A weekly summary of the top weekly tax news, trends
and developments in the Americas

      This week's tax news from the Americas

• Canada tables Federal Budget 2024--2025
  On 16 April 2024, Deputy Prime Minister and Federal Finance Minister, Chrystia Freeland, tabled the federal budget 2024-25. The budget contains tax measures affecting individuals and corporations, including an increase in the capital gains inclusion rate, but no change to the general corporate tax rate or the general personal income tax rates. Several of these measures were pre-announced leading up to budget day.
• Mexico postpones visa requirement for nationals of Peru until 6 May 2024
  On 18 April 2024, the Mexican government announced that the implementation of the visa requirement for nationals of Peru who travel to Mexico for business or tourism purposes has been postponed until 6 May 2024. This follows an announcement by the Peruvian government that it had rescinded its decision to require Mexican nationals to obtain a visa prior to entry into Peru.
• Honduras eliminates consular visa requirement for Bolivian nationals entering the country
  Bolivian nationals may now enter Honduras for business or tourism purposes using only their valid passports (without a consular visa) for up to 90 days cumulatively per calendar year. The agreement came into effect on 17 March 2024. The visa exemption applies to holders of ordinary Bolivian passports that are valid for at least six months who enter Honduras for business (e.g., to attend meetings, conferences, training sessions) or as tourists for up to 90 days cumulatively per calendar year.
• The Latest on BEPS and Beyond | April 2024
  EY’s Latest on BEPS and Beyond (April 2024 edition) is now available. Highlights in this edition include (1) Minister of Finance of Curaçao releases update on tax rulings policy; (2) OECD releases sixth annual peer review report and revised peer review documents on BEPS Action 6 relating to prevention of treaty abuse; and (3) International Monetary Fund releases working paper on the design of Pillar Two.
• UPDATED! EY Green Tax Tracker (April 2024) | Get ahead and stay ahead of evolving global green tax policies
  The EY Green Tax Tracker provides an overview of the green taxes and exemptions, sustainability incentives and carbon pricing regimes in effect in an ever-growing number of jurisdictions. Global sustainability policies and regulations are advancing at a rapid pace. As they grow in number and impact, so do the associated business impacts, risks and opportunities. The Green Tax Tracker can help you get ahead and stay ahead.
• EU Public Country-by-Country Reporting (PCbCR) Developments Tracker now available
  Under the European Union (EU) PCbCR Directive, certain multinational enterprise (MNE) groups operating in the EU are required to publicly disclose income taxes paid, and other tax and non-tax related information. As countries continue to transpose the Directive into national law, local nuances have emerged, which need to be carefully considered by MNE groups in scope. The EU PCbCR Developments Tracker provides an overview of the Directive and how each EU Member State and European Economic Area country is implementing the Directive.

      This week's newsletters

• Report on recent US international tax developments — 19 April 2024
  Our weekly report with brief summaries of all the week's US tax developments and related activity.

      This week's tax treaty news from the Americas

• Costa Rica and United Arab Emirates: comprehensive economic partnership agreement signed
• El Salvador and People’s Republic of China: negotiations for a free trade agreement begun
• Quebec and Belgium: amendment to social security agreement approved by Belgian Chamber of Representatives

      Upcoming EY webcasts

• 24 April: US corporate income tax compliance: Planning for tax year 2023 and beyond
• 8 May: Spotlight on BEPS 2.0: lessons learned from Q1 tax provision
• 8-9 May: EY 2024 Registered Funds Seminar
• 10 May: Tax in a time of transition: US legislative, economic, regulatory and IRS developments
• 14 May: International tax talk quarterly series with the EY Global Tax Desk Network
• 22 May: Spotlight on BEPS 2.0: technology to help you navigate Pillar Two

      Recently archived webcasts

• 11 April: How leveraging AI impacts the commodities trading lifecycle
• 18 April: BEPS 2.0 Pillar One update: Amount B implications (AsiaPac)
• 18 April: US REIT capital markets, legislative outlook and SEC climate disclosures
• 19 April: Tax in a time of transition: US legislative, economic, regulatory and IRS developments

A calendar of all upcoming EY webcasts is available.

      Recent EY podcasts

• EY Podcast: Weekly US international cross-border taxation news for week ending 19 April 2024

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

      This week's EY Global Tax Alerts

     Americas Tax Alerts

• Report on recent US international tax developments — 19 April 2024
• Canada tables Federal Budget 2024--2025

     Other Global Tax Alerts

• European Commission issues binding valuation information rules and conditions for decisions on binding tariff and binding origin information
• European Parliament adopts new regulation to reduce global methane emissions from energy sector
• EU Public Country-by-Country Reporting (PCbCR) Developments Tracker now available
• EY Global Tax Controversy Flash Newsletter (Issue 68) | ECtHR’s evolving role in tax disputes
• Hong Kong introduces bill on patent-box tax incentive
• Israeli Tax Authority signs its first Bilateral Advanced Pricing Agreement
• Netherlands implements EU Public CbCR Directive, applicable as of 22 June 2024

     Human Capital Alerts

• Honduras eliminates consular visa requirement for Bolivian nationals entering the country
• Indonesia implements new visa for remote workers
• Iraq launches new online Visit Visa application platform
• Mexico postpones visa requirement for nationals of Peru until 6 May 2024
• Sweden proposes changes for certain individuals resident in Sweden pursuant to the Temporary Protection Directive
• Turkiye rescinds visa exemption for nationals of Tajikistan
• Turkiye announces new e-visa requirement for nationals of 10 countries who transit through Istanbul Airport

     Indirect Tax Alerts

• Poland introduces mandatory e-invoicing from 2025
• Uganda issues tax amendment bills for 2024 affecting excise duty, stamp duty, VAT, income tax and PEs
• Saudi Arabia issues guidelines for Regional Headquarters Tax and zakat rules

     Transfer Pricing Alerts

• Algerian Finance Ministry offers clarity on transfer pricing documentation and determining depreciation period for fixed assets

      This week's EY Industry publications

     Energy reimagined

• Webcast: Energy customer experience of the future

      This week's EY Services publications

     Global Finance

• How customer connections, reporting and sustainability drive success
• The Better Finance podcast

     People Advisory Services

• How can the moments that threaten your transformation define its success?

     Tax

• How the role of financial controller is evolving

     Managing Risk

• How companies navigate sustainability ambition and greenwashing risks

Additional resources

Comments. If you have any questions or suggestions about this newsletter, please email Global Tax News Update Help at: globaltaxnewsupdatehelp@ey.com.

About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Brittenham, writer and editor

Distributed weekly to all Americas Tax personnels.