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.
Mexico approves significant tax reform
In brief
Mexico’s Congress approved modifications to the following laws on October 30: The Income Tax Law (MITL), the Value Added Tax Law (VATL), the Excise Tax Law (IEPS) and the Federal License Law (LFD), and the Federal Fiscal Code (FFC) (together, ‘the 2020 Mexican Tax Reform’). Enactment of the 2020 Mexican Tax Reform will occur on its date of publication in the Official Federal Gazette. The 2020 Mexican Tax Reform will enter into effect January 1, 2020, unless an article expressly states a different effective date.Read More »
On October 1, 2019, the Japanese consumption tax (JCT) rate will be raised from 8% to 10%. Taxable sales and taxable purchases conducted on or after that date are generally subject to JCT at 10%. However, transactions of specific items will remain subject to JCT at 8%. This is mandatory and not optional.Read More »
I would like to invite you to join our next Tax Function of the Future webcast: Solving legal entity forecasting challenges.
Webcast date and time:
Tuesday, December 11, 2018
2:00 pm – 3:00 pm ET
In this webcast, our panel of specialists will explore:
Click here for registration
Bildquelle: unsplash.com
India successfully implemented its most ambitious tax reform on 1st July 2017. The transition to the new regime has been relatively smooth except for the technology related challenges for GST compliances. The Government of India (‘GOI’) has also been quick in taking remedial action such as simplifying the GST compliances, reduction in GST rates and enforcing the anti-profiteering provisions. Read More »
In brief
In his first address to a joint session of Congress, President Donald Trump called for action on tax reform to “restart the engine of the American economy – making it easier for companies to do business in the United States and much harder for companies to leave.” While offering few details, President Trump said that his economic team is “developing historic tax reform that will reduce the tax rate on our companies so that they can compete and thrive anywhere and with anyone.” Read More »
Chinese Premier Li Keqiang mentioned on Saturday during the National People Congress meeting that B2V will be fully rolled out on May 1, expanding the B2V scope to construction, real estate, financial services and consumer services.Read More »
The Puerto Rican government is considering implementing a comprehensive tax reform package between January and March 2015, which would replace the current sales and use tax system enacted in 2006.Read More »
Recent study from Americans for Tax Reform and the Canadian Taxpayers Federation has found that, of the 123 Unrestricted Free Agents who changed their teams in the NHL during the 2014 off-season, 57% went to teams in states or provinces with lower taxes. CTF National Research Director Jeff Bowes said “The numbers don’t lie; NHL players take a financial hit to play in certain jurisdictions… the fact remains that disparities in tax rates leave some teams at a major disadvantage”. Read More »
PwC Switzerland ITX
Michaela Merz 