Category: Taxation
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Article 41 G of the Chilean Income Tax Law
Article 41 G of the Chilean Income Tax Law establishes the CFC (Controlled Foreign Corporation) rules in Chile. These rules require Chilean taxpayers-whether individuals or entities domiciled, resident, or incorporated in Chile-who directly or indirectly control foreign entities, to recognize certain types of income earned by those foreign entities as if they had accrued or…
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Ordinance No. 51/2019 in Portugal
Ordinance No. 51/2019 in Portugal refers to a modification of the local finance law, enacted on August 16, 2019, as part of the country’s broader administrative decentralization process. This ordinance specifically created a decentralization financing fund and redefined how municipalities participate in VAT revenues. It was implemented alongside Law No. 50/2018, which transferred various powers…
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Ministerial Order No. 367/2017 of Portugal
Ministerial Order No. 367/2017 of Portugal, published on December 11, 2017, approves the official form and filing instructions for the Country-by-Country Reporting (CbCR) notification obligation, known as “Modelo 54” (Model 54). This form is used by multinational enterprise (MNE) groups to notify the Portuguese tax authorities about the entity responsible for submitting the CbCR, as…
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Article 121-A of the Corporate Income Tax Code in Portugal
Article 121-A of Portugal’s Corporate Income Tax Code establishes the requirements for Country-by-Country Reporting (CbCR) for multinational groups operating in Portugal. This provision aligns with international standards, particularly the OECD’s BEPS Action 13 and relevant EU directives. Who Must File The obligation to submit a CbCR applies to: Content of the CbCR The report must…
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Public Notice 1117 (2017) in South Africa
Public Notice 1117 related to Country-by-Country (CbC) reporting in South Africa was published in 2017. Key details include: Thresholds: The 2017 Public Notice 1117 aligns with OECD BEPS Action 13 requirements.
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Section 25 of the Tax Administration Act, 2011 in South Africa
Section 25 of the Tax Administration Act, 2011, deals with the submission of tax returns in South Africa. In summary, Section 25 ensures that tax returns are complete, accurate, and submitted in the manner required by SARS, holding the signatory responsible for the contents of the return. Country by Country Reporting Section 25 of South Africa’s Tax Administration…
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Article 11-2 of the Law for Coordination of International Tax Affairs (LCITA) in Korea
Article 11-2 of the Law for Coordination of International Tax Affairs (LCITA) in Korea is a specific provision within the broader framework of the LCITA, which is designed to prevent double taxation and tax avoidance, and to facilitate international cooperation in tax matters. The LCITA is the principal legislative basis for Korea’s transfer pricing, international tax…
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Article 134 of the Tax Code of the Republic of Kazakhstan
Article 134 of the Tax Code of the Republic of Kazakhstan regulates the taxation of certain categories of organizations, specifically non-profit organizations and those engaged in activities within the social sphere. It establishes the conditions under which these organizations may be subject to special rules for determining taxable income and the relevant tax reporting requirements.…
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Tax Administration Act § 8-13 in Norway
Section 8-13 of the Norwegian Tax Administration Act (skatteforvaltningsloven) concerns the obligation to submit a notification for registration regarding value added tax (VAT, merverdiavgift) and special taxes (særavgifter). The provision states: “Den som skal registreres for merverdiavgift eller særavgifter, skal levere melding om dette til skattemyndighetene.”(Those who are required to register for VAT or special taxes…
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Corporate Income Tax Act (CITA), Articles 92a–92d in Bulgaria
Articles 92a–92d of the Bulgarian Corporate Income Tax Act (CITA) relate to the procedures and requirements for the annual corporate tax return, declarations, and associated obligations for corporate taxpayers in Bulgaria. While the full text of these specific articles is not directly quoted in the search results, the context and related provisions can be summarized…
CbC Reporting 