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Japan: Revised Enforcement Rule of the Electronic Books Preservation Act Seeks to Ease Requirements for Paperless Tax Documents

(Oct. 5, 2020) The amended Enforcement Rule of the Electronic Books Preservation Act (Enforcement Rule) will come into force on October 1, 2020. (Ministry of Finance (MOF) Ordinance No. 43 of 1998, amended by MOF Ordinance No. 24 of 2020.) The Enforcement Rule was amended to enable the following electronic records to be stored instead […]

Mexico: Constitutional Amendment on Tax Forgiveness Passed

(Mar. 26, 2020) On February 25, 2020, Mexico’s Congress passed a constitutional amendment generally prohibiting tax forgiveness except in a limited number of cases determined by statutory law. Background Mexico’s President Andres Manuel Lopez Obrador proposed this amendment in 2019, arguing that tax forgiveness powers had been exercised excessively and baselessly by previous administrations. Specifically, […]

Turkey: Parliament Passes Amendments to New “Valuable Real Estate Tax”

(Feb. 28, 2020) On February 14, 2020, Turkey’s Parliament adopted Law No. 7221, which, among other things, amends several provisions of the Real Estate Tax Law (Law No. 1319). The provisions in question were only recently introduced last December by Law No. 7194. The provisions of Law No. 7194 had introduced an annual “Valuable Real […]

Turkey: Digital Services, Accommodations, and Valuable Real Estate Taxes Introduced

(Jan. 14, 2020) On December 5, 2019, Turkey’s parliament passed Law No. 7194, which, among other things, introduced three new taxes. The Law, which was published in the Official Gazette on December 7, provides for a “digital services tax,” an “accommodations tax,” and a “valuable real estate tax.” Digital Services Tax This tax is assessed […]

China: Law on Resource Tax Passed

(Nov. 22, 2019) On August 26, 2019, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) adopted the PRC Resource Tax Law. The Law subjects 164 natural resources, including salt, crude oil, natural gas, coal, and other minerals, to the resource tax and prescribes their respective […]

Italy: Legislation on Economic Growth Enters into Force

(June 12, 2019) On May 1, 2019, a new decree-law with several measures intended to encourage economic growth entered into force in Italy. (Decree-Law No. 34 of April 30, 2019, Urgent Measures for Economic Growth and for the Resolution of Crisis Situations), GAZZETTA UFFICIALE [G.U., OFFICIAL GAZETTE], Apr. 30, 2019, G.U. website (in Italian).) New […]

China: Rules on Tax Deduction for Elderly Support Released

(Dec. 31, 2018) On December 22, 2018, the State Council of the People’s Republic of China (PRC or China) released the Interim Measures on Additional Special Deductions for Individual Income Taxes. The Measures, among other things, allow a taxpayer to deduct 24,000 Chinese yuan RMB (about US$3,500) per year from taxable income for the sake […]

China: Individual Income Tax Law Revised

(Sept. 24, 2018) On August 31, 2018, the Standing Committee of the National People’s Congress (NPC) of the People’s Republic of China (PRC or China) revised the PRC Individual Income Tax Law (IIT Law). Taking effect on January 1, 2019, the new IIT Law brings significant changes to China’s individual income tax regime. (Zhonghua Renmin […]

Switzerland: Abolition of Marriage Tax Penalty Proposed

(Apr. 5, 2018) On March 21, 2018, the Swiss Federal Council (the Swiss government) adopted a legislative proposal to abolish the “marriage tax penalty” (marriage penalty). The proposal is designed to resolve the decades-long controversy surrounding the issue. (Swiss Federal Council, Botschaft zur Änderung des Bundesgesetzes über die direkte Bundessteuer (Ausgewogene Paar- und Familienbesteuerung) [Message […]