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Mexico Enacts Outsourcing Tax Law Changes Mexico Enacts Outsourcing Tax Law Changes by Mike Godfrey, Tax-News.com, Washington 09 June 2021 Mexico has recently enacted legislative amendments to various tax laws in a bid to restrict the ability of companies to enter into outsourcing arrangements. The changes are intended to prevent companies from circumventing obligations that would apply to them if they engaged their workforce directly, not only in relation to income tax and social security contributions but also the obligation to pay employees a share of company profits. The new law caps suc...

EFTA States' Tax Rulings Receive The All-Clear EFTA States' Tax Rulings Receive The All-Clear by Ulrika Lomas, Tax-News.com, Brussels 09 June 2021 The EFTA Surveillance Authority (ESA) has closed its investigations into the tax ruling practices of Iceland, Liechtenstein, and Norway, without finding any evidence of state aid infringements. ESA said that it had carefully assessed tax ruling practices in the three countries. It found no instances of tax rulings being used in a manner contrary to the state aid rules of the EEA Agreement, which correspond to the EU state aid rules. The investiga...

Singapore Issues Corporate Tax Return Filing Guidance Singapore Issues Corporate Tax Return Filing Guidance by Mary Swire, Tax-News.com, Hong Kong 09 June 2021 The Inland Revenue Authority of Singapore has released guidance for companies on filing a corporate income tax return this year. The deadline for filing the form is November 30, 2021, for the 2021 year of assessment. Companies should file one of three forms depending on the size of their operations. The simplified Form C-S is for companies that fulfil all of the below conditions - they: are incorporated in Singapore; and have an annua...

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting by Ulrika Lomas, Tax-News.com, Brussels 12 May 2021 Experts speaking at the UN's Economic and Social Council's annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Among other pressing topics, tax policy specialists and senior Government officials throughout the day-long meeting – which featured three panel discussions on ...

Hong Kong Issues Tax Returns For Individuals Hong Kong Issues Tax Returns For Individuals by Mary Swire, Tax-News.com, Hong Kong 12 May 2021 On May 3, 2021, the Hong Kong Inland Revenue Department issued over 2.62 million tax returns for individuals for the year of assessment 2020-21. The IRD said that, in general, taxpayers should file their tax returns within one month, making the due date June 3, 2021. For sole proprietors of unincorporated businesses, a three-month period is allowed and the filing deadline is August 3, 2021. Those filing via the eTAX service will be granted an automatic...