For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.
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Argentina
Tax area concerned | Relevant date | Description of measures and publication link | |
Tax legislation approved and regulatory update | Treaties | 25 October 2024 | Income tax treaty with China ratified. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 25 October 2024 | Creation of new federal collection agency (Customs Control and Collection Agency). Read more. |
Bolivia
Tax area concerned | Relevant date | Description of measures and publication link | |
Bolivia | |||
Tax legislation approved and regulatory update | Indirect tax | 22 October 2024 | “Twelfth group of taxpayers” to implement online billing modality. Read more. |
Brazil
Tax area concerned | Relevant date | Description of measures and publication link | ||
Brazil |
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Tax legislation approved and regulatory update | BEPS Pillar 2 | 07 October 2024 | Implementation of Pillar Two rules establishes qualified domestic minimum top-up tax. Read more. | |
Chile
Tax area concerned | Relevant date | Description of measures and publication link | |
Chile | |||
Tax legislation approved and regulatory update | Various tax topics | 18 October 2024 | Withholding on payments to U.S. residents, reporting by digital platforms, other direct and indirect tax developments. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 11 October 2024 | New reporting and Value Added Tax (VAT) obligations for digital platforms, remote sellers. Read more. |
Costa Rica
Tax area concerned | Relevant date | Description of measures and publication link | |
Costa Rica | |||
Tax legislation approved and regulatory update | Tax compliance | 09 October 2024 | New regulations concerning tax exemption regimes. Read more. |
Dominican Republic
Tax area concerned | Relevant date | Description of measures and publication link | |
Dominican Republic | |||
Others | Others | 22 October 2024 | Tax reform bill withdrawn. Read more. |
Proposed legislation | Various tax topics | 16 October 2024 | Tax reform bill presented to Congress. Read more. |
Proposed legislation | Indirect tax | 11 October 2024 | Tax reform proposals affecting foreign services and e-commerce. Read more. |
LATAM
Tax area concerned | Relevant date | Description of measures and publication link | |
LATAM | |||
KPMG publication | Income tax | 08 October 2024 | KPMG article: Impact of Principal Purpose Test provisions on holding companies in Latin America. Read more. |
Mexico
Tax area concerned | Relevant date | Description of measures and publication link | |
Mexico | |||
Tax legislation approved and regulatory update | Indirect tax | 25 October 2024 | New Value Added Tax (VAT) withholding requirement for platforms facilitating the sales of goods for nonresidents. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 24 October 2024 | Tax authority clarifies definition of digital intermediation services. Read more. |
Tax legislation approved and regulatory update | Various tax topics | 24 October 2024 | New obligations for crowdfunding platforms to withhold income tax and Value Added Tax (VAT). Read more. |
Tax legislation approved and regulatory update | Indirect tax | 16 October 2024 | Modifications to general foreign trade rules affecting Manufacturing Industry, Maquila and Export Services program operations and Value Added Tax (VAT) certifications. Read more. |
Duplicate article |
| 16 October 2024 | Modifications to general foreign trade rules affecting IMMEX operations and Value Added Tax (VAT) certifications. Read more. |
Tax legislation approved and regulatory update | Indirect tax | 09 October 2024 | Rules for collecting tax on hosting services on digital platforms (Veracruz). Read more. |
Trinidad and Tobago
Tax area concerned | Relevant date | Description of measures and publication link | |
Trinidad and Tobago | |||
Proposed legislation | Indirect tax | 02 October 2024 | Tax measures proposed in 2025 budget. Read more. |
Uruguay
Tax area concerned | Relevant date | Description of measures and publication link | |
Uruguay | |||
Tax legislation approved and regulatory update | Tax compliance | 10 October 2024 | Automatic Exchange of Information portal available for submission of Common Reporting Standard (CRS) reports. Read more. |
