February 21, 2021
U.S. International Tax This Week for February 19
Ernst & Young's U.S. Tax This Week newsletter for the week ending February 19 is now available. Prepared by Ernst & Young's National Tax Department in Washington, D.C., this weekly update summarizes important news, cases, and other developments in U.S. taxation.
— Feb 15: Thailand enacts new VAT rules for foreign e-business and digital services (Tax Alert 2021-0354)
— Feb 12: New special measures to support Hong Kong residents to settle and remain in Canada discussed (Tax Alert 2021-0340)
— Feb 12: India releases 2021-22 Union Budget (Tax Alert 2021-0339)
— Feb 12: Hong Kong introduces tax concessions for carried interest (Tax Alert 2021-0338)
Canada & Latin America
— Feb 18: Uruguayan Executive Power modifies the promotional regime for construction activities considered 'great economic dimension projects' (Tax Alert 2021-0378)
— Feb 18: Uruguayan Executive Power increases tax benefits granted to investment projects (Tax Alert 2021-0377)
— Feb 17: Canada confirms hotel quarantine measures and airport and land border testing (Tax Alert 2021-0367)
— Feb 17: German Ministry of Finance publishes working draft of Act to Combat Tax Avoidance and Unfair Tax Competition (Tax Alert 2021-0369)
— Feb 17: Luxembourg implements defensive measures related to EU-listed non-cooperative jurisdictions (Tax Alert 2021-0368)
— Feb 16: Cyprus Tax Authorities publish 10-year government bond yield rates for NID purposes (Tax Alert 2021-0361)
— Feb 15: Hungarian Ministry of Finance issues guidance on Mandatory Disclosure Rules (Tax Alert 2021-0352)
— Feb 16: Israeli Tax Authority publicly presents its view on profit split application for R&D centers (Tax Alert 2021-0362)
— Feb 17: OECD releases 10th batch of peer review reports on BEPS Action 14 related to improving dispute resolution (Tax Alert 2021-0370)
— Feb 16: The latest on BEPS and Beyond for February 2021 (Tax Alert 2021-0357)
— Feb 15: OECD, UN, IMF and World Bank Group present toolkit on the implementation of effective transfer pricing documentation requirements (Tax Alert 2021-0353)
Internal Revenue Bulletin
Ernst & Young Client Portal, the leading source for news, analysis, and reference materials for corporate tax professionals, has a variety of content of interest to international tax practitioners, including:
— International Tax Online Reference Service. Key information about, and important tax developments from, 56 foreign jurisdictions, including information on tax rates, interest rates and penalties, withholding, and filing dates.
— EY/Passport. EY/Passport is your guide to planning ventures in the global economy, offering a wealth of tax and business knowledge on more than 150 countries.
Because the matters covered herein are complicated, U.S. International Tax This Week should not be regarded as offering a complete explanation and should not be used for making decisions. Any decision concerning matters covered herein should be reviewed with a qualified tax advisor.