Americas
KPMG TaxNewsFlash reports of tax developments in the Western Hemisphere
News
Canada: Relief for businesses affected by tariffs
Import tariff relief for automakers, and six-month relief for certain goods imported from the United States
April 18, 2025
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Antigua and Barbuda: Country-by-country (CbC) reporting and transfer pricing rules; MCAA for CbC reports
BEPS Bill 2025 set to take effect in January 2026
April 17, 2025
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Grenada: Indirect tax measures in 2025 budget
Proposed extension of VAT exemptions on essential goods
April 17, 2025
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Saint Lucia: Amendment clarifies stamp duty exemption excludes immovable property
2022 law applies exclusively to transactions involving movable property
April 17, 2025
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Dominican Republic: Proposed reduction of tax incentives across multiple sectors
Changes to the tax on free zone business and “special border development zone” incentives, among others
April 16, 2025
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Canada: New 10% tax on foreign purchasers of residential properties (Toronto)
The City of Toronto implemented a 10% tax on the purchase of residential properties by foreign entities effective January 1, 2025.
April 15, 2025
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Canada: Tax measures in 2025 budget (Prince Edward Island)
Proposed changes to corporate, individual, and indirect taxes
April 15, 2025
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Mexico: Guidance on payment and calculation of tax on polluting gas emissions (Mexico City)
Taxpayers must register with digital contribution administration system
April 15, 2025
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Chile: Updated list of jurisdictions with preferential tax regimes; other direct and indirect tax developments
Summary of recent direct and indirect tax developments
April 14, 2025
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Brazil: Proposed contribution for digital content that targets children
“Digital detox” contribution (CIDE–Digital Detox)
April 10, 2025
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Canada: No changes to income tax rates in 2025 budget (Newfoundland and Labrador)
Eligibility threshold for the “seniors’ benefit” would be indexed to the consumer price index.
April 10, 2025
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Brazil: New guidelines for e-invoicing layouts due to tax reform
New expected timeline for implementation of the layout
April 8, 2025
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Colombia: Application terms for participation in 2025 program providing tax benefits for contributions to arts, culture, and heritage projects
Applications may be submitted between March 10, 2025, and October 31, 2025.
April 4, 2025
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Canada: Elimination of federal fuel charge effective April 1, 2025
Businesses previously registered for the FFC will have their registrations canceled by November 1, 2025.
April 1, 2025
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Canada: Overview of latest tax changes
Including deferral of certain income tax payments and GST/HST remittances
March 27, 2025
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Canada: Tax measures in 2025 budget (Quebec)
Overhaul of the scientific research and experimental development (SR&ED) tax credit regime
March 27, 2025
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Costa Rica: Gradual reduction of selective consumption tax on various goods
Executive Decree No. 44921-MH published March 25, 2025
March 27, 2025
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Chile: Clarification regarding responsibility for payment of withheld taxes; other direct and indirect tax developments
A report summarizing recent direct and indirect tax developments
March 26, 2025
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Colombia: “Works for Taxes” mechanism implemented for Bogotá
Mechanism for taxpayers to pay district taxes through executed projects
March 26, 2025
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Canada: Tax measures in 2025 budget (Manitoba)
No changes to corporate or individual (personal) tax rates, but includes some direct and indirect tax changes
March 21, 2025
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Brazil: Proposed 10% withholding tax on dividends to foreign investors
Effective as of 2026
March 20, 2025
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Canada: Tax measures in 2025 budget (New Brunswick)
No changes to corporate or individual (personal) tax rates or new tax credits
March 20, 2025
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Canada: Tax measures in 2025 budget (Saskatchewan)
No changes to corporate or individual (personal) tax rates, but includes some direct and indirect tax changes
March 20, 2025
News
Colombia: Customs sanctioning scheme held unconstitutional (Constitutional Court decision)
To avoid regulatory vacuum, judgment deferred until June 30, 2026
March 18, 2025
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Costa Rica: Draft guidance on new requirements for taxpayers during tax audits
Aimed at enhancing tax administration efficiency through digital means
March 13, 2025
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Argentina: VAT and income tax withholding regimes for mining sector
Includes possibility of filing exclusion certificates
March 13, 2025
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Dominica: Mutual agreement procedure (MAP) guidelines
Guidelines clarify that Dominica does not offer bilateral advance pricing agreements (APAs)
March 12, 2025
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Barbados: Monthly corporation tax prepayment requirements
Beginning in 2025, all companies are required to prepay corporation tax on a monthly basis, except for companies registered as approved small businesses.
