French Minister of Finance Bruno Le Maire presented the 2021 Finance Bill to parliament on September 28, 2020, which includes provisions to reduced taxes on production and plans to reduce the corporate tax rate next year.
France has extended the October 15 property tax payment deadline for businesses affected by measures to contain COVID-19.
African state Burkina Faso has ratified the BEPS multilateral instrument, to make changes to its double tax agreements to counter tax base erosion and profit shifting (BEPS).
In two recent speeches, French Finance Minister Bruno Le Maire has outlined plans to extend COVID-19 supports for French businesses.
The French tax authority has confirmed new rules regarding the calculation of VAT on pleasure yacht charters.
France's Senate is considering the country's 2021 Finance Bill, following approval in late November by the National Assembly.
Tax revenues fell across the OECD for the first time in a decade during 2019, but a much larger decrease is expected in 2020 as a result of the COVID-19 pandemic, according to the OECD's newly released annual Revenue Statistics report.
Belgium has agreed with the Netherlands, France, Luxembourg, and Germany to extend until March 31, 2021, tax administrative concessions for cross-border workers affected by COVID-19 restrictions.
The Isle of Man has issued a reminder of the deadlines for 2019 corporate tax returns and for certain personal tax payments.
On August 26, 2020, the Swiss Federal Council ratified a new double taxation agreement with Bahrain and a Protocol to revise its DTA with Kuwait.
The Dutch Government has decided to cancel a planned decrease in the corporate tax rate in its 2021 Tax Plan.
The Cyprus Tax Department has released ten-year government bond yield rates for five new territories, to support businesses in calculating claims for Cyprus's Notional Interest Deduction. The rates are for Bermuda, Denmark, Jordan, Portugal, and Switzerland.
The United Arab Emirates Ministry of Finance has highlighted changes made to the territory's rules on economic substance.
Lawmakers in Cyprus have rejected the 2021 Budget, for the first time in the country's history.
The Dutch Senate has approved the 2021 Tax Plan package, which introduces a lower rate of corporate tax for small- and medium-sized businesses.
At its December 22 plenum, Russia's lower house of parliament approved revisions to the country's double tax agreements with Cyprus and Luxembourg.
The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong.
At a plenary session on February 11, 2021, Belgium's parliament adopted a draft law for a new annual tax on securities accounts.
Singapore announced the extension of a number of support measures for businesses in its 2021 Budget, released on February 16, 2021.
The Inland Revenue Authority of Singapore has released guidance for companies on filing a corporate income tax return this year.
On September 28, 2021, the European Commission launched a consultation on a proposed Directive that would obligate member states to introduce the same rules regarding withholding tax on dividend and interest payments.
The Philippines Department of Finance has issued a statement warning against the introduction of a new tax on the super wealthy.
The European Commission has approved a Cypriot scheme involving the grant of tax breaks to private investors – both natural persons and corporate investors – who invest into early-stage, innovative SMEs.
Authorities in Cambodia have announced a further two-year delay to the implementation of a capital gains tax.
The OECD has released its Taxing Wages 2020 report, which highlights that taxes on labor across the OECD countries fell for the sixth consecutive year in 2019.
On May 21, 2020, the Italian Revenue Agency issued a summary of additional tax measures in Decree 34/2020, which are intended to further support taxpayers affected by the COVID-19 virus.
The European Commission has approved under state aid rules four Italian tax schemes to support companies and self-employed workers affected by the coronavirus outbreak.
Austria and Italy have signed an agreement clarifying the tax rules for frontier workers who are working at home due to the COVID-19 pandemic.
On July 10, 2020, the Italian tax authority issued a ruling to explain the rules concerning tax credits for expenditure on adapting workplaces to prevent the spread of COVID-19.
On July 24, 2020, a Council Implementing Decision was published in the official journal of the European Union authorizing the extension of Italy's value-added tax split payment mechanism scheme, applicable to contracts with public sector entities.
The Italian Government will allow tax payments that were deferred during the COVID-19 lockdown to be paid in instalments over a two-year period.
On December 4, 2020, the European Commission said that Italy must abolish its corporate tax exemptions for ports in order to align its tax regime with EU state aid rules.
On December 23, 2020, Switzerland and Italy signed a new agreement on the taxation of cross-border commuters and an amendment to their existing double taxation agreement.
The OECD/G20 Inclusive Framework on BEPS has published the outcome of more reviews into territories' preferential tax regimes and on tax dispute resolution through the Mutual Agreement Procedure.
Hong Kong's Legislative Council has passed a bill to reduce the profits tax for certain insurance businesses.
The Hong Kong Government has gazetted legislation to provide tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong.
Hong Kong will grant taxpayers a waiver of up to HKD10,000 (USD1,290) of profits tax, salaries tax, and tax under personal assessment, the territory announced in its 2021-22 Budget.
Hong Kong has passed legislation to abolish the doubled ad valorem stamp duty rates applicable to non-residential property transactions with effect from November 26, 2020.
Hong Kong tabled the Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 in parliament on March 24.
On April 1, 2021, the Hong Kong Inland Revenue Department began issuing profits tax, property tax, and employer's returns for the year of assessment 2020-21.
On May 3, 2021, the Hong Kong Inland Revenue Department issued over 2.62 million tax returns for individuals for the year of assessment 2020-21.
Hong Kong's Legislative Council has passed a bill to implement a series of amendments to the Inland Revenue Ordinance.
The Hong Kong Inland Revenue Department has announced a further reduction to the interest rate payable on Tax Reserve Certificates.
The Hong Kong Government has announced that the comprehensive double tax agreement it signed with Georgia last year will enter into force on July 1.
Hong Kong's Inland Revenue Department has explained COVID-19 tax concessions available for taxpayers struggling to pay their tax dues and has highlighted upcoming property tax obligations.
Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, has set out how the territory intends to respond to the OECD's proposed new international tax framework.
The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax.
The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories.
Authorities in Hong Kong have launched a review into two tax-deductible retirement savings products: Qualifying Deferred Annuity Policies (QDAP) and Mandatory Provident Fund (MPF) Tax-Deductible Voluntary Contributions (TVC).
The OECD/G20 Inclusive Framework on BEPS has published the outcome of more reviews into territories' preferential tax regimes and on tax dispute resolution through the Mutual Agreement Procedure.