Americas - International Tax Newsletter

International Tax Americas April 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 April and 30 April 2022.

Bolivia	Brazil
Canada	Cayman Islands
Costa Rica	Mexico
Panama

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

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

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Bolivia

	Tax area concerned	Relevant date	Description of measures and publication link
Bolivia
Tax legislation approved and regulatory update	Tax compliance	25 April 2022	Guidance that extends through 31 May 2022 the deadline for filing certain reports and statements relating to Corporate Income Tax for the tax period ended 31 December 2021 Read more.

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Brazil

	Tax area concerned	Relevant date	Description of measures and publication link
Brazil
Proposed legislation	Transfer pricing	13 April 2022	Representatives of the government of Brazil and the OECD's Centre for Tax Policy and Administration to consider revisions to transfer pricing rules. Read more.
Proposed legislation	Transfer pricing	12 April 2022	Representatives of the government of Brazil (including the Minister of the Economy) and the OECD's Centre for Tax Policy and Administration met today, 12 April 2022, in Brasilia to consider revisions to Brazil's transfer pricing rules. Read more.

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Canada

	Tax area concerned	Relevant date	Description of measures and publication link
Canada
Proposed legislation	Various tax topics	28 April 2022	Changes to corporate incentives in Saskatchewan reflect measures in the province's 2022 budget, as delivered on 23 March 2022. Read more.
Proposed legislation	Various tax topics	12 April 2022	Tax measures that may have important implications for financial institutions (including banks and insurance companies). Read more.

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Cayman Islands

	Tax area concerned	Relevant date	Description of measures and publication link
Cayman Islands
Tax legislation approved and regulatory update	Income tax	13 April 2022	Enforcement guidelines related to the common reporting standard regime issued. Read more.

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Costa Rica

	Tax area concerned	Relevant date	Description of measures and publication link
Costa Rica
Tax legislation approved and regulatory update	Tax administration	26 April 2022	Rules relating to the payment of tax obligations due beginning 18 April 2022. Read more.

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Mexico

	Tax area concerned	Relevant date	Description of measures and publication link
Mexico
Tax legislation approved and regulatory update	Income tax	20 April 2022	Guidance with respect to the requirement for periodic reporting by subcontractors. Read more.
KPMG Publication	Transfer pricing	20 April 2022	An advance pricing agreement (APA) is no longer an alternative mechanism for resolving tax and transfer pricing obligations of maquiladora companies beginning 2022. Read more.

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Panama

	Tax area concerned	Relevant date	Description of measures and publication link
Panama
Tax legislation approved and regulatory update	Tax compliance	20 April 2022	A list of reportable jurisdictions with which Panama must automatically exchange financial accounts information for tax purposes updated for 2022. Read more.