March 12, 2025
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Jamaica: Tax measures in 2025/2026 budget
Direct and indirect tax proposals
March 12, 2025
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Barbados: Tax measures in 2025 budget
Direct and indirect tax proposals
March 11, 2025
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Canada: Late amendment by tax authority in transfer pricing dispute allowed (Tax Court decision)
Amendment made after deadline for competent authority relief under treat had expired
March 11, 2025
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Dominican Republic: Tax credit for e-invoicing implementation
Guidance on the process for taxpayers to claim a tax credit
March 10, 2025
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Costa Rica: Updated tax brackets for moveable property for 2026; threshold for real estate tax exemption for 2025
Also updated fixed taxes for taxis, buses, and heavy cargo vehicles
March 6, 2025
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Belize: Tax administration announces upcoming e-invoicing mandate
Effective date has not been announced
March 5, 2025
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Canada: Tax measures in 2025 budget include real estate tax, film-related changes (British Columbia)
No proposed changes to the corporate or individual (personal) tax rates
March 5, 2025
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Colombia: Draft guidance modifying e-invoicing requirements
Guidance would introduce a mechanism to facilitate identification of the purchaser
March 5, 2025
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Argentina: Suspension of withholding tax and VAT on certain imported goods ended March 1
Suspension ended through General Resolution 5655/25
March 4, 2025
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Canada: Tax provisions in 2025 budget (Alberta)
Existing corporate income tax rates maintained, but various direct and indirect tax changes proposed
February 28, 2025
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Saint Kitts and Nevis: Guidance on reduced VAT rate for first half of 2025
Standard VAT rate reduced from 17% to 13%
February 27, 2025
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Brazil: Guidance on extended tax benefits related to tax on industrialized products
Extension applies to sales made until December 31, 2026
February 21, 2025
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Chile: Updated procedures for transfer pricing adjustments; other direct and indirect tax developments
A report summarizing recent direct and indirect tax developments
February 21, 2025
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Colombia: Temporary taxes to alleviate internal crisis
Including 19% VAT on online gaming, 1% tax on crude oil sales and exports, and 1% stamp tax
February 21, 2025
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Canada: Tax proposals in 2025 budget (Nova Scotia)
Tax rate changes and increased thresholds for small businesses
February 20, 2025
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Netherlands: 2025 tax plan for BES Islands submitted to Parliament
Plan would reinstate key tax measures for BES Islands
February 20, 2025
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Bahamas: Instructions for new VAT stamp portal
VAT stamp portal for online submissions and payments
February 18, 2025
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Panama: Implementation of new form and tax code for SEM withholdings
New form and tax code for SEM withholdings effective February 12, 2025
February 18, 2025
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Panama: Updated tax compliance deadlines and regulatory requirements
Tax developments include a deadline extension and new regulatory obligations for resident agents and legal entities
February 17, 2025
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Anguilla: Tax measures in 2025 budget
No new taxes, but proposals to reform bulk petroleum levy and eliminate sales tax on food
February 14, 2025
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Barbados: Extension of digital transformation tax credit
Credit extended until December 31, 2025
February 14, 2025
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Costa Rica: Proposed amendments to procedures for international tax information exchange
Proposed amendments include enhancing frameworks for automatic exchange of tax information
February 14, 2025
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Saint Kitts and Nevis: Guidance regarding VAT compliance for income from short-term rentals through online platforms
Full enforcement of compliance requirements began January 1, 2025
February 14, 2025
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Saint Lucia: Proposed VAT exemptions for tourism sector, extension of moratorium on residential property tax
Prime Minister proposed tax-related measures
February 14, 2025
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Costa Rica: Deadline to implement changes in e-invoices extended
New deadline is September 1, 2025
February 13, 2025
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Costa Rica: Agreement on new strategic sectors for manufacturing companies under free trade zone regime
Sectors defined as strategic for 12-year term
February 13, 2025
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Costa Rica: Guidance on obligation of certain taxpayers to submit annual transfer pricing information return
Guidance includes format of return and instructions
February 13, 2025
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Uruguay: Updated list of low or no tax jurisdictions
Updated list effective January 1, 2025
February 13, 2025
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Colombia: Reporting obligations for digital platform operators implemented
Resolution 199 of 2024
February 11, 2025
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Mexico: Payroll tax benefit rules for 2025 (Mexico City)
For taxpayers considered micro or small businesses
February 10, 2025
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Canada: Tax increase to capital gains deferred to 2026
Taxpayers will not need to account for the proposed increase in 2024 tax filings.
February 3, 2025
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Latest tax developments from the United States and from KPMG member firms around the globe
News
Dominican Republic: Proposed changes to withholding tax in livestock sector, guidance on capital returns by trusts and transfers of real estate
Proposals and guidance from the Directorate General of Internal Revenue
January 30, 2025
News
Honduras: Average minimum wage for FY2025
Information is relevant for individual income tax and penalty regime
January 29, 2025
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Jamaica: Tax settlement program waives interest, penalties, and surcharges
Principal taxes must be paid off by March 31, 2025
January 29, 2025
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Panama: New income tax return form for taxpayers in Colon Free Zone
The new form must be used to file the income tax return for the 2024 fiscal period.
January 29, 2025
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Venezuela: Regulations regarding requirements for providers of computer systems used to issue invoices, other tax documents
Taxpayers required to use approved computer systems and have until March 20, 2025, to comply
January 29, 2025
News
Colombia: Tax authority clarifies tax treatment for holding companies
Guidance on the coexistence of the corporate income tax ordinary regime and the special CHC regime for Colombian holding companies
January 27, 2025
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Chile: Unemployment fund management company qualifies for benefits of U.S. income tax treaty; other direct and indirect tax developments
A report discussing recent direct and indirect tax-related topics
January 23, 2025
News
Argentina: Special procedure for refunds of PAIS tax
Special procedure provided through General Resolution 5638/25
January 21, 2025
News
Guyana: Tax proposals in 2025 budget
Proposals related to income tax, VAT, and excise tax
January 21, 2025
News
Mexico: New tax incentives under “Plan Mexico”
Accelerated tax depreciation and additional deduction for training and innovation
January 21, 2025
News
KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker, updated January 2025)
Details existing legislation and contains information regarding upcoming regulations
January 21, 2025
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Mexico: Changes to sales tax on alcoholic beverages (various states), property tax increases in various municipalities (Nuevo León)
Changes and increases effective January 1, 2025
January 17, 2025
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Honduras: New obligation to submit financial statements with income tax returns, updated withholding tax tables applicable to salaries
A new obligation for all natural and legal persons and a new withholding tax table
January 14, 2025
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Mexico: Miscellaneous tax resolution for 2025 regarding payroll electronic invoices (CFDI)
The tax administration announced through the miscellaneous tax resolution for 2025 the following provision applicable to payroll electronic invoices.
