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

      This week's tax news from the Americas

• Colombia's highest tax court sustains tax authority opinion denying activation of most-favored-nation clause in double tax treaties
  Colombia's highest tax court has sustained a Colombian tax authority opinion that three double-tax treaties (DTTs) executed by Colombia were not affected by provisions in a later-executed DTT, because the most-favored-nation clauses (MFNCs) in the three DTTs were not activated. The 4 April 2024 decision reviewed the Colombian tax authority's Official Opinion which had ruled that the MFNCs in DTTs with Spain, Chile and Switzerland were not activated before Colombia's DTT with the United Kingdom entered into force.

• Honduran Tax Authority issues Agreement on CbCR
  The Honduran Tax Authority issued Agreement SAR-653-2023, establishing the obligation for certain entities to file country-by-country reports (CbCRs) and corresponding notifications. The Agreement includes an Annex, which details the information that the CbCRs must contain, as well as filing instructions.

• Trade Talking Points | Latest insights from EY's Trade Strategy team (April 2024, no. 1)
  This edition of Trade Talking Points includes updates on the United Kingdom’s consultation for a carbon border adjustment mechanism (CBAM), the European Union’s Free Trade Agreements, United States trade remedies, the latest World Trade Organization (WTO) meetings, and updates on the WTO’s global trade forecast and meeting on services trade.

• EY TradeWatch | Issue 1, 2024
  In this first issue of the year, we set out the top seven trade trends that, in our view, will have a significant impact on international trade over the course of 2024. EY assess the outcomes from the recent World Trade Organization's 13th Ministerial Conference, and explores some key themes impacting global trade.

      This week's newsletters

• Report on recent US international tax developments - 26 April 2024
  Our weekly report with brief summaries of all the week's US tax developments and related activity.
• Tax M&A Update for March 2024
  Tax M&A Update is a monthly newsletter that provides a summary of developments in the marketplace, leading technical developments, and other thought leadership notes in the area of mergers and acquisitions (M&A) taxation and general corporate taxation.

      This week's tax treaty news from the Americas

• Costa Rica and Spain: meeting to advance negotiations for social security agreement held
• Paraguay and Spain: income tax treaty approved by Paraguayan Chamber of Deputies
• Peru and India: seventh round of negotiations for a free trade agreement held

      Upcoming EY webcasts

• 30 April: BEPS 2.0 Pillar 2 Global Minimum Tax rules
• 8 May: Spotlight on BEPS 2.0: developments and practical implications for US MNEs
• 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: developments and practical implications for US MNEs
• 22 May: How mining and metals can navigate ESG tax and regulatory challenges

      Recently archived webcasts

• How tax changes, AI and supply chain impact life sciences companies

A calendar of all upcoming EY webcasts is available.

      Recent EY podcasts

• EY Podcast: Weekly US international cross-border taxation news for week ending 26 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

• Colombia's highest tax court sustains tax authority opinion denying activation of most-favored-nation clause in double tax treaties
• Honduran Tax Authority issues Agreement on CbCR

     Other Global Tax Alerts

• India and Mauritius signs Protocol amending double-tax treaty
• Poland publishes draft legislation implementing global minimum tax (Pillar Two), with option to apply retroactively from 1 January 2024

     Transfer Pricing Tax Alerts

• Algerian tax authorities extend deadline for filing annual tax and transfer pricing declarations

     Human Capital Alerts

• Belgium to implement immigration policy changes in the Flemish region effective 1 May 2024
• Hungary announces new Golden Visa scheme for foreign real estate investors
• Sweden proposes changes expected to simplify regulations for researchers and doctoral students

     Indirect Tax Alerts

• Algeria's tax authority issues guidelines for treatment of deducted VAT, compliance requirements for VAT-exempted turnover
• European Commission Group on the Future of VAT publishes minutes of 44th meeting
• Germany | Companies now required to register for levy obligation on single-use plastic products     

      This week's EY Industry publications

     Banking & Capital Markets

• Impacts of Central Clearing of US Treasuries and Repo

     Energy reimagined

• How mining and metals can navigate ESG tax and regulatory challenges

     Government and Public Sector

• Taking data culture to the next level to serve better

     Private Equity

• Private Equity Pulse: key takeaways from Q1 2024

      This week's EY Services publications

     Tax

• How the role of financial controller is evolving

     Risk

• EY Global Integrity Report 2024
• 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 personnel.