December 2002

Issue

Date

Subject

2002-26

December 19, 2002

  • Mexico-United States: Follow-Up on Recently Signed Second Protocol to Income Tax Treaty
  • Argentina: Tax Laws to Be Considered Before the 2003 Budget

2002-25

December 12, 2002

  • Canada: Auditor General Raises Concern Over Foreign Affiliate Regime
  • Mexico: Opportunities for Employers Relating to Healthcare and Housing Contributions in the Wake of a Supreme Court Decision
  • Mexico: Tax Treaty with Czech Republic
  • Argentina: Temporary Reduction in Rate of VAT
  • Argentina: Bad Debt Deduction Limitations


November 2002

Issue

Date

Subject

2002-24

November 26, 2002

  • Canada: Foreign Investment Entities and Non-Resident Trusts — New Tax Regime Set to Take Effect for 2003
  • Canada: Last Call for Nova Scotia's M&P Investment Tax Credit — Arrange to Purchase Qualifying Assets Before 2003
  • Mexico: Recent Income Tax Changes Under the Tenth Amendment to the Miscellaneous Tax Resolution for 2002 
  • Colombia: Finally…Transfer Pricing Rules in Colombia?
  • Chile: Economic Stimulus Package Becomes Law

2002-23

November 14, 2002

  • Canada: Ontario Budget Bill Confirms Deferral of Corporate Tax Rate Reduction
  • Mexico: New Benefits for Importers, Maquiladoras, and PITEX
  • Brazil: Tax Registration Number Required for Certain Foreign Entities
  • Chile: Double Taxation Treaty with Denmark Is Signed


October 2002

Issue

Date

Subject

2002-22

October 31, 2002

  • Canada: Income Tax Treatment of Internet Transactions with Non-Residents
  • Mexico: Tax Deferral Allowed for Maquiladoras' First-Time Investment in Mexico
  • Chile: Update on Agreements for the Avoidance of Double Taxation
  • VAT: Overview of VAT Rules in Latin America

2002-21

October 17, 2002

  • Canada: New Draft Legislation for Non-Resident Trusts and Foreign Investment Entities
  • Canada: CCRA Proposes New Administrative Positions on Interest Deductibility
  • Mexico: Federal Tax Court to Follow Supreme Court's Jurisprudence as to the Unconstitutionality of Tax Laws
  • Colombia: Tax Reform Bill Is Submitted for Congressional Approval
  • Argentina: Commission to Address Inflation Adjustments for Tax Purposes

2002-20

October 3, 2002

  • Mexico: Restrictions on Drawbacks and Duty Deferrals: A Note on the Benefits to the Electronics Manufacturing Industry
  • Argentina: Proposals to Amend the Income Tax Law
  • Chile: Economic Stimulus Package Still Under Discussion


September 2002

Issue

Date

Subject

2002-19

September 19, 2002

  • Canada: Goods and Services Tax and e-Commerce — New Policies Announced
  • Canada: Ontario Corporate Tax Returns May Be Reassessed After Normal Statute-Barred Period
  • Mexico: New Tariff Schedule Aims to Promote Competitiveness in Electronic and High-Tech Industries
  • Mexico: Double Taxation Treaty Signed with Australia
  • Costa Rica: Four Temporary Taxes to Cope with Deficit
  • Netherlands Antilles: Customs Agreement Between United States and the Netherlands Is Extended to Netherlands Antilles and Aruba
  • Brazil: Deadline for Reporting Offshore Profits Approaches
  • Argentina: Program Allowing Use of Bonds to Satisfy Tax Obligations Is Suspended

2002-18

September 4, 2002

  • Mexico: Value Added Tax Relief Extended for Temporary Imports
  • Mexico: Reduction in Import Duties for Liquefied Natural Gas
  • Costa Rica: Excise Tax Rates Changed
  • Colombia: Tax Reform Bill
  • Venezuela: Guidance Establishes November 18 Deadline for Filing Certain Transfer Pricing Statements
  • Venezuela: Hike in Tax Rates: Bank Debit Tax and Value Added Tax


August 2002

Issue

Date

Subject

2002-17

August 22, 2002

  • Mexico: Extension of Transfer Pricing Relief for Maquiladoras
  • Colombia: New National Security Measures Include a Tax on Equity
  • Brazil: Rio de Janeiro Imposes New State-Level VAT on Oil Platform Construction Imports
  • Brazil: Tax Authorities Add Countries to "Tax Haven" List

2002-16

August 8, 2002

  • Canada: Classifying Canadian Trusts for U.S. Tax Purposes
  • Andean Region: United States Enacts Presidential Trade Promotion Authority; Act Includes Andean Trade Preference Measures
  • Brazil: Tax Considerations in Planning an Acquisition in Brazil
  • Chile: Update on Tax Relief Measures in the Economic Stimulus Package