January 14, 2025
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Paraguay: Expanded list of taxpayers required to issue electronic invoices
The tax administration designated new large and medium taxpayers as issuers of electronic invoices.
January 14, 2025
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Mexico: Tax measures in miscellaneous fiscal resolution for 2025
Tax measures effective from January 1, 2025, to December 31, 2025
January 9, 2025
News
Canada: 2024 tax rates and other changes to consider for tax accounting purposes
Changes that may need to be reflected in year-end financial statements
January 8, 2025
News
Canada: Parliament suspended until March 2025, effect on tax legislation
Any government bills that have not yet received Royal Assent are considered to cease to exist.
January 8, 2025
News
KPMG report: Shipping and offshore tax update (January 2025)
Global tax-related developments relevant for companies involved in shipping and related industries
January 8, 2025
News
Anguilla: GST compliance announcement for commercial rental properties
Unregistered commercial rental properties to face penalties, fines, or legal action
January 7, 2025
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Barbados: Extension of deadline for country-by-country reports
Extension for MNE groups with fiscal year-ends between October 1 and December 31, 2023, until January 31, 2025
January 6, 2025
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El Salvador: Program to enhance audit and investigation capabilities for tax crimes and transfer pricing
Program aimed at reducing tax evasion and increasing tax collection
January 6, 2025
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Argentina: Rate and maximum amounts of statistics fee on certain imports
Rate and maximum amounts effective as of January 1, 2025
January 3, 2025
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Mexico: Amendments to city tax code for 2025 (Mexico City)
Includes adjustments to fees and tariffs for inflation and other updates
January 3, 2025
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Argentina: Suspension of withholding tax and VAT on certain imported goods
Suspension extended until June 30, 2025
January 2, 2025
Tax Services
News
Venezuela: Regulations regarding use of digital media for issuance of invoices
Certain taxpayers required to use digital means for issuance of invoices
December 30, 2024
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Peru: Regulation implementing VAT compliance obligations for nonresident digital services providers
Regulation is effective January 1, 2025.
December 27, 2024
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Martinique: Agreement to review various fiscal measures, including VAT and customs exemptions for certain products
Measures are set to become effective in January 2025.
December 26, 2024
News
Argentina-China income tax treaty entered into force
Income tax treaty entered into force on November 26, 2024
December 20, 2024
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Brazil: Key changes to tax reform bill
After approval by the Lower Chamber of Congress, the tax reform bill is now poised for presidential assent.
December 20, 2024
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Canada: Overview of recent indirect tax changes
Summary of significant developments related to GST/HST, QST, PST, and other indirect taxes
December 20, 2024
News
Chile: Application of U.S. income tax treaty to royalties on feature film; other direct and indirect tax developments
A report discussing recent direct and indirect tax-related topics
December 20, 2024
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Canada: Large businesses must register for digital services tax by January 31, 2025
Affected businesses that earn specific kinds of online revenues meeting certain thresholds must register by January 31, 2025
December 19, 2024
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Canada: Updated guidance on forced labour and child labour reporting requirements
Guidance intended to assist organizations in preparing for the reporting deadline on May 31, 2025
December 18, 2024
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Argentina: Deadline to pay PAIS tax extended until December 26
PAIS tax payment deadline extended to December 26, 2024
December 17, 2024
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Canada: Tax proposals in 2024 federal fall economic update
It is unclear whether the tax measures announced in the 2024 fall economic update will be enacted.
December 17, 2024
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Colombia: Each participant in joint contract entitled to claim proportional share of withholding taxes
Rule providing managing partner solely entitled to claim withholding tax annulled
December 16, 2024
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Chile: Draft guidance clarifying VAT obligations of nonresident sellers
Draft circular proposes to clarify the VAT sourcing rules for remote services and new VAT collection obligations for remote sellers of goods
December 13, 2024
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Costa Rica: Miscellaneous stamp tax reforms
Repeal of various stamp taxes
December 11, 2024
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Brazil: Further updates to electronic invoicing due to tax reform
Additional validation rules to be used for calculating amount of the new indirect taxes
December 10, 2024
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Peru: Draft regulation implementing VAT compliance obligations for nonresident digital services providers
Draft regulation is proposed to be effective January 1, 2025.
December 9, 2024
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Peru: Tax identification registration requirements for nonresident providers of remote gambling and sports betting services
Persons who qualify as tax collecting agents must also register.
December 9, 2024
News
Dominican Republic: Required registration of person responsible for company’s tax obligations
Notice No. 21-24 requires commercial companies to identify an individual responsible for the company's tax obligations.
