment industry

3 Apr - Canada: Saskatchewan's 2019 budget would repeal deductions relating to potash production tax

2 Apr - Barbados: Budget 2019 proposes thin cap, transfer pricing rules

March 2019

29 Mar - Costa Rica: Interest rate for tax underpayments, overpayments

28 Mar - Canada: Companies need to consider steps in advance of changes to stock option rules, as announced in federal budget

28 Mar - Canada: Exemption from “speculation and vacancy tax” for British Columbia property owners, 31 March deadline

28 Mar - Canada: Venture capital tax credit in Nova Scotia 2019 budget; no changes to income tax rates

27 Mar - Costa Rica: New guidelines for electronic receipts

22 Mar - Costa Rica: Income tax treaty with Mexico

19 Mar - Canada: Tax provisions in 2019 federal budget

19 Mar - Canada: No changes to corporate, individual tax rates in New Brunswick 2019 budget

18 Mar - Costa Rica: VAT exemption for basic food products

14 Mar - Cayman Islands: Economic substance and collective investment funds

13 Mar - Canada: Federal budget scheduled for 19 March 2019

13 Mar - Canada: Update on legislative measures, previously announced in Quebec's 2017 and 2018 budgets

11 Mar - Canada: Electronic platforms must collect and remit Quebec sales tax (QST) on taxable supplies of intangibles, services

8 Mar - Canada: No changes to corporate, individual income tax rates in Manitoba’s 2019 budget

8 Mar - Colombia: Corporate compliance obligations for legal entities (2019)

7 Mar - Jamaica: Tax measures in 2019/2020 budget

5 Mar - Brazil: Updated guidance for determining country of origin

5 Mar - Brazil: Updated user guide, reporting transactions with foreign persons

1 Mar - Colombia: Tax calendar for 2019

1 Mar - Dominican Republic: Opportunities for tax credits to reduce tax liability; action required by 1 April for 31 March year-end taxpayers

