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TaxNewsFlash-Americas — KPMG's reports of tax developments in the Western Hemisphere

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TaxNewsFlash-Americas

TaxNewsFlash-Americas

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April 2018

29 Apr - Argentina: Withholding tax, income of foreign beneficiaries from Argentine shares, debt instruments

27 Apr - Canada: Tax facts, taxation overview (updated 31 March 2018)

25 Apr - Canada: Digital tax credit in Alberta

25 Apr - Canada: Nova Scotia budget receives Royal Assent, includes all tax measures

25 Apr - Canada: Update on tax legislation in British Columbia

24 Apr - Barbados: Income tax treaty with Italy, effective 2018

24 Apr - Panama: Income tax treaty with Italy, effective 2018

23 Apr - Mexico: New trade agreement with EU

20 Apr - Chile: Effective date for VAT changes; other developments

18 Apr - Canada: Businesses in British Columbia required to impose PST on delivery charges

18 Apr - Canada: Real estate taxes; relief from speculation tax in British Columbia

17 Apr - Brazil: Tax compliance program (São Paulo)

12 Apr - Argentina: Guidance on tax treatment of financial income earned by foreign beneficiaries

12 Apr - Canada: GST/HST and QST returns for selected listed financial institutions with 31 December year-end due 30 June 2018

12 Apr - Canada: Insurance companies must issue refunds of Saskatchewan provincial sales tax to policyholders by 30 June 2018

11 Apr - Canada: Saskatchewan 2018 budget; no corporate tax rate change, but changes for individual taxation and dividend tax credit

10 Apr - Canada: Nova Scotia budget bill receives first reading

9 Apr - Canada: Prince Edward Island budget, reduced small business tax rate

9 Apr - Canada: Proposal to require businesses outside Quebec to register for and collect QST beginning 1 January 2019

4 Apr - Canada: Federal budget bill receives first reading; small business tax rate reduction, tax on split income

4 Apr - Canada: Ontario tax bill receives first reading; corporate income tax measures

March 2018

29 Mar - Canada: General partners of investment limited partnerships, remit GST/HST by 31 March 2018

29 Mar - Canada: Ontario’s 2018 budget; changes to individual income tax rates and corporate tax credits

29 Mar - Panama: Reminder of due dates for filing returns, paying taxes

28 Mar - Brazil: ICMS imposed on electronic commerce, digital goods (São Paulo)

27 Mar - Canada: Quebec budget includes small business tax relief, QST on e-commerce transactions

27 Mar - Canada: Newfoundland and Labrador budget, no tax rate changes

27 Mar - Dominican Republic: Tax returns modified, identifying ultimate “beneficial owner”

23 Mar - Canada: Alberta 2018 budget; no tax rate changes, extensions of tax credits

21 Mar - Canada: British Columbia 2018 budget bill receives Royal Assent; includes measures affecting corporate tax credits

20 Mar - Canada: No changes to tax rates in Nova Scotia 2018 budget; tax credit changes proposed

20 Mar - Brazil: Guidelines for information relating to tax credits, benefits

20 Mar - Panama: Overview of Authorized Economic Operator (AEO) program

19 Mar - Dominican Republic: Tax authorities requesting transfer pricing studies, verifying interest deductibility of related-party transactions

15 Mar - Jamaica: Tax return deadline extended to 24 March 2018

13 Mar - Bahamas, Saint Kitts and Nevis, U.S. Virgin Islands: Jurisdictions added to EU “blacklist”

13 Mar - Brazil: Due dates and schedules for large companies to report labor, employment actions

13 Mar - Brazil: Increased rate of tax, foreign exchange transfers

13 Mar - Canada: Proposed shortened (six-month) deadline to file information returns about foreign affiliates; possible challenges for multinational corporations