December 2, 2024
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El Salvador: Guide on tax havens; tax incentives for skyscraper development
Recent tax-related developments
December 2, 2024
News
Jamaica: Reverse income tax credit for certain low-income individuals
Applications are due December 2, 2024
November 27, 2024
News
Saint Vincent and the Grenadines: Tax reform measures effective January 2025
Raises the income tax exemption threshold to ECD25,000
November 27, 2024
News
Brazil: Consultation on draft guidance implementing cryptoasset reporting
The consultation will run from November 7, 2024, to December 6, 2024.
November 22, 2024
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Canada: Proposed temporary GST/HST exemption on consumer goods
No specific details yet on how proposed exemption would apply
November 22, 2024
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Canada: Tax provisions in 2024 fall economic update (Quebec)
Includes several proposed changes to the tax credit for career extension and certain changes related to Quebec’s increase to the capital gains inclusion rate
November 22, 2024
News
Trinidad and Tobago: Tax amnesty proposal in Finance Bill 2024
Waiver of penalties and interest for various taxes
November 22, 2024
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Chile: Tax treatment of transfer of invoices to U.S. resident company; other direct and indirect tax developments
A report discussing recent direct and indirect tax-related topics.
November 21, 2024
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Barbados: Filing extension for country-by-country notifications; other tax developments
Recent developments also concern economic substance exchange jurisdictions and land tax adjustments
November 20, 2024
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Colombia: Tax authority issues guidance on application significant economic presence rule
Tax authority’s ruling addresses several taxpayer questions regarding the SEP provisions
November 20, 2024
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Costa Rica: New technical provisions for e-invoices
New provisions will come into effect on June 1, 2025
November 20, 2024
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Mexico: Economic package includes tax incentive modifications
The economic package does not propose new taxes or increases to existing taxes.
November 20, 2024
News
Dominican Republic: Tax authority clarifies rules on e-invoicing system
Mandates electronic billing for registered taxpayers
November 19, 2024
News
Dominican Republic: Proposed legislation to repeal exemptions from tax on issuance of checks and electronic transfers
Comments are due by December 13, 2024.
November 19, 2024
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Bahamas: Proposed Pillar Two legislation
Minimum effective tax rate of 15% for MNE groups with global revenues exceeding €750 million
November 12, 2024
News
Canada: Year-end tax considerations for company owners, managers
Important tax issues company owners and managers may want to consider in assessing their 2024 tax situation
November 12, 2024
News
Costa Rica: Electronic invoicing regulations
Adjustments related to electronic invoicing obligations
November 12, 2024
News
El Salvador: Guidance to identify low or no taxation jurisdictions
The tax administration published a guide to help taxpayers identify low or no taxation jurisdictions.
November 12, 2024
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Costa Rica: Automatic exchange of information for sellers on digital platforms
Digital platform operators must implement the provisions and due diligence procedures starting January 1, 2025.
November 8, 2024
News
Panama: Tax amnesty for payment of national taxes
Tax amnesty period until December 31, 2024, for payment of interests and penalties accrued
November 7, 2024
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Colombia: Obligation to generate electronic payroll payment support document for payments in kind
Clarification of obligation to generate electronic payroll payment support document
November 7, 2024
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Colombia: E-invoice requirements for tax deductions in credit operations
The National Tax and Customs Directorate clarified requirements for e-invoices as support for costs, deductions, and deductible taxes in credit operations.
November 6, 2024
News
Brazil: Updated layout for VAT and excise tax returns
The updated layout includes changes to validation rules, the addition of new fields, and updates to the mandatory status of certain existing fields.
November 5, 2024
News
Chile: Amendments to transfer pricing rules
Advance pricing agreements (APAs), definitions and specifications of concepts, and self-adjustments
November 4, 2024
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Canada: Direct and indirect tax measures in 2024 Fall Economic Update (Ontario)
The update does not include any changes to the corporate or individual (personal) tax rates.
November 1, 2024
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Argentina: Creation of new federal collection agency (ARCA)
No changes in the tax compliance process have been announced.
October 25, 2024
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Argentina: Income tax treaty with China ratified
The treaty will become effective once Argentina completes its international approval process.
October 25, 2024
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Canada: Surtax relief measures for importers of Chinese goods
Relief applies retroactively to surtaxes paid on EVs imported since October 1, 2024, and on steel and aluminum since October 22, 2024
October 25, 2024
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Mexico: New VAT withholding requirement for platforms facilitating the sales of goods for nonresidents
Requires digital platforms that act as intermediaries between third parties to withhold 100% of the VAT corresponding to the sales of goods
October 25, 2024
News
Mexico: New obligations for crowdfunding platforms to withhold income tax and VAT
Rules became effective on October 12, 2024
October 24, 2024
News
Mexico: Tax authority clarifies definition of digital intermediation services
Amendment to the definition of intermediation of digital services for purposes of the Mexican VAT law
October 24, 2024
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Bolivia: “Twelfth group of taxpayers” to implement online billing modality
Guidance providing that certain taxpayers must adapt and implement their computer billing systems
October 22, 2024
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Dominican Republic: Tax reform bill withdrawn
The president announced the withdrawal of the fiscal reform project from the National Congress legislative agenda.