July 2002

Issue

Date

Subject

2002-15

July 25, 2002

  • Canada: New Treaties Signed with Norway and Moldova; New Treaties with Czech Republic, Slovenia Enter Into Force
  • Costa Rica: Tax Treatment of Certain Trusts
  • Brazil: New Rules and Rates for "Turnover Taxes" in the Automotive Industry
  • Argentina: New Measure Offers Companies Some Relief from the Fiscal Crisis
  • Chile: Economic Stimulus Package Includes Tax Relief Measures

2002-14

July 11, 2002

  • Canada: Withholding Tax Waiver Required Even When Non-Resident Operates Through a Canadian Permanent Establishment
  • Canada: New Treaty Between Canada and United Arab Emirates Is Signed
  • Colombia: VAT Must Be Charged on Digitally Downloaded Software
  • Venezuela: Proposed VAT Changes
  • Peru: SUNAT Imposes New VAT Withholding Rules for Purchasers
  • Argentina: New Rules Take Effect for Credit Invoices
  • Chile: Update on Changes Relating to International Loans and Thin Capitalization Rules


June 2002

Issue

Date

Subject

2002-13

June 27, 2002

  • Canada: June 30 Corporate Income Tax Filing Deadline Extended
  • Canada: New Brunswick Corporate Tax Cuts Enacted for U.S. GAAP
  • Canada: Ontario’s 2002 Budget Postpones Tax Cuts
  • Colombia: Favorable Tax Treatment of Certain Leaseback Contracts Relating to Infrastructure Projects
  • Peru: New Regulations Clarify Application of Preferential Tax Rate for Interest Payments to Foreign Financial Entities
  • Brazil: Minimum Service Tax Rate Is Approved

2002-12

June 13, 2002

  • Canada: Family Income-Splitting Interest Rate Rising -- Act Before July 1
  • Canada: Belgium and Canada Sign New Income Tax Treaty
  • Canada: Italy and Canada Sign New Income Tax Treaty
  • Canada: First Income Tax Treaty Between Canada and Mongolia Is Signed
  • Mexico: Details of Technical Corrections in the Miscellaneous Tax Resolution 2002
  • Guatemala: Asset Tax and Potential Effects on Foreign Investors
  • Aruba: New Guidelines for Establishing a Captive Insurance Company in Aruba
  • Brazil: Financial Transactions Tax Is Renewed
  • Chile: Taxation of Mining Operations in Chile


May 2002

Issue

Date

Subject

2002-11

May 30, 2002

  • Canada: Supreme Court Disarms "Reasonable Expectation of Profit" Test
  • United States-Andean Region: Senate Approves Fast-Track/Andean Trade Bill; Conference Pending
  • Mexico: Court Rules on Unconstitutionality of Property Tax
  • Mexico: Miscellaneous Tax Resolution 2002 Provides Technical Corrections
  • Guatemala: Effect of Minimum Tax on Export and Maquila Operations
  • Costa Rica: Update of Recently Published Tax Decrees and Resolutions
  • Aruba: Overview of Draft Dividend Tax and Tax Imputation Legislation
  • Argentina: New Rules Relating to Individual Wealth Tax Effectively Shift the Tax Burden to Companies

2002-10

May 16, 2002

  • Canada: General Anti-Avoidance Rule Is Not Unconstitutional
  • Mexico: New Transfer Pricing Rule Is Intended to Provide Relief for Maquiladoras
  • Netherlands Antilles: Venezuela Takes Netherlands Antilles Off "Black List"
  • Argentina: Government Extends Tax Return Deadlines
  • Chile: Taxation of Capital Gains from the Sale of Shares of Stock

2002-09

May 2, 2002

  • Canada: CCRA Questions Tax Residency of Offshore Subsidiaries
  • Costa Rica: Automatic Change to Accelerated Method of Depreciation for Certain Equipment
  • Colombia: VAT Credits Under the Simplified System Must Follow the Rules of Proportionality
  • Brazil: Update on Financial Transactions Tax; Social Contribution Basis Increase Is Repealed


April 2002

Issue

Date

Subject

2002-08

April 18, 2002

  • Canada: Withholding Tax Update for Non-Residents with Rental Property in Canada
  • Canada: Nova Scotia Budget Hikes NSULC Fees
  • Canada: Income Tax Treaty with Germany Enters Into Force
  • Mexico: Decree Increases the General Tariff on Steel Imports
  • Netherlands Antilles: Reforms Aim to Foster Tax Transparency
  • Netherlands Antilles: Tax Information Exchange Agreement with the United States Is Signed
  • Costa Rica: Certain Tax Returns Must Be Filed Using the Internet
  • Argentina: How to Allocate Gross Receipts Tax Relating to Internet Sales

