July 18, 2021 U.S. International Tax This Week for July 16 Ernst & Young's U.S. Tax This Week newsletter for the week ending July 16 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.
————————————————————————— Tax risk and controversy for companies operating in Asia-Pacific (July 26) ————————————————————————— United States — Jul 02: Revenue proposals detailed in Treasury Green Book would significantly affect international private companies and families (Tax Alert 2021-1317) Africa — Jul 15: Nigerian Tax Authority issues guidance on Stamp Duties compliance (Tax Alert 2021-1358) — Jul 02: Nigeria’s Federal High Court Issues Practice Directions on tax matters related to the Federal Inland Revenue Service (Tax Alert 2021-1301) Asia — Jul 14: Taiwan amends capital gains tax law for transfers of real property (Tax Alert 2021-1344) — Jul 12: South Korea launches pilot project 'Electronic Travel Authorization' for visa-free entry for foreign nationals; official launch in September 2021 (Tax Alert 2021-1328) — Jul 12: India releases significant international travel announcements (Tax Alert 2021-1327) — Jul 02: China announces new Stamp Duty Law (Tax Alert 2021-1303) Canada & Latin America — Jul 15: Peru implements new, stricter requirements for residence visa applications (Tax Alert 2021-1364) — Jul 14: Canada's proposed changes to taxation of employee stock options now law (Tax Alert 2021-1356) — Jul 13: Brazil announces new entry rules for Venezuelan nationals, maritime crew and individuals who recovered from COVID-19 (Tax Alert 2021-1349) — Jul 13: Canada's Bill C-208 includes changes to section 84.1 and section 55 (Tax Alert 2021-1339) — Jul 13: Canada's 2021 budget implementation bill receives Royal Assent (Tax Alert 2021-1338) — Jul 12: EY Canada's Tax Matters @ EY for July 2021 (Tax Alert 2021-1330) Europe — Jul 15: German Ministry of Finance issues updated guidance on extraterritorial taxation of IP, extending deadline for applicability of retroactive exemption in “clear” treaty cases (Tax Alert 2021-1355) — Jul 14: French Parliament approves Amending Finance Bill for 2021 (Tax Alert 2021-1347) — Jul 13: Russia's law on activities of foreign Internet companies in Russia signed by the President (Tax Alert 2021-1332) — Jul 12: PE Watch | Latest developments and trends, July 2021 (Tax Alert 2021-1325) — Jul 12: G20 Finance Ministers endorse key components of global tax changes and invite holdouts to back the agreement (Tax Alert 2021-1324) — Jul 05: Spanish National High Court overturns denial of withholding tax exemption on dividend payments to EU shareholder (Tax Alert 2021-1320) — Jul 05: Ireland broadly supports OECD agreement with reservation on rate (Tax Alert 2021-1319) — Jul 02: OECD announces conceptual agreement in BEPS 2.0 project (Tax Alert 2021-1308) — Jul 02: Poland introduces VAT option on financial services to be effective 1 January 2022 (Tax Alert 2021-1302) Middle East — Jul 14: Turkey issues Communiqué on Ultimate Beneficial Owner declaration requirement (Tax Alert 2021-1348) — Jul 14: Saudi Arabia clarifies GCC origin of goods (Tax Alert 2021-1345) ————————————————————————— 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. | |||||||