This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas region between 1 February and 28 February 2018.
For a full summary of global tax developments, visit kpmg.com/taxnewsflash.
To contact the International Tax Team email firstname.lastname@example.org.
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Tax compliance - 19 January 2018
There is a new process for filing federal tax returns and other information reporting returns—including social security filings for workers in Brazil.
Carbon tax - 12 February 2018
Finance has released carbon tax legislation, along with details of a related regulatory framework that will apply to any province or territory that does not implement a carbon pricing system before 2019 that meets the federal standards.
GST/HST - 31 March 2018
GST/HST and QST related to taxable employee benefits must be remitted by March 31, 2018.
Federal budget - 27 February 2018
The Finance Minister delivered Canada's 2018 federal budget. As expected, the budget introduces the new taxation regime for holding passive investments inside a private corporation, originally contemplated in July 2017.
Prescribed interest rate - 6 February 2018
The prescribed interest rate for the second quarter of 2018 is now available.
Province budget - 20 February 2018
British Columbia’s Finance Minister delivered the province’s 2018 budget. Among other, the budget introduces new rules to better track changes in beneficial ownership.
Tax compliance - 28 November 2018
British Colombia’s not-for-profits must transition to a new online filing system by November 28, 2018.
Multilateral instrument - 31 January 2018
Canada has begun the Multilateral Instrument ratification process.
Various tax areas February - 2018
KPMG in Chile prepared a summary of the tax developments in Chile in early 2018.
Corporate income tax - 21 February 2018
A circular was issued to address the tax implications when assets used in investment projects are sold before the end of the asset’s useful life or are sold before the expiration of a 10-year period in the event that the asset’s useful life is greater than 10 years.
For legislative changes and regulatory updates for the US please visit below link to the TaxNewsFlash United States.
Read TaxNewsFlash US