International Tax Americas March 2024
This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Regions between 1 March and 31 March 2024.
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.
Bahamas
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Bahamas |
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Tax legislation approved and regulatory update |
Tax compliance |
19 March 2024 |
Updated FATCA and common reporting standards (CRS) reporting deadlines. Read more. |
Barbados
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Barbados |
|||
Proposed legislation |
Various tax topics |
19 March 2024 |
New tax credits for various sectors proposed in 2024 budget. Read more. |
Tax legislation approved and regulatory update |
Tax compliance |
05 March 2024 |
Removal from Financial Action Task Force’s grey list. Read more. |
Bermuda
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Bermuda |
|||
Proposed legislation |
Income tax |
06 March 2024 |
No new taxes in 2024-2025 budget. Read more. |
Bolivia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Bolivia |
|||
Tax legislation approved and regulatory update |
Indirect tax |
12 March 2024 |
Guidance on exemption from financial transactions tax for certain diplomatic organizations. Read more. |
Tax legislation approved and regulatory update |
Indirect tax |
12 March 2024 |
Guidance on correction of invoices in the registry of purchases and sales. Read more. |
British Virgin Islands
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
British Virgin Islands |
|||
Tax legislation approved and regulatory update |
Tax compliance |
14 March 2024 |
Common reporting standard (CRS) categorization update in British Virgin Islands financial account reporting system (BVIFARS) portal. Read more. |
Tax legislation approved and regulatory update |
Tax compliance |
11 March 2024 |
Deployment of payment module on British Virgin Islands financial account reporting system BVIFars portal postponed. Read more. |
Canada
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Canada |
|||
Tax legislation approved and regulatory update |
Tax compliance |
29 March 2024 |
Relief for bare trusts from new information reporting requirements. Read more. |
Proposed legislation |
Various tax topics |
27 March 2024 |
Direct and indirect tax measures in 2024 budget (Ontario). Read more. |
Proposed legislation |
Various tax topics |
22 March 2024 |
Tax measures in 2024 budget (Newfoundland and Labrador). Read more. |
Proposed legislation |
Various tax topics |
21 March 2024 |
Tax measures in 2024 budget (Saskatchewan). Read more. |
Proposed legislation |
Various tax topics |
20 March 2024 |
Tax measures in 2024 budget (New Brunswick). Read more. |
Proposed legislation |
Various tax topics |
14 March 2024 |
Tax measures in 2024 budget (Quebec). Read more. |
Cayman Islands
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Cayman Islands |
|||
Tax legislation approved and regulatory update |
Tax compliance |
25 March 2024 |
Updated FATCA and common reporting standards (CRS) guidance. Read more. |
Chile
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Chile |
|||
Proposed legislation |
Indirect tax |
27 March 2024 |
Tax reform bill introduces Value Added Tax (VAT) liability for sales of low-value goods. Read more. |
Columbia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Colombia |
|||
Tax legislation approved and regulatory update |
Tax compliance |
01 March 2024 |
Corporate compliance for legal entities with presence in Colombia (2024). Read more. |
Jamaica
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Jamaica |
|||
Proposed legislation |
Various tax topics |
14 March 2024 |
Tax measures in 2024-2025 budget. Read more. |
Mexico
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Mexico |
|||
Tax legislation approved and regulatory update |
Tax compliance |
25 March 2024 |
Volumetric controls for self-consumption of natural gas. Read more. |
Saint Kitts and Nevis
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Saint Kitts and Nevis |
|||
Tax legislation approved and regulatory update |
Tax compliance |
06 March 2024 |
Updated automatic exchange of information (AEOI) compliance form guidelines. Read more. |
United States
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
United States |
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|
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For legislative changes and regulatory updates for the US please visit below link to the TaxNewsFlash United States. |
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