On 8 September, the Polish Government referred to the Parliament (Parliamentary document No 1532) a proposal for extensive changes concerning, among other things, tax law, and affecting the tax situation of both foreign investors and domestic businesses, and individuals. It has been announced that the relevant legislative acts will be adopted by the end of September.
Taxpayers should pay attention to the following Chinese tax regulation updates regarding outbound remittance in China: one record filing for multiple remittances under one contract and the cancelation of the Local Tax Surcharges related to Withholding Value Added Tax (VAT) and Consumption Tax (CT).
On August 13, 2021 the Chilean IRS (Servicio de Impuestos Internos) issued Exempt Resolution No. 95 (Resolución Exenta No. 95), establishing the instructions to implement the registration under the new voluntary Registry of Foreign or International Financial Institutions as well as establishing the format by which a lender must provide the Borrower a statement confirming that it has not entered into a structured agreement (acuerdo estructurado) in accordance with Article 59 N°1 (b) of the Chilean income tax law (Ley de impuesto a la renta).
In the context of the current COVID-19 pandemic, new measures were approved to enable companies to increase their cash flows.
The Portuguese Government approved a new review of the flexibility scheme on VAT obligations compliance and regarding PDF invoices through Dispatch n.º 260/2021-XXII, of 27 July.
According to the National Appellate Court, this penalty cannot be imposed if no loss has arisen for the public purse.
The law, which came into effect the day after its publication, includes important changes to a number of taxes. They include making sweeping amendments to the international fiscal transparency rules, replacing “tax haven” with “non-cooperative jurisdiction” and setting a 15% special levy on undistributed income under the “SOCIMI” regime. It also makes considerable amendments to the General Taxation Law, and changes the rules on the valuation of properties for the purposes of various taxes.
Software as a Service or SaaS, which allows remote technological support to be offered across borders, raises various questions in tax matters in an interconnected world. In this article, Garrigues tax experts analyze the tax treatment of SaaS in different Latin American countries, in a graphic and simplified way.