October 22, 2024
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Chile: Withholding on payments to U.S. residents; reporting by digital platforms; other direct and indirect tax developments
Oficio No. 1763/2024 provides guidance on withholding under Chile-U.S. income tax treaty
October 18, 2024
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Mexico: Modifications to general foreign trade rules affecting IMMEX operations and VAT certifications
The modifications are effective as of October 15, 2024.
October 16, 2024
News
Dominican Republic: Tax reform bill presented to Congress
Proposed reforms involve income tax, VAT, excise tax, and special tax regimes
October 16, 2024
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Chile: New reporting and VAT obligations for digital platforms, remote sellers
While the bill still needs to go through some minor legislative steps before officially becoming Law, no material changes are expected.
October 11, 2024
News
Dominican Republic: Tax reform proposals affecting foreign services and e-commerce
Ministry of Finance presented to Congress the “Project of Fiscal Modernization”
October 11, 2024
News
Costa Rica: New regulations concerning tax exemption regimes
The regulations establish the scope of the beneficiaries, among other things.
October 9, 2024
News
Mexico: Rules for collecting tax on hosting services on digital platforms (Veracruz)
The rules apply to individuals and legal entities that intervene in the collection of the consideration for hosting services by digital means.
October 9, 2024
News
KPMG article: Impact of principal purpose test (PPT) provisions on holding companies in Latin America
PPT provisions make testing availability of treaty benefits for holding companies more complex
October 8, 2024
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Brazil: Implementation of Pillar Two rules establishes qualified domestic minimum top-up tax
Officially aligns Brazil with countries that have adopted the OECD's global anti-base erosion (GloBE) rules
October 7, 2024
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Peru: Amended deadlines for recording invoices, tax authority allowed to generate purchase register
Peru’s tax authority will propose a purchase register including all electronic invoices issued to taxpayers.
October 3, 2024
News
Costa Rica: New law ratifies Revised Kyoto Convention
The international treaty, adopted by the WCO, aims to simplify and harmonize customs procedures globally.
October 2, 2024
News
Trinidad and Tobago: Tax measures proposed in 2025 budget
The 2025 national budget statement includes direct and indirect tax proposals.
October 2, 2024
News
Canada: Revised draft legislation increasing capital gains inclusion rate
Finance released revised draft legislation increasing the inclusion rate for capital gains realized on or after June 25, 2024.
September 30, 2024
News
Chile: Tax compliance bill approved by Congress includes income tax, VAT, and transfer pricing measures
The Tax Compliance Bill, which includes a number of tax measures, was approved by Congress.
September 30, 2024
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Mexico: Temporary restriction of digital seal certificates for issuance of digital tax receipts
The tax authorities may temporarily restrict the use of digital seal certificates for the issuance of digital tax receipts.
September 27, 2024
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Chile: Updated form for large taxpayers; other direct and indirect tax developments
Resolution No. 84/2024 updates and replaces from tax year 2025 the format and content of Form 1913
September 26, 2024
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Costa Rica: New ultimate beneficial owner filing obligations
Various legal entities and figures, previously exempt, are now required to register and declare their ultimate beneficiary owners.
September 25, 2024
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Peru: Changes to APA rules and introduction of new valuation methods
Changes to the transfer pricing regime effective January 1, 2025
September 25, 2024
News
Peru: New VAT rules for nonresident digital services providers
18% VAT on cross-border provision of digital services to consumers located in Peru
September 25, 2024
News
KPMG article: Reconsidering maquiladoras in light of recent tax reforms in Mexico
Why businesses may need to reconsider their Maquiladora tax regime structures
September 23, 2024
News
Peru: Import and export of commodities subject to transfer pricing regulations
Companies must submit Informative Affidavit by the day of arrival for imports and the day of shipment for exports.
September 18, 2024
News
Canada: Consultation on potential surtaxes for certain imports from China
Consultation is open for feedback until October 10, 2024
September 18, 2024
News
Peru: VAT on cross-border provision of digital services (updated)
Implementation of the rules delayed to December 1, 2024
September 13, 2024
News
Panama: Tax amnesty program for Municipality of Panama
Exemption from fines, penalties, and interest for both individuals and legal entities
September 12, 2024
News
Mexico: New requests for refund of previously denied credit balance allowed
Taxpayers must submit a new refund request within the five-year prescription period for the credit balance and correct any defects that the tax authority detected in the first request.
September 11, 2024
News
Peru: Guidance on registration of nonresident withholding agents of VAT on cross-border provision of digital services
Rules for registration in the single taxpayer registry of nonresidents designated as withholding or collection agents of VAT on the cross-border provision of digital services
September 4, 2024
News
Mexico: Subsidies granted for various local taxes (Nuevo Leon)
Agreement granting various subsidies to taxpayers with respect to various local taxes in Nuevo León
August 28, 2024
News
Costa Rica: Supervision, verification, and monitoring of entities subject to CRS reporting
No new procedures or requirements imposed on taxpayers
August 27, 2024
News
Colombia: Guidance on sanctions for failure to meet documentary requirements under electronic billing system
Tax authority issued guidance regarding the scope of sanctions for failure to meet documentary requirements under the electronic billing system
August 27, 2024
News
Peru: VAT on cross-border provision of digital services
Implementation of the rules delayed to December 1, 2024
August 26, 2024
News
Nicaragua: Changes to tax exemptions for non-profit organizations
Law 1212 was enacted on August 22, 2024.
