In response to the corona crisis, the US passed the Coronavirus Aid; relief and Economic Security Act (CARES ).
Switzerland – US contribution to the tax base in Switzerland
Tag: tax measures
Mexico: 2020 tax reform modifies the application of the tax law to digital commerce
In brief
The 2020 Mexico Tax Reform modifies the Income Tax Law (MITL) and the Value Added Tax Law (VATL), impacting companies and users engaged in the Mexican digital market. While the new tax reform requirements become effective June 1, 2020, preparations for timely compliance need to begin immediately.
Spain – tax measures in response to COVID-19
Please find below new tax measures adopted by RDL 15/2020 within the frame of the COVID-19 crisis, in force as of 23 April:
Spain – tax measures in response to COVID-19
AUTOMATIC EXTENSION OF DEADLINES FOR TAX FILINGS:
Spanish Government has approved Royal Decree Law 14/2020, of 14 April 2020, which establishes an automatic extension of deadlines in case of SMEs (whose turnover volume has not exceeded 600,000 € in 2019) for the filing and payment of all tax returns (including VAT returns) with a deadline between 15 April and 20 May.
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Saudi Arabia – Temporary relief of some penalties
Further to the announced plan by the Saudi Cabinet, which has amounted to more than SAR 120 Billion in an effort to mitigate the implication of COVID-19 pandemic on the economic activities and private sector, the Ministry of Finance “MOF” has offered a temporary relief for some tax related penalties.
Find more information on the topic in the PDF below.
UK – Pay no import duty and VAT on medical supplies, equipment and protective garments (COVID-19)
Find out how to pay no import duty and VAT on protective equipment, relevant medical devices or equipment brought into the UK from non-EU countries during the coronavirus (COVID-19) outbreak.
Find more information on the topic by clicking the link below:
Germany – tax measures in response to COVID-19
The Federal Ministry of Tax announced within the Q&A section re Covid-emergency measures that donations of medical equipment, as well as the free provision of personnel for medical purposes, will be exempt from value added tax from April 3, 2020 until the end of the year for beneficiary organizations. Nothing was published yet.
If you are interested in further details please contact the following person.
Read More »Algeria – tax measures in response to COVID-19
General Measures
Executive Decree No.20-69 dated 21 March 2020, relating to measures to prevent and reduce the spread of the Coronavirus (Covid-19)
The aim of this decree is to reduce the social distance between the citizens especially in publics areas and in work places in order to reduce the spread of COVID 19 virus during this period.
Read More »India – Foreign Trade Policy extended with relaxation in timelines due to COVID-19 pandemic
The Foreign Trade Policy is notified for five years with annual supplements generally notified by the Directorate General of Foreign Trade (DGFT). The present Foreign Trade Policy notified in 2015 was valid until 31 March 2020. It was expected to be replaced by a new Foreign Trade Policy effective 1 April 2020.
Swiss pensions and COVID-19: funds are affected, but can also help employers
Many of our clients have been asking for, or are concerned about, the impact of COVID-19 on their Swiss pension funds. In our view, other than some tactical asset allocation decisions, there’s no need for panic.
The short-term will bring some pain through investment returns and lower interest rates, but the challenge for Swiss pension funds remains one for the long-term.
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Michaela Merz 