International Tax Americas August 2022
This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Regions between 1 August and 31 August 2022.
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.
Bolivia
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Bolivia |
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Tax legislation approved and regulatory update |
Various tax topics |
02 August 2022 |
The tax authority issued guidance relating to payment facilities. Read more. |
Tax legislation approved and regulatory update |
Income tax |
01 August 2022 |
Modified guidelines and legislative changes regarding failure-to-pay penalty. Read more. |
Brazil
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Brazil |
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KPMG Publication |
Various tax topics |
08 August 2022 |
Recent tax developments that may affect companies in the financial, insurance, and real estate sectors. Read more. |
Tax legislation approved and regulatory update |
Tax compliance |
05 August 2022 |
30 September 2022 deadline for reporting of tax benefit by companies engaged in R&D activities. Read more. |
British Virgin Islands
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
British Virgin Islands |
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Tax legislation approved and regulatory update |
Tax compliance |
10 August 2022 |
The tax authority of the British Virgin Islands issued amendments to the FATCA and common reporting standard legislation. Read more. |
Canada
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Canada |
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Proposed legislation |
Tax compliance |
25 August 2022 |
Draft beneficial ownership reporting requirements for trusts effective for tax years ending after 30 December 2022. Read more. |
Proposed legislation |
Various tax topics |
18 August 2022 |
Draft legislation released on 9 August 2022, provides details on the Canada recovery dividend, the additional 1.5% tax on banks and life insurers and tax changes to address International Financial Reporting Standards for Insurance Contracts (IFRS 17). Read more. |
Proposed legislation |
Income tax |
18 August 2022 |
Draft legislation concerning the excessive interest and financing expenses limitation rules is proposed to apply to tax years beginning in 2023. Read more. |
Proposed legislation |
Income tax |
17 August 2022 |
Ontario reintroduces 2022 budget bill, which includes various corporate income tax measures. Read more. |
Proposed legislation |
Income tax |
17 August 2022 |
Possible changes to the general anti-avoidance rule that will affect how the CRA and courts address potential aggressive tax planning. Read more. |
Proposed legislation |
Tax compliance |
17 August 2022 |
Amended draft legislation to expand the mandatory disclosure requirements. Read more. |
Tax legislation approved and regulatory update |
Income tax |
05 August 2022 |
Increases to interest rates for income tax purposes and for pertinent loan or indebtedness purposes, fourth quarter of 2022. Read more. |
KPMG Publication |
Various tax topics |
05 August 2022 |
Overview tax relief available from federal and Québec governments to businesses seeking to contribute to sustainable clean technologies. Read more. |
Costa Rica
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Costa Rica |
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Tax legislation approved and regulatory update |
Tax compliance |
15 August 2022 |
The filing deadline for tax returns of dormant entities has been extended to 15 November 2022. Read more. |
Mexico
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Mexico |
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KPMG Publication |
Transfer pricing |
30 August 2022 |
Transfer pricing documentation required by taxpayers in Mexico that carry out derivative financial transactions with related parties. Read more. |
Uruguay
Tax area concerned |
Relevant date |
Description of measures and publication link |
|
Uruguay |
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Proposed legislation |
Income tax |
03 August 2022 |
Proposed changes to Uruguay's income tax on economic activities. Read more. |
United States
United States |
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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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