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Mexico: Constitutional Amendment on Tax Forgiveness Passed

(Mar. 26, 2020) On February 25, 2020, Mexico’s Congress passed a constitutional amendment generally prohibiting tax forgiveness except in a limited number of cases determined by statutory law. Background Mexico’s President Andres Manuel Lopez Obrador proposed this amendment in 2019, arguing that tax forgiveness powers had been exercised excessively and baselessly by previous administrations. Specifically, […]

Turkey: Parliament Passes Amendments to New “Valuable Real Estate Tax”

(Feb. 28, 2020) On February 14, 2020, Turkey’s Parliament adopted Law No. 7221, which, among other things, amends several provisions of the Real Estate Tax Law (Law No. 1319). The provisions in question were only recently introduced last December by Law No. 7194. The provisions of Law No. 7194 had introduced an annual “Valuable Real […]

New Zealand: Tax Authority Rules That Salaries Paid in Cryptoassets Are Subject to Tax

(Sept. 5, 2019) On June 27, 2019, New Zealand’s tax authority, the Inland Revenue Department (IRD), issued a binding public ruling (BR Pub 19/01) applicable to the payment of remuneration to employees using “crypto-assets.” A further ruling (BR Pub 19/02) relates to the use of crypto-assets to pay employee bonuses. The rulings were to come […]

Mexico: Fiscal Benefits Relief for the Populations Affected by the Earthquake

(Oct. 20, 2017) In a decree published on October 2, 2017, the Mexican government granted  fiscal benefits to taxpayers who were affected by the September 19, 2017, earthquake in municipalities in the states of Mexico, Guerrero, Morelos, Oaxaca, Puebla, and Tlaxcala, but not in Mexico City. The Secretary of the Treasury, José Antonio Meade, explained that the […]

China: New Law Replacing Pollution Discharge Fee With Environmental Protection Tax

(Feb. 8, 2017) On December 25, 2016, China’s National People’s Congress (NPC) Standing Committee passed the Environmental Protection Tax Law.  When it takes effect on January 1, 2018, the Law will replace the existing pollution discharge fee system with a new environmental protection tax.  (Zhonghua Renmin Gongheguo Huanjing Baohu Shui fa, NPC website (Dec. 25, […]

United Kingdom: Office of Tax Simplification Placed on Statutory Basis

(Dec. 20, 2016) The Office of Tax Simplification, part of Her Majesty’s Treasury, was recently placed on a statutory basis by Part 12 of the Finance Act 2016 (Finance Act 2016, c. 24, Part 12 & Sched. 25, LEGISLATION.GOV.UK), which was brought into force on November 28, 2016, by a recent set of regulations of […]

Cambodia: Draft Financial Management Law Considered

(Nov. 18, 2016) It was reported on November 15, 2016, that a draft Law on Financial Management 2017 is being discussed in the Cambodian National Assembly, with the expectation that legislators will pass the draft document in December and that it will enter into force in January 2017.   (Janice Loke, Cambodia: Draft 2017 Law on […]

Ecuador: New Rules on Amending a Tax Return

(Nov. 16, 2016) Ecuador published a resolution from the national Internal Revenue Service (Servicio de Rentas Internas or SRI) in the country’s official gazette issue of October 31, 2016. The resolution, which was immediately applicable, contained regulations on amending a tax return.   (Gustavo Guerra, Ecuador: Regulations to File Amending Tax Returns, TAX NEWS SERVICE (Nov. […]

Taiwan: VAT on Cross-Border Sale of Digital Services

(Nov. 9, 2016) On September 22, 2016, Taiwan’s Executive Yuan (Cabinet) approved draft legislation to amend the Value-Added Tax Act with regard to cross-border sales of digital services. (You Kang Jin, Taiwan: Draft Bill Passed to Amend VAT Act on Cross-Border Sale of Digital Services, TAX NEWS SERVICE (Sept. 26, 2016), International Bureau of Fiscal […]

Vietnam: Document on Taxation of Uber Services Issued

(Sept. 19, 2016) Vietnam’s Ministry of Finance recently issued a document detailing the tax rules applicable to the car hailing services of Netherlands-based Uber International Holdings B.V. in Vietnam. According to the Ministry, as a foreign establishment without residence offices in the country, Uber is subject to the direct method of tax payment, whereby the […]