Every week, KPMG member firms around the world publish updates on developments in their country. In Weekly Tax Matters we’ll highlight a selection that may be of interest to our readers. The complete collection of TaxNewsFlash can be found here.
South Africa – Guidance has been issued on the tax treatment of direct and indirect operating expenses of insurers.
Canada – The tax authorities have announced a new reporting requirement for all registered charities.
Canada - Non-Canadian resident employers with non-resident employees working in Canada can now apply to be eligible for a new exception from withholding tax requirements.
Canada - The limit on the deduction of automobile allowances paid by employers has been reduced for 2016.
United States - Leaders and members of the Senate Finance Committee have written to Treasury Secretary Jack Lew concerning the recent EU state aid investigations of US multinational companies.
Dominican Republic – A new law allows for corporate restructuring and liquidation.
Brazil – Oil and gas industry taxes in Rio de Janeiro have been amended.
Australia - The tax authorities have issued a final version of guidelines concerning taxpayer engagements with them in relation to the ‘Multinational Anti-Avoidance Law’ (MAAL) provisions, pursuant to the recently published MAAL ‘client experience roadmap’.
Hong Kong - Tax incentives intended to encourage companies to establish corporate treasury centres in Hong Kong have been proposed.
South Korea – A reduced rate of withholding tax on certain dividends distributed from real estate fund trusts has been introduced.
Thailand – KPMG in Thailand have prepared a tax calendar for 2016.
Indonesia - Tax payments made after 30 June 2016 must be made using a new electronic tax payment system.
EU - The EU has lifted nuclear-related economic and financial sanctions imposed against Iran.
France - Several pieces of legislation, including the Finance Act for 2016 and the Amended Finance Act for 2015, have been published in the official journal.
Gibraltar - The filing obligations of companies incorporated in Gibraltar that declare dividends have been revised.