For accounting periods beginning on or after 1 April 2019, companies with taxable profits exceeding 20 million pounds will be required to make their quarterly payments of tax four months earlier.
The Spanish Government has released a draft bill that proposes a 3% tax on revenue derived from certain digital services which generate value from the participation of Spanish users.
The tax rate paid by small companies (i.e., those with a turnover of less than 1 million euros in the previous accounting period that are also not holding companies) in Spain is being reduced to 23%.
In order to promote gender equality, Spain will be introduction legislation that will grant companies a 10% tax credit in respect of the remuneration paid to female members of the board of directors.
Spain has announced anti-avoidance legislation that will introduce a minimum tax regime. Under this regime, most companies will be subject to minimum effective tax rates of between 10% - 18% depending on the size of the company and its activities.
The Spanish government have published their 2019 budget in which they have proposed that the participation exemption for dividends received by Spanish companies be reduce to 95%.
Final regulations on the transition tax under Section 965 of the Internal Revenue Code were issued by the US Treasury Department and the IRS.
All entities seeking to take advantage of Colombia's Special Tax Regime (RTE) must register using the web application developed by Colombian tax authorities (DIAN).
Canadian controlled private corporations are subject to a new set of complex tax rules relating to the refundable dividend tax on hand (RDTOH) balance.
Brazil authorities have clarified certain transfer pricing matters.
Foreign companies with a presence in Hong Kong should be aware of the implementation of country-by-country requirements in Hong Kong and take appropriate action.
In the wake of finalized tax guidance, Australia is expected to see a rise in the number of foreign companies considered tax residents.