August 26, 2024
News
Argentina: Regulations under new incentive regime for large investments
The Argentine Executive Branch approved the regulations.
August 26, 2024
News
Chile: Proof of U.S. residency under income tax treaty; other direct and indirect tax developments
A KPMG report concerning direct and indirect tax-related topics.
August 23, 2024
News
Costa Rica: New law amends, extends VAT late payment relief and business closure procedures
Law No. 10491 became effective on August 19, 2024
August 22, 2024
News
Costa Rica: Modifications to tax procedure regulations
Clarification that official from appropriate department must issue and sign both resolution that determines tax obligations and punitive resolutions
August 20, 2024
News
Canada: Details on capital gains changes
Finance is accepting comments
August 20, 2024
News
KPMG report: Reassessing operations in Mexico due to maquila tax regime changes
Now is the time to analyze the impact of regulatory changes on operations
August 16, 2024
News
Canada: Proposed changes to trust reporting rules
Finance is accepting comments on the draft legislation until September 11, 2024.
August 15, 2024
News
Costa Rica: New tool for verifying electronic receipts
Resolution mandates the tax administration to introduce a transparent control tool for consulting the status of electronic receipts
August 13, 2024
News
Brazil: Updates on e-invoicing changes due to tax reform
Regulations to introduce the new dual VAT regime under the tax reform bill
August 7, 2024
News
Colombia: Proposed amendments to e-invoicing regulations
Colombian tax authority published proposed amendments to Resolution No. 165 of 2023
July 30, 2024
News
Mexico: Updated qualified maquiladora approach applies to APAs for 2020 to 2024
Updated income estimation mechanics for the years 2020 to 2024
July 29, 2024
News
Venezuela: Implementation of 0% tax rate for large financial transactions tax on certain transactions
Decree 4,972 reduced the rate for the large financial transactions tax to 0% for certain transactions
July 25, 2024
News
Venezuela: New special tax contribution for protection of social security pensions
Rate and rules relating to the filing and payment of the special contribution
July 25, 2024
News
Chile: Optional regime for substitute tax for final taxes
Law No. 21,681 creates an emergency fund and provides other relief for communities in the Valparaíso Region affected by a major fire in February 2024
July 23, 2024
News
Canada: Digital platforms must report seller information by January 31, 2025
New tax reporting requirements, effective from the 2024 calendar year
July 22, 2024
News
Canada: Only Federal Court can review discretionary decisions of tax authority in transfer pricing matters
A Supreme Court decision concerning discretionary decisions of tax authority in transfer pricing matters
July 18, 2024
News
Mexico: Tax administration challenging deductibility, VAT credits for advertising and promotional expenses
The tax administration has been challenging the deductibility of advertising and promotional expenses of Mexican taxpayers.
July 16, 2024
News
Chile: Conceptual engineering costs not eligible for VAT refund on fixed assets; other direct and indirect tax developments
A report containing direct and indirect tax-related topics
July 16, 2024
News
Mexico: New requirements for registering foreign digital service providers
Two new requirements for registering foreign digital services providers in Mexico
July 16, 2024
News
Argentina: New incentive regime for large investments approved
The Argentine Congress approved an incentive regime for large investments.
July 12, 2024
News
KPMG report: Transfer pricing in Brazil
A report on how multinational enterprises must quickly work to analyze and carefully document their operations for transfer pricing purposes
July 11, 2024
News
Chile: Updated invoice and document requirements for VAT
Description of products or services being rendered must be clearly indicated
July 10, 2024
News
Colombia: Labor reform proposal approved by Parliament
Approved in the first debate by the Seventh Commission of the House of Representatives
July 8, 2024
News
Canada: Digital services tax now in effect
Affected businesses will have to register with the CRA by January 31, 2025
July 8, 2024
News
Mexico: Special tax on production and services not includible in VAT base (court decision)
It is unconstitutional for special tax on production and services payments made to be included in calculating the base for VAT.
June 27, 2024
News
KPMG report: Global developments in ESG-related taxes, incentives, and grants (ESG tax tracker, updated June 2024)
Existing legislation and upcoming regulations under consideration
June 26, 2024
News
Mexico: Updated version of CFDI’s e-waybill supplement
The Mexican tax authorities released a new version of the CFDI's e-waybill supplement (Complemento de Carta Porte).
June 25, 2024
News
Costa Rica: Guidance for VAT-exempt taxpayers
2% VAT rate applies to private education services
June 25, 2024
News
KPMG report: Mexico’s general anti-abuse rule does not apply retroactively (Federal Tax Court decision)
A KPMG report that discusses the decision and implications for taxpayers.
June 14, 2024
News
Canada: Details on capital gains changes proposed in 2024 federal budget
Details on proposal in 2024 federal budget to increase inclusion rate for capital gains
June 12, 2024
News
Colombia: Increased e-invoicing audits
Increased electronic invoicing-related audits and inspection visits due to non-compliance
June 4, 2024
News
Chile: Tax treatment of income from import and distribution agreement; other direct and indirect tax developments
Import and distribution agreement between a winery resident in Chile and a company resident in the United States
May 21, 2024
News
Mexico: Updated criteria for importation of “sensitive goods” under 8th rule
The Ministry of Economy updated its criteria for the temporary importation of “sensitive goods” under the “8th rule.”
