International Tax Newsletter: Americas

International Tax Americas February 2019

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Europe and Africa Regions between 1 February 2019 and 28 February 2019.

Canada	Costa Rica	United States
Cayman Islands	Mexico
Colombia	Uruguay

For a full summary of global tax developments, visit home.kpmg/taxnewsflash.

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

To register for the International Tax webcasts, click here.

Canada

Tax legislation approved and regulatory update	Federal budget	19 March 2019	Canada’s federal budget 2019 is scheduled to be tabled on Tuesday, 19 March 2019. Read more
Tax legislation approved and regulatory	Budget	19 February 2019	British Columbia’s Finance Minister Carole James delivered the province’s 2019 budget on February 19, 2019. Read more
Tax legislation approved and regulatory update	Provincial sales tax	February 2019	Businesses outside Saskatchewan may be required to register and collect the provincial sales tax in that province, following legislative changes. Read more
Tax legislation approved and regulatory update	Substance requirements	February 2019	Legislation provides economic substance requirements for certain Cayman-based entities (including certain foreign companies registered under the Cayman Companies Law (2018)) that are engaged in certain “relevant activities.” Read more

Cayman Islands

Tax legislationand regulatory update

Substance requirements

February 2019

Legislation provides economic substance requirements for certain Cayman-based entities (including certain foreign companies registered under the Cayman Companies Law (2018)) that are engaged in certain “relevant activities.”

Colombia

Tax legislation
and regulatory update

Various tax areas

February 2019

KPMG in Colombia has prepared a report that briefly describes the recent tax and regulatory developments.

Costa Rica

Tax legislation approved and regulatory update

Tax residence certificates

February 2019

The tax administration issued guidance concerning the determination of tax residence and guidelines relating to applications for tax residence certificates.

Tax legislation approved and regulatory update

Tax compliance

22 February 2019

The Ministry of Finance posted an announcement on its website that the due date for submitting information to the ultimate beneficiary registry has been extended to 1 September 2019.

Proposed legislation

VAT / Tax compliance

15 February 2019

A draft law aims to categorize and give recognition to electronic invoices so that they are treated as valid documents for collection process purposes.

Mexico

Tax legislation approved and regulatory update

Tax incentives

30 January 2019

A tax resolution published in the official gazette reflects various certain changes under Mexico’s tax law, including tax incentives in northern border region.

Uruguay

Tax legislation approved and regulatory update

Tax incentives

February 2019

The scope of transactions has been expanded with regard to entities operating in “free zones” (zonas francas) and specifically concerning transactions with others in non-free zone areas.