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Brazil: Regulatory Changes in 2020

In 2020, numerous regulatory changes can be expected in Brazil which will affect the following topics and systems: SPED (EFD/ECD) E-Invoicing GTIN (Global Trade Item Number) Electronic Document Manifesto – MDFe BPe Electronic Ticket for ICMS FATe – Plac Electronic Invoice     What is new for ECD and EFD in 2020? Digital Tax Bookkeeping…

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Brazil: Changes to EFD-Reinf Delivery Standard for 3rd eSocial Group

Brazil tax authority RFB published the new Normative Instruction No. 1,921, which amends RFB Normative Instruction 1,701, of March 14, 2017, which establishes the Digital Tax Bookkeeping of Retentions and Other Tax Information (EFD-Reinf).   What has changed with the new Normative Instruction? One of the changes concerns the application of of EFD-Reinf for the…

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Mexico: New Tax Regulations for 2020

At the end of December 2019, new tax measures for 2020 (Resolución Miscelánea para 2020) were published in Mexico in the Official Journal, which contain provisions on the following tax issues: VAT Income Tax Act (LISR) Tax law measures Taxation of digital services   VAT In general, a VAT rate of 6% applies except in…

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Brazil: New INSS tax rates for 2020

With the approval of the reform of social security system (constitutional amendment 103, 2019), new INSS tax rates for wages were set in Article 28. The new rates will apply from March 2020. The INSS service in Brazil is responsible for all social security issues and related social security contributions. INSS contribution rates are paid…

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Argentina: Immediate Tax Measures in Force

Since December 23, law 27,541 is in effect in Argentina, which introduces numerous immediate tax measures to support the recovery from the economic crisis. The law contains changes related to: Income tax and withholding tax rates for dividends inflation adjustment for tax purposes Regularization of tax liabilities for micro, small or medium-sized companies (called MiPyMEs…

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Mexico: 2020 Tax Reform

On December 9, the law for a new tax reform was published in Mexico. In addition to combating tax evasion, the reform also aims to expand the tax base to increase tax revenue. In particular in the areas of international taxation and taxation of the digital economy, there are significant changes, which are outlined below.…

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Ecuador: New multiple payments form for e-invoicing

The Ecuadorian tax authority SRI (Servicio de Rentas Internas) has replaced the prior form 106 with new version in order to allow for multiple tax payments through e-invoicing. This new online service is the result of the permanent simplification process that the SRI carries out for the benefit of taxpayers and the general public.  …

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Mexico: Downpayment Management via CFDI

The Mexican Tax Administration (SAT) has defined with the new version 3.3 of CFDI how to manage advance payments for goods or services.   CFDI documents (Compromising Fiscal Digital por Internet, digital tax documents via Internet) in Mexico are: e-invoices Payroll credits and direct debits rental receipts numerous other tax documents   What is changing…

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Colombia: New information on the Economic Development Act

The Act to Promote Economic Growth (Proyecto de Ley No. 278 de 2019) was introduced in early autumn and contains various tax measures intended to mitigate the effects of a Constitutional Court ruling on the constitutionality of the 1943 Act of 2018. The basis for the amendment can be found here.   What changes have…

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