Lowtax Network: Latest Tax News Headlines

Lowtax Network: Latest Tax News Headlines

1,500 pages of detailed, factual information covering the tax and legal regimes in 35 offshore and 15 onshore countries.
  1. Revenue Jersey has released guidance for taxpayers filing online for the first time, ahead of the July 31, 2020, filing deadline.
  2. The Bermuda Monetary Authority has released a new consultation on the proposed Digital Asset Business Accounts Rules 2020.
  3. 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.
  4. The Cayman Government has approved an exemption from tourist accommodation tax for the period April 1, 2020, to September 30, 2020.
  5. The Jersey Government has announced the extension of the Co-Funded Payroll Scheme until at least the end of August 2020.
  6. 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.
  7. The Government of Jersey has announced that it will defer planned changes to the de minimis level for paying goods and services tax on unaccompanied imported goods for personal use.
  8. The Bahamas Department of Inland Revenue has announced a Tax Credit and Tax Deferral Employment Retention Programme, which will benefit businesses with an annual turnover of BSD3m (USD3m) or more and a minimum of 25 non-executive employees.
  9. Vanuatu has announced that the Council of Ministers has decided to freeze imposition of a number of tax and charges to shield taxpayers from the financial impact of COVID-19.
  10. Bermuda has issued guidance on calculating payroll tax for the period April 1, 2020, to March 31, 2021.