BDO Corporate Tax News July 2021

BDO Corporate Tax News summarises recent tax developments of international interest across the world. 

In this issue:

• Global minimum tax: G-20 backs G-7 support for global minimum tax and new allocation rules – what’s the real impact?
• Argentina: Progressive corporate income tax rate system introduced
• Australia: ATO releases compliance guidance for intangible arrangements with cross-border related parties
• Botswana: Enacted budget measures include rate changes and tax amnesty
• Canada: Budget 2021 proposes earnings-stripping rules
• Ecuador: Special regime for micro enterprises offers beneficial tax rate
• European Union:
  • Reporting obligations in the digital platform economy
  • European Commission publishes communication on business taxation for the 21st century
  • EU General Court rules in favour of Amazon in state aid case
• Germany:
  • Real Estate Transfer Tax rules tightened 
  • BMF issues guidance on tax compliance obligations relating to German-registered IP rights  
• Hungary: Hungary declines to endorse plan for global minimum tax
• India: Certain goodwill no longer eligible for depreciation
• Latvia: Revised CIT regime provides potential benefits and opportunities for shareholders
• Mexico: Far-reaching labour reform addresses outsourcing arrangements and has tax consequences
• Panama: Overview of changes to special tax regimes and introduction of new regime
• Serbia: New legal and tax framework for digital assets
• Singapore: General anti-avoidance provisions enhanced 
• Sri Lanka: Strike it rich with tax-free investments!
• United Kingdom:
  • Finance Act 2021 impacts deferred tax in company accounts: IFRS and US GAAP treatment
  • Responsible Tax: Including tax in Environmental, Social and Governance criteria 
• United States: Treasury’s “green book” provides details on administration’s tax blueprint
• Zimbabwe: Tax authorities revise compliance obligations due to COVID-19 

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