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.
The new model forms 22-RFI, 23-RFI and 24-RFI, which are required for the application of international double taxation conventions, were approved by Dispatch No 6403/2021 of 30 June 2021.
Among others, it clarifies that when the tax base must be determined provisionally because the taxpayer does not have all the elements necessary for calculating it definitively, the subsequent regularization will not give rise to surcharges but it will give rise to interest
The new double taxation agreement between Spain and China has now also completed the internal legislative procedure in China, and, thus, has entered into force, according to Announcement (2021) No. 16, which was issued by the State Administration of Taxation (SAT) on June 21, 2021 and made public later.
The Parliament of the Autonomous Region of Azores approved a generic reduction of 30% of the national personal income tax (PIT), corporate income tax (CIT) and value added tax (VAT) rates through the Regional Legislative Decree no. 15-A/2021/A, published at the Official Gazette ('Diário da República') on 31 May of 2021.
Following the approval of the 'IVAucher' program by the State Budget Law for 2021, which aims to support and stimulate the accommodation, culture and restaurant sectors, the Portuguese Government has finally defined, through Regulatory Decree no. 2-A/2021, of 28 May, its scope and operating conditions.
It has been published in the official website of the Portuguese Tax Authority, the postponement of the deadline to comply with the obligation to prepare and submit the transfer pricing file, to which large taxpayers are subject, under article 130, no. 3, of the Corporate Income Tax (IRC) Code, to July 22th, 2021 (in line with the postponement of the submission of the IES/DA).