The Government of the Cayman Islands has ruled out the introduction of direct taxes or new indirect taxes in response to the COVID-19 pandemic.
p>The European Commission has announced plans for a new Directive on Administrative Cooperation, on the exchange of information on online platforms‘ sales, and a new Communication on Tax Good Governance.
Hong Kong’s Inland Revenue Department has updated its guidance on Advance Pricing Agreements to reflect tax legislative changes in recent years and the territory’s response to the OECD’s base erosion and profit shifting Action Plan.
The European Commission has approved under the Temporary State Aid Framework a Cypriot aid scheme allowing for the deferral of VAT payments by companies affected by the coronavirus pandemic.
The British Virgin Islands International Tax Authority has issued a statement on the due diligence obligations required of financial institutions in relation to the Common Reporting Standard.