November 2018

30 Nov - Costa Rica: Free trade agreement with Panama

28 Nov - Canada: Tax credits for “qualifying” news organizations, digital news subscribers

27 Nov - Costa Rica: Tax reform, status update

21 Nov - Canada: Enhanced capital cost allowances; quicker recovery of investment costs of Canadian businesses

15 Nov - Canada: Ontario not adopting federal measures for phase-out of small business limit, passive investment income

15 Nov - Colombia: Legislation includes VAT measures, corporate rate reduction, investment incentives

15 Nov - Costa Rica: Registry of taxpayer legal representatives, other developments

15 Nov - Canada: Deadline for employers under GST/HST and QST pension plan rules

15 Nov - Canada: Employer refund claims for CPP and EI overpayments due 31 December

15 Nov - Canada: Manitoba budget bill; small business deduction limit to increase in 2019

15 Nov - Canada: Possible tax changes in response to U.S. tax reform

15 Nov - Canada: Quebec's phase-out of input tax refund restrictions in 2019

15 Nov - Canada: Year-end tax planning tips for owner-managers

12 Nov - Dominican Republic: Opportunities for tax credits to settle 2018 tax liability

8 Nov - Costa Rica: Tax residency based on 183 days; tax-exemption beneficiary audits

1 Nov - Canada: Negotiations to update income tax treaty with Brazil planned for November 2018

1 Nov - Canada: Update on federal budget bill; Form T1134 accelerated filing date; income tax changes

1 Nov - Canada: Contribution limits for Canada pension plan (CPP) increased for 2019

1 Nov - Canada: Pension contribution limits for 2019

1 Nov - Canada: Prescribed income tax interest rates unchanged (first quarter 2019)

1 Nov - Canada: Prescribed PLOI interest rate increase (first quarter 2019)

October 2018

30 Oct - Brazil: Guide to oil and gas taxation (2018)

30 Oct - Canada: Charitable donations for tax credit on 2018 return

26 Oct - Canada: Deadline for companies with foreign affiliates filing T1134

26 Oct - Costa Rica: Free trade zone, changes to regulation

25 Oct - Brazil: Presidential run-off election and implications for tax

23 Oct - Canada: Proposed relief, “speculation tax” on residential property in British Columbia

23 Oct - Canada: Proposed employer health tax, applicable to permanent establishments in British Columbia with employees

23 Oct - Canada: New employer health tax in British Columbia; would apply for charitable and non-profit employers

16 Oct - Uruguay: New tax compliance guidance for digital economy

15 Oct - Canada: Investment limited partnerships to consider new GST/HST election for 2018 fiscal year

15 Oct - Costa Rica: Status of tax reform bill

15 Oct - Costa Rica: VAT and excise tax, exempt assets acquired domestically

11 Oct - Canada: Relief relating to U.S. tariffs on steel and aluminum imports

10 Oct - Canada: “Advantages tax rules" and 100% tax on certain advantages related to individuals' registered plans

10 Oct - Costa Rica: Free trade zone companies not exempt from stamp tax

10 Oct - Mexico: Business transactions conducted by internet; physical presence not required

9 Oct - Brazil: São Paulo state’s taxpayer compliance program

9 Oct - Costa Rica: Updates to income tax brackets for 2019

2 Oct - Trinidad and Tobago: Tax proposals in budget 2018

1 Oct - Canada: Tentative trade deal with United States and Mexico

April 2018

29 Apr - Argentina: Withholding tax, income of foreign beneficiaries from Argentine shares, debt instruments

25 Apr - Canada: Digital tax credit in Alberta

25 Apr - Canada: Nova Scotia budget receives Royal Assent, includes all tax measures

25 Apr - Canada: Update on tax legislation in British Columbia

24 Apr - Barbados: Income tax treaty with Italy, effective 2018

24 Apr - Panama: Income tax treaty with Italy, effective 2018

23 Apr - Mexico: New trade agreement with EU

20 Apr - Chile: Effective date for VAT changes; other developments

18 Apr - Canada: Businesses in British Columbia required to impose PST on delivery charges

18 Apr - Canada: Real estate taxes; relief from speculation tax in British Columbia

17 Apr - Brazil: Tax compliance program (São Paulo)

12 Apr - Argentina: Guidance on tax treatment of financial income earned by foreign beneficiaries

12 Apr - Canada: GST/HST and QST returns for selected listed financial institutions with 31 December year-end due 30 June 2018

12 Apr - Canada: Insurance companies must issue refunds of Saskatchewan provincial sales tax to policyholders by 30 June 2018

11 Apr - Canada: Saskatchewan 2018 budget; no corporate tax rate change, but changes for individual taxation and dividend tax credit

10 Apr - Canada: Nova Scotia budget bill receives first reading

9 Apr - Canada: Prince Edward Island budget, reduced small business tax rate

9 Apr - Canada: Proposal to require businesses outside Quebec to register for and collect QST beginning 1 January 2019

4 Apr - Canada: Federal budget bill receives first reading; small business tax rate reduction, tax on split income

4 Apr - Canada: Ontario tax bill receives first reading; corporate income tax measures

March 2018

29 Mar - Canada: General partners of investment limited partnerships, remit GST/HST by 31 March 2018

29 Mar - Canada: Ontario’s 2018 budget; changes to individual income tax rates and corporate tax credits

29 Mar - Panama: Reminder of due dates for filing returns, paying taxes

28 Mar - Brazil: ICMS imposed on electronic commerce, digital goods (São Paulo)

27 Mar - Canada: Quebec budget includes small business tax relief, QST on e-commerce transactions

27 Mar - Canada: Newfoundland and Labrador budget, no tax rate changes

27 Mar - Dominican Republic: Tax returns modified, identifying ultimate “beneficial owner”

23 Mar - Canada: Alberta 2018 budget; no tax rate changes, extensions of tax credits

21 Mar - Canada: British Columbia 2018 budget bill receives Royal Assent; includes measures affecting corporate tax credits

20 Mar - Canada: No changes to tax rates in Nova Scotia 2018 budget; tax credit changes proposed

20 Mar - Brazil: Guidelines for information relating to tax credits, benefits

20 Mar - Panama: Overview of Authorized Economic Operator (AEO) program

19 Mar - Dominican Republic: Tax authorities requesting transfer pricing studies, verifying interest deductibility of related-party transactions

15 Mar - Jamaica: Tax return deadline extended to 24 March 2018

13 Mar - Bahamas, Saint Kitts and Nevis, U.S. Virgin Islands: Jurisdictions added to EU “blacklist”

13 Mar - Brazil: Due dates and schedules for large companies to report labor, employment actions

13 Mar - Brazil: Increased rate of tax, foreign exchange transfers

13 Mar - Canada: Proposed shortened (six-month) deadline to file information returns about foreign affiliates; possible challenges for multinational corporations

13 Mar - Canada: Tax measures in 2018 Manitoba budget; no changes to corporate or individual tax rates

12 Mar - Dominican Republic: New “tax receipt” rules effective May 2018

12 Mar - Mexico: Maquila or “sub-maquila”

8 Mar - Bermuda: Tax measures in budget 2018-2019

7 Mar - Panama: Relief from municipal taxes in Panama-Pacific special economic zone

2 Mar - Canada: New real estate tax measures in British Columbia; implications for real estate developers

1 Mar - Canada: 2018 federal budget measures affecting financial services sector

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