taxation Archive

US Tax Season Begins

TweetShareSharePin0 Shares by Mike Godfrey,, Washington 22 February 2021 The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. Taxpayers have until Thursday, April 15, 2021, to file their 2020 tax return and pay any tax owed. The IRS

Cayman Tables Law For Digital Asset Business Regime

TweetShareSharePin0 Shares by Jason Gorringe,, London 17 November 2020 The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs). The Virtual Asset (Service Providers) Law, 2020 is intended to strengthen the Cayman Islands’ ability to regulate and attract persons

BVI Rules Out New Taxes In 2021 Budget

TweetShareSharePin0 Shares by Jason Gorringe,, London 17 November 2020 The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. In his 2021 Budget statement, Andrew Fahie, the territory’s Finance Minister, said: “The transition into e-Government will be

OECD Indicates New Focus On Virtual Currency Tax Issues

TweetShareSharePin0 Shares by Ulrika Lomas,, Brussels 20 October 2020 The OECD has released a new report on countries’ tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets. The report and announcement indicate that crypto assets will be a

Cyprus, US To Begin Exchanging CbC Reports

TweetShareSharePin0 Shares by Lorys Charalambous,, Cyprus 22 September 2020 Cyprus has announced that a deal for the exchange of country-by-country reports between the territory and the US is expected to become effective and cover reporting years starting on or after January 1, 2020. Secondary filing of CbC reports in Cyprus will therefore be necessary

UK Treasury Eliminate Digital Tax Obligation Abolition

TweetShareSharePin0 Shares by Jason Gorringe, Tax-News. com, London 31 August 2020 The UK Federal government has actually rejected conjecture that it will certainly reverse its electronic solutions tax obligation in a proposal to safeguard a post-Brexit open market arrangement with the USA. . The UK Treasury launched a declaration disregarding cases made in the Mail

German FM Scholz Optimistic About 2020 Digital Tax Consensus

TweetShareSharePin0 Shares by Ulrika Lomas,, Brussels 31 August 2020 German Finance Minister Olaf Scholz is optimistic that an international agreement on taxing the digital economy will be reached this year. Addressing the media following a two-day meeting of German-speaking finance ministers in Vienna, Scholz said that he is “confident” that an agreement will be

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