2002-07

April 04, 2002

  • Canada: Provincial Budget Round-up
  • Canada-UnitedStates: Guidance Concerning Taxation of Pension Plans of U.S. and Canadian Residents
  • British Virgin Islands: Tax Information Exchange Agreement with the United States Is Signed
  • Netherlands Antilles: Proposed Code Changes May Open Opportunities in the Financial Services Sector
  • Venezuela: Bank Debit Tax Takes Effect for One Year
  • Colombia: New Obligation to Report Tax I.D. Number
  • KPMG Survey: Corporate Income Tax Rates Continue to Decline


March 2002

Issue

Date

Subject

2002-06

March 21, 2002

  • Canada: Withholding Tax Update for Non-Residents Rendering Services in Canada
  • Canada: Family Income-Splitting Interest Rate Hits All-Time Low
  • Mexico: Ministry of Finance Issues New Decree Providing Exemptions for the Special Tax on Corn Syrup and for Other Taxes
  • Mexico: Provisions of the Miscellaneous Tax Resolution Are Extended
  • Costa Rica: New Rules for Offsets and for the Sharing of Information by Public Entities
  • Bahamas: Commitment to Join OECD’s Tax Havens Initiative
  • Argentina: Recent Changes to Tax Audit Procedures
  • Argentina: Government Considers New Tax Measures

2002-05

March 7, 2002

  • Canada: Update on Tax Issues for Non-Residents of Canada
  • Canada: Winter 2002 Round-up of Sales and Local Tax Issues
  • Canada: BC Budget Raises Sales Tax
  • Mexico: New Mexican Tax Laws for 2002: Special Tax on Production & Services
  • Mexico: New Mexican Tax Laws for 2002: VAT and New Luxury Tax
  • Colombia: Foreign Companies Planning to Perform Permanent Activities in Colombia Should Establish a Branch in the Country
  • Venezuela: New Transfer Pricing Measures Modify the Advance Pricing Agreement Rules
  • Argentina: Payments of Financial Transactions Tax Are No Longer Creditable Against Other Types of Taxes
  • Argentina: Taxpayers May Satisfy Tax Obligations in Installments


February 2002

Issue

Date

Subject

2002-04

February 21, 2002

  • Canada: Resource Companies — Flow-through Share Commitment Tough to Meet
  • Costa Rica: New Regulations on Free Zones and Drawback Incentive System
  • Colombia: New Customs Code for Colombia
  • Colombia: Tax Treatment of Technical Services Rendered Abroad or “From” Abroad
  • Netherlands Antilles: Additional Focus on the New Fiscal Framework and Tax Arrangement
  • Argentina: Web Cast: Tax Issues for Foreign Investors to Anticipate as Events Unfold in Argentina
  • Venezuela: New 2002 Transfer Pricing Rules

2002-03

February 7, 2002

  • Canada: 2002 Installment Holiday for Small Business
  • Canada: New Canada-Australia Protocol Cuts Rates
  • Mexico: New Mexican Tax Laws for 2002: Legal Entities
  • Mexico: New Mexican Tax Laws for 2002: Foreign Residents
  • Mexico: New Mexican Tax Laws for 2002: Preferential Tax Regimes
  • Costa Rica: Government Modifies the Period for Filing Withholding Taxes, Defines Who is a "Major Taxpayer"
  • The Bahamas: United States and the Bahamas Sign Tax Information Exchange Agreement
  • Colombia: Carryforward of Tax Losses May Be Extended From 5 to 7 Years
  • Brazil: House Commission to Consider Withholding Tax on Profits and Dividends Paid Abroad
  • Argentina: Tax Implications of the Public Emergency Law


January 2002

Issue

Date

Subject

2002-02

January 24, 2002

  • Canada: Window of Opportunity for Income Splitting
  • Canada: New Bulletin on Residence Status for Individuals
  • Canada: Treaty With Ecuador Enters Into Force
  • Mexico: Video Conference on Mexico’s Tax Reform Is Set for February 12
  • Costa Rica: Update -- Application of Lease Contracts Accounting Standard Suspended, Audit Selection Criteria Announced, and Other Developments
  • Panama: United States and Panama Discuss Tax Information Exchange Agreement
  • Netherlands Antilles: New Fiscal Framework and Tax Arrangement for the Kingdom
  • Venezuela: Summary of Income Tax Law Reform

2002-01

January 10, 2002

  • Canada: In Good Form for Regulation 105 Withholding Tax Waiver Application
  • Canada: Ontario Corporate Tax Cuts Now Law
  • Mexico: Highlights of Mexican Tax Reform
  • Costa Rica: Tax Authorities Adopt International Accounting Standards
  • Colombia: Update -- Constitutional Court Decision Extends Deadline for Claiming VAT Credits and Deductions
  • Brazil: Congress Amends Constitution to Allow New Contributions on Imports; President Increases Excise Tax on Certain High-Tech and Telecommunications Product
  • Argentina: Tax Modifications Introduced Shortly Before the New Year

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