13 Mar - Canada: Tax measures in 2018 Manitoba budget; no changes to corporate or individual tax rates

12 Mar - Dominican Republic: New “tax receipt” rules effective May 2018

12 Mar - Mexico: Maquila or “sub-maquila”

8 Mar - Bermuda: Tax measures in budget 2018-2019

7 Mar - Panama: Relief from municipal taxes in Panama-Pacific special economic zone

2 Mar - Canada: New real estate tax measures in British Columbia; implications for real estate developers

1 Mar - Canada: 2018 federal budget measures affecting financial services sector

May 2017

31 May - Brazil: New immigration law

31 May - Canada: Cash purchase tickets consultation extended to 24 July 2017

31 May - Canada: Manitoba 2017 budget bill receives first reading

30 May - Barbados: Tax proposals included in 2017 budget

24 May - Canada: Alberta 2017 budget bill receives first reading

24 May - Canada: Proposed delay of application of PST to insurance premiums in Saskatchewan

24 May - Mexico: Reminder of deadline, permanent establishments under IMMEX program

24 May - Canada: Canadian corporations operating in United States targeted by IRS auditors

24 May - Canada: First reading, Ontario’s foreign buyers tax bill

24 May - Canada: Ontario 2017 budget bill receives Royal Assent

24 May - Canada: Saskatchewan 2017 budget bill receives Royal Assent

23 May - Canada: Reminder for insurers; deadline for GST/HST recovery paid and related to cross-border reinsurance with affiliates