May 21, 2024
News
Canada: CBSA Assessment and Revenue Management (CARM) mandatory registration extended to October 2024
Companies importing goods into Canada must register in the Canada Border Services Agency (CBSA) Assessment Revenue Management (CARM) Client Portal
May 15, 2024
News
KPMG report: Impact of Brazil's indirect tax reform proposal on nonresidents
Brazilian indirect tax reform supports destination-based taxation and adopts key VAT principles for the digital economy
May 14, 2024
News
Costa Rica: Public consultation on draft law introducing reporting obligations for digital platform operators
The aim is to adopt the OECD’s Model Reporting Rules for digital platforms.
May 13, 2024
News
Costa Rica: Updated CRS procedures
Reinforces which financial entities are required to exchange information and provides guidelines for the submission of information
May 13, 2024
News
Canada: Sales tax changes target digital products and services (British Columbia)
Changes apply retroactively to 2013 and broaden certain definitions under the provincial sales tax rules
May 10, 2024
News
Canada: Federal budget proposals affecting charities
New changes proposed in the 2024 federal budget
May 7, 2024
News
Bolivia: Changes to procedures for export tax refund requests with surety insurance policy on first demand
Tax authority guidance—RND No. 102400000014
May 7, 2024
News
Colombia: Guidance on application of the significant economic presence rule
Colombian tax authority official interpretation on the application of the significant economic presence rule
May 6, 2024
News
Costa Rica: Recent customs-related developments
Binding tariff classification criteria for electric and hybrid vehicles
May 3, 2024
News
Canada: Additional consultation on R&E program
Comments must be submitted by 27 May 2024.
April 29, 2024
News
Mexico: New decree modifies general import and export tax law
Maintains tariffs for certain goods but imposes different tariff fractions on others
April 26, 2024
News
Bolivia: “Eleventh group of taxpayers” to implement online billing modality
Guidance providing that certain taxpayers must adapt and implement their computer billing systems
April 25, 2024
News
Bolivia: Guidance on requests for refunds of export taxes
Requirements and procedures for the presentation of export tax refund requests
April 25, 2024
News
Mexico: Guidance on determination of business profits under tax treaties
Guidance indicates that not all income derived from performance of lawful business activity will be considered “business profits” under tax treaties
April 25, 2024
News
Bolivia: Extended deadline for filing corporate income tax forms, statements
Guidance that extends through 31 May 2024 the deadline for filing certain reports and statements relating to corporate income tax
April 22, 2024
News
Canada: Tax measures in 2024 federal budget
The Deputy Prime Minister and Finance Minister delivered Canada's 2024 federal budget.
April 17, 2024
News
Bolivia: Changes to the regulations for the refund of export taxes
New modality of export tax refund to facilitate the processing of tax refund requests
April 17, 2024
News
Bolivia: Term of payment facilities reduced
The tax authority issued guidance reducing the term of payment facilities.
April 17, 2024
News
Chile: Assets sold under antitrust rules qualify as fixed assets; other direct and indirect tax developments
Recent direct and indirect tax-related developments
April 16, 2024
News
Canada: Reminder of 30 April 2024 deadline for tax on cross-border insurance
Federal tax imposed at a rate of 10% on insurance premiums
April 11, 2024
News
Chile: Correcting erroneous VAT invoices under tax-exempt housing construction project
Other direct and indirect tax developments
April 4, 2024
News
Canada: Direct and indirect tax measures in 2024 budget (Manitoba)
No changes to the corporate or individual (personal) tax rates
April 3, 2024
News
Canada: Relief for bare trusts from new information reporting requirements
Bare trusts will no longer have to meet new trust information reporting obligations for their 2023 tax year
March 29, 2024
News
Canada: Direct and indirect tax measures in 2024 budget (Ontario)
Ontario’s Finance Minister delivered the province’s 2024 budget on 26 March 2024.
March 27, 2024
News
Chile: Tax reform bill introduces VAT liability for sales of low-value goods
Tax authority expected to issue further guidance to clarify the proposed regime
March 27, 2024
News
Mexico: “Volumetric controls” for self-consumption of natural gas
Miscellaneous Fiscal Resolution establishes obligation to carry out “volumetric controls” for for self-consumption of natural gas
March 25, 2024
News
Canada: Tax measures in 2024 budget (Newfoundland and Labrador)
The budget would reduce the province’s small business income tax rate to 2.5%.
March 22, 2024
News
Canada: Tax measures in 2024 budget (Saskatchewan)
No changes to individual tax rates
March 21, 2024
News
Canada: Tax measures in 2024 budget (New Brunswick)
No changes to the corporate or individual tax rates
March 20, 2024
News
Barbados: New tax credits for various sectors proposed in 2024 budget
The 2024 Barbados budget proposes new tax credits for the technological, social, cultural, environmental, and other sectors.
March 19, 2024
News
Canada: Tax measures in 2024 budget (Quebec)
No changes to corporate or individual (personal) income tax rates
March 14, 2024
News
Jamaica: Tax measures in 2024-2025 budget
Proposed tax changes included in budget
March 14, 2024
News
Bolivia: Guidance on exemption from financial transactions tax for certain diplomatic organizations
RND N°102400000008 (7 March 2024)
March 12, 2024
News
Bolivia: Guidance on correction of invoices in the registry of purchases and sales
RND N°102400000009 (8 March 2024)
March 12, 2024
News
Bermuda: No new taxes in 2024-2025 budget
The budget proposes no new taxes or tax increases on employees or employers.
