BDO Corporate Tax News - Issue 57

Welcome to the newly updated BDO’s Corporate Tax News. 

Amid many recent changes as we entered 2021, governments and businesses throughout the world continue to be preoccupied by the COVID-19 pandemic.

In this edition, we include articles on the potential changes in the United States that could take place und President Biden’s tax plan, the introduction of further COVID-19 related measures in Nigeria,  and the updates for the EU’s DAC6 reporting requirements, including its planned implementation in some Member States and the transition for the United Kingdom. 

The UK-EU Trade and Cooperation Agreement was finally agreed at the end of December 2020,  subject to ratification by the EU parliament, and we also include a summary of the main Customs Duties, VAT, tax, social security and State Aid aspects. 

Other tax developments of international interest continue to take place, and we look at the main tax  measures in Malaysia’s 2020 Finance Act, the new dividend income taxation regime in India,  withholding relief modernisation in Germany, and other important news and changes.

In this issue:

• International
  • GLOBAL TAX OUTLOOK: Spotlight on Tax Assurance and Risk Management
  • THE EUROPEAN UNION: DAC6 - Interpreting the European DAC6 Directive
• Asia Pacific
  • INDIA: Dividend income - Taxation of two regimes
  • KOREA: Transfer pricing: Advance Pricing Agreement updates
  • MALAYSIA: Budget 2021 and Finance Bill 2020
  • PAPUA NEW GUINEA: 2021 Budget highlights and other Internal Revenue Commission protocol enforcements
• Europe and the Mediterranean
  • FRANCE: Permanent Establishment - The French Administrative Supreme Court adopts an extensive approach
  • GERMANY:
    • Limited tax liability on the licensing or sale of rights registered in German registers
    • Withholding Tax Relief Modernisation
  • SPAIN: Directors’ remuneration again under scrutiny
  • UNITED KINGDOM: UK-EU Trade and Cooperation Agreement
• Latin America
  • PANAMA: New substance requirements for multinational headquarters regime
• North America and the Caribbean
  • JAMAICA: New revenue measures
  • UNITED STATES:
    • Keys to year-end tax savings for businesses
    • Biden's tax plan: The potential changes
• Africa
  • ETHIOPIA: Digitalising the tax payment system
  • NIGERIA: Introduction of additional COVID-19 palliatives - Draft Finance Bill 2021