Category: Taxation
-
Verifactu: Ensuring Spanish Fiscal Transparency for International Companies
If you’re part of a major global group, with a small branch in Spain, despite your size, Spanish tax law demands that even a modest local office complies with national invoicing rigour. That’s where Verifactu comes in: Spain’s legal framework for secure, traceable electronic invoicing. What is Verifactu and why does it matter? Who must…
-
Is Your Business Ready for TicketBAI in the Basque Country?
The TicketBAI system is a mandatory fiscal‑control mechanism in the three provinces of the Basque Country (Álava, Gipuzkoa and Bizkaia). It requires all businesses and self‑employed professionals with fiscal residency in these regions to issue invoices through certified software that reports sales operations digitally and in real time. What Is TicketBAI and Why Is It…
-
DGT‑R‑001‑2018 in Costa Rica
Resolution DGT-R-001-2018 was issued by the Costa Rican General Directorate of Taxation (Dirección General de Tributación, DGT) on January 11, 2018. It establishes the obligation to file the Country-by-Country Report (CbC Report) for certain multinational groups, in line with OECD BEPS Action 13. Who is subject to this resolution? What information must be reported? Deadlines and…
-
Director General of Taxes Regulation No. PER-29/PJ/2017 in Indonesia
Director General of Taxes Regulation No. PER-29/PJ/2017 (“PER-29”) is an implementing regulation issued by Indonesia’s Directorate General of Taxation (DGT) on December 29, 2017. It details the procedures for the management of Country-by-Country Reporting (CbCR) in Indonesia, supplementing the requirements set out in Ministry of Finance Regulation No. 213/PMK.03/2016. Key Provisions of PER-29/PJ/2017 Scope and…
-
Minister of Finance Regulation No. 213/PMK.03/2016 in Indonesia
Minister of Finance Regulation No. 213/PMK.03/2016 (PMK-213) is a regulation issued by the Indonesian Ministry of Finance that governs additional documentation and information requirements for taxpayers engaging in transactions with related parties. The regulation, effective from December 30, 2016, aims to align Indonesia’s transfer pricing documentation rules with international standards, particularly the OECD’s Base Erosion…
-
Transfer Pricing Bylaws issued in February 2019 in Saudi Arabia
On 15 February 2019, Saudi Arabia’s General Authority of Zakat and Tax (GAZT, now ZATCA) issued the final Transfer Pricing (TP) Bylaws, marking a significant development in the country’s tax and compliance landscape. These Bylaws were published after a public consultation on a draft version released in December 2018 and were accompanied by a detailed FAQ…
-
Business Tax (Country-by-Country Reporting) Regulations, 2021 in Seychelles
Seychelles has implemented Country-by-Country (CbC) Reporting regulations in line with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 framework, which aims to enhance tax transparency among large multinational enterprises (MNEs). Key Features of the Regulations Legislative Updates in 2021 While the main CbC reporting obligations were introduced in 2019, the Business Tax (Amendment…
-
DIAN Resolution No. 000071 of 2019 in Colombia
DIAN Resolution No. 000071 of 2019 in Colombia prescribes the format for the Fiscal Reconciliation Report (Reporte de Conciliación Fiscal) as required by numeral 2 of article 1.7.1 of Decree 1625 of October 11, 2016. This resolution applies to the tax period 2020 and modifies article 1 of Resolution 000052 of October 30, 2018, which…
-
Decree 2120 and 2150 of 2017 in Colombia
Decree 2120 of 2017 and Decree 2150 of 2017 are important regulatory instruments issued by the Colombian Ministry of Finance that address different aspects of the country’s tax system. Decree 2120 of 2017 Decree 2150 of 2017 Country by Country Reporting Decree 2120 of 2017 in Colombia directly relates to the country-by-country (CbC) reporting requirements…
-
Article 260-5 of the Colombian Tax Code
Article 260-5 of the Colombian Tax Code establishes the requirements for transfer pricing documentation for taxpayers engaged in transactions with related parties. The key points of Article 260-5 are as follows: Country by Country Reporting Article 260-5 of the Colombian Tax Code is directly related to the country-by-country reporting (CbCR) requirements as part of Colombia’s…
CbC Reporting 