Americas International Tax Newsletter

Argentina 

Colombia 

US

Brazil

Ecuador

The Argentine government issued a decree that provides updated references to the income tax law and includes new tax regulations concerning permanent establishment, foreign stock transfers, thin capitalization, other provisions.

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Law 27,541 introduces a package of emergency tax measures to assist in recovery from the economic crisis.

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Tax legislation approved and regulatory update

Tax settlements

17 October 2019

Provisional Measure no. 899 was issued to regulate the requirements and conditions for Brazil’s federal government to settle tax disputes with taxpayers and to resolve their unpaid tax debts.

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Tax legislation approved and regulatory update

Budget

5 December 2019

Alberta's 2019 budget bill received Royal Assent.

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Guidance addresses the notion of tax paid-up capital and eligibility for the dividend tax credit in Quebec.

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The Department of Finance, in a recent “comfort letter,” stated that it will recommend amending the income tax law and regulations to allow a current year deduction for certain previously excluded provincial or territorial mining taxes.

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Finance is pushing back the implementation date for its new employee stock option regime.

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The Department of Finance has recommended allowing broader access to the principal residence exemption for certain trusts.

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Canadian taxpayers need to consider whether their withholding tax obligations will change now that Canada has ratified the multilateral instrument (MLI).

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The withholding tax rate under the Canada-Chile income tax treaty has been reduced retroactively.

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Canadian importers and exporters need to consider how they will be affected by the pending trade agreement with the United States and Mexico.

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Proposed legislation

Various tax areas     

December 2019

A bill that aims to promote economic growth and that includes tax measures has advanced during the legislative phase.

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Tax legislation approved and regulatory update

Tax compliance  

December 2019

The tax authority has provided a form to allow for multiple tax payments.

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Tax legislation approved and regulatory update

Tax reform 

9 December 2019

The Mexican tax reform for 2020 includes measures to address tax evasion and to expand the tax base so as to increase tax collection efforts. The legislative process has been completed, and the reform legislation was published in the official gazette.

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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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