19 May - Canada: Deadline for missed input tax credits of financial institutions for 2014—30 June 2017

19 May - Canada: Update on trade agreement with EU, would eliminate tariffs

18 May - Mexico: Online digital tax voucher

18 May - Canada: GST information returns of financial institutions due 30 June

17 May - Canada: New Brunswick budget bill receives Royal Assent

16 May - Canada: New QST rules, financial institutions in Quebec

16 May - Canada: R&D tax credit, patent box in Saskatchewan

12 May - Canada: CRA reviewing voluntary disclosures program

10 May - Mexico: Update on taxpayers’ “electronic accounting” requirements

10 May - Canada: 2017 budgets in Yukon, Northwest Territories, Nunavut
are tabled

10 May - Canada: Farming and fishing corporations eligible for small business deduction

10 May - Canada: Quebec’s efforts for harmonization with proposed federal legislation

3 May - Canada: Prescribed income tax interest rates unchanged (third quarter 2017)

3 May - Canada: Prescribed PLOI interest rate increase (third quarter 2017)

2 May - Costa Rica: Electronic invoices issued in foreign language, other currencies

April 2017

28 Apr - Canada: Tax measures in 2017 budget, Ontario

27 Apr - Canada: Tax measures in 2017 budget, Nova Scotia

26 Apr - Canada: CRA to hold refunds for GST non-compliance starting May 2017

26 Apr - Canada: Saskatchewan 2017 budget bill receives first reading

20 Apr - Canada: Ontario property tax for foreign buyers

19 Apr - Canada: Federal budget 2017 receives first reading

19 Apr - Canada: Saskatchewan capital tax bill receives Royal Assent

19 Apr - Canada: Transfer tax relief for foreign homebuyers in British Columbia

13 Apr - Bolivia: Increased tax rate on certain financial intermediary entities

13 Apr - Canada: Reminder of 30 April deadline, 10% tax on cross-border
insurance premiums

13 Apr - Canada: Saskatchewan capital tax rate increase for large financial institutions

13 Apr - Canada: Tax measures in federal budget bill as draft legislation

13 Apr - Canada: Transition time extended for registered charities

13 Apr - Mexico: Taxpayers must file information declaration of “preferential tax regimes”

12 Apr - Panama: Refunds of excess tax on imported merchandise

12 Apr - Panama: Tax credits for computer equipment and software, application due date extended to 30 April

12 Apr - Canada: Tax provisions in Manitoba’s 2017 budget

10 Apr - Canada: Tax provisions in 2017 budget, Prince Edward Island

5 Apr - Canada: Nova Scotia small business income threshold increased

5 Apr - Canada: Tax measures in New Brunswick 2017 budget

5 Apr - Dominican Republic: List of goods and services not VAT exempt

3 Apr - Canada: Stock option deduction increased in Quebec

3 Apr - Chile: FUT substitute election payments due 30 April

2016 Articles

December 2016

22 Dec - Dominican Republic: New registration procedure for foreign employees

20 Dec - Canada: Bill enacting certain 2016 federal budget tax measures receives Royal Assent

20 Dec - Canada: Alberta 2016 budget measures receives Royal Assent

20 Dec - Canada: Revised tax rates for individuals and trusts; bill receives Royal Assent

20 Dec - Canada: Ontario land transfer tax; bill receives Royal Assent

20 Dec - Canada: Bill increasing Canada Pension Plan (CPP) contributions receives Royal Assent

19 Dec - Canada: Business owners and incorporated investments; dividend tax savings and final opportunities for 2016

19 Dec - Canada: Round-up of 2016 tax developments concerning asset managers

19 Dec - Mexico: Tax reform challenge, real estate investment entities (sibras)

19 Dec - Uruguay: Proposed legislation, disclosure of ultimate beneficial owners

16 Dec - Canada: Preparing for GST/HST deadlines

14 Dec - Canada: Taxpayers have until 31 December 2016 to file certain foreign affiliate elections

14 Dec - Canada: “Fairness relief” requests related to 2006 due by 31 December 2016

14 Dec - Canada: Possible opportunities related to Ontario’s new four-year property tax assessment cycle

14 Dec - Panama: Reminder, tax payments due 31 December 2016

12 Dec - Canada: GST / HST deadlines for employers, pension plans

8 Dec - Canada: Tax treaty signed with Madagascar

7 Dec - Dominican Republic: Excise tax provisions concerning alcoholic beverages, tobacco

5 Dec - Mexico: Taxpayer challenges to information reporting requirement for “relevant operations” 

2 Dec - Uruguay: Deemed-dividend regime, loss carryforward limitations effective in 2017

July 2016

28 Jul - Canada: GST changes for pension plans, drop-shipment certificates, financial institutions 

27 Jul - Canada: Additional 15% B.C. property transfer tax, foreign buyers of residential property in Vancouver

27 Jul - Colombia: Sales tax reporting, returns

26 Jul - Colombia: Tax calendar for second half 2016 (Spanish)

26 Jul - Mexico: Tax law changes published in official journal

22 Jul - Canada: Small business tax rate in New Brunswick, reduced to 3.5% from 4% 

21 Jul - Bahamas: No income tax, but other forms of taxation on investing, conducting business  

20 Jul - Brazil: Capital gains tax rate changes apply beginning 2017

20 Jul - Brazil: Financial transaction tax (IOF) on foreign exchange transactions, loans

18 Jul - Canada: Oil, gas and mining companies may use Canadian reports to meet new U.S. requirements

14 Jul - Canada: Modifications to “taxable Québec property,” requirements for QST rebates to public service bodies

14 Jul - Canada: Provisions in New Brunswick’s 2016 budget receives Royal Assent; increases to corporate tax and financial corporation capital tax rates

14 Jul - Canada: Tax incentive measures in Saskatchewan's 2016 budget receives Royal Assent

13 Jul - Dominican Republic: Enhanced focus to address tax evasion, tax havens

13 Jul - Panama: New computer system, portal for tax reporting

12 Jul - Canada: Manitoba budget bill receives Royal Assent

12 Jul - Argentina: Repeal of 10% withholding tax on dividends, tax amnesty

12 Jul - Mexico: Judgment concerning taxpayer electronic records

5 Jul - Canada: Income tax rate changes for interim financial statements (second quarter 2016)

5 Jul - Bahamas: Appeals process for resolving disputes of VAT assessments

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