March 6, 2024
News
Bolivia: Deadline for filing and payment of financial transaction tax extended to 8 March 2024
The deadline for the presentation of affidavits and payment of taxes for the financial transaction tax is extended until 8 March 2024.
March 6, 2024
News
Colombia: Corporate compliance for legal entities with presence in Colombia (2024)
Summary of the corporate, commercial, customs, and foreign exchange obligations for 2024
March 1, 2024
News
Canada: Tax measures in 2024 provincial budgets (Alberta, Nova Scotia, Prince Edward Island)
Proposed tax changes
March 1, 2024
News
Canada: Tax measures in 2024 budget include real estate tax changes (British Columbia)
No proposed changes to the corporate or individual (personal) tax rates
February 23, 2024
News
Dominican Republic: Minimum wage for social security contributions
Contribution threshold for family health insurance, labor risks insurance, and the old age, disability and survivors insurance
February 16, 2024
News
Argentina: Tax relief for small, medium taxpayers, non-profit and health sectors
Start of tax execution trials suspended until 31 July 2024
February 15, 2024
News
Canada: Annual report concerning efforts to prevent forced labor in supply chains
The first reporting deadline is May 31, 2024.
February 15, 2024
News
Mexico: Updated platform for filing monthly VAT returns
New format includes preloaded information based on the amounts of the e-invoices (CFDIs) issued and received
February 7, 2024
News
Canada: Consultation on R&E program, patent box regime
Comments due by 15 April 2024
February 5, 2024
News
KPMG report: Mexican rulings on exportation of services eligible for 0% VAT
Multinational corporations with Mexican subsidiaries need to properly assess VAT treatment of cross-border operations
February 2, 2024
News
Mexico: Tax master plan 2024
Details actions authorities will implement in terms of audits, collection, and taxpayer assistance
February 1, 2024
News
Colombia: Modified tax Form 490 includes significant economic presence corporate income tax payments
Colombian tax authority (CTA) issued Resolution No. 4 modifying tax Form 490
February 1, 2024
News
Colombia: Proposed amendments to e-invoicing regulations
Extended implementation deadlines of electronic documents and adjustment notes
February 1, 2024
News
Mexico: Application of VAT to exported services (court decision)
A court decision concerning the application of VAT to exported services
January 31, 2024
News
Colombia: New deadlines for transfer pricing documentation
Informative declaration, CbC notification, Local file, Master file, CbC report
January 26, 2024
News
Bolivia: Extended deadline for filing, payment, and compliance with RC-VAT tax obligations for direct taxpayers
The tax authority issued guidance extending the deadline for filing, payment, and compliance with RC-VAT tax obligations.
January 25, 2024
News
Bolivia: List of taxpayers whose invoices are ineligible for VAT credit and tax deduction
Three lists of taxpayers whose invoices are not valid for VAT credit or deductible for corporate tax purposes
January 25, 2024
News
Mexico: Updated value of UMI for 2024
Value of the UMI for 2024 is MXN 100.81
January 24, 2024
News
Chile: Clarification on VAT exemption for professional partnerships; other direct and indirect tax developments
VAT exemption for professional partnerships
January 23, 2024
News
Mexico: List of 201 registered foreign providers of digital services (as of 31 December 2023)
The tax administration published a list of foreign providers of digital services that are registered for tax purposes.
January 18, 2024
News
Guyana: Tax-related measures proposed in 2024 budget
Guyana’s 2024 budget was presented on 15 January 2024.
January 17, 2024
News
Mexico: Updates to presentation of 2023 annual declaration of legal entities
Main changes indicated by the tax administration
January 12, 2024
News
Canada: Updated list of imported goods targeted for potential audits
The Canada Border Services Agency released an updated list of 16 imported goods that will be targeted for potential audits.
January 12, 2024
News
Bolivia: Deadline to implement online billing modalities for eighth, ninth, and tenth groups of taxpayers
Guidance concerning implementation of online billing modalities for eighth, ninth, and tenth group of taxpayers
January 12, 2024
News
Mexico: Miscellaneous tax resolution for 2024 regarding payroll electronic invoices (CFDI)
The tax administration announced through the miscellaneous tax resolution for 2024 the following provision applicable to payroll electronic invoices.
January 11, 2024
News
Mexico: Tax measures in miscellaneous fiscal resolution for 2024
The miscellaneous fiscal resolution for 2024 introduced a number of tax measures.
January 11, 2024
News
Bolivia: Certain taxpayers to implement online billing modality
Certain taxpayers must adapt and implement their computer billing systems and must issue digital tax documents through the assigned online billing mod
January 10, 2024
News
Canada: 2023 tax rates and other changes to consider for tax accounting purposes
Changes that may need to be reflected in year-end financial statements
January 10, 2024
News
Bolivia: Procedure for zero rate VAT billing
Availability of the billing option will be temporary until 31 December 2024.
January 6, 2024
News
Bolivia: Guidance on tax incentives for import and marketing of capital goods and industrial plants
Requirements with respect to the age of the goods
January 6, 2024
News
Bolivia: 2024 budget law includes tax measures
Law No. 1546 of the 2024 General State Budget
January 6, 2024
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