Mexico’s 2020 Tax Reform—What To Expect?

The tax overhaul in Mexico is intended to improve revenue collection and provide strengthened legal tools for the tax authorities. José Carlos Silva and Jorge Ramón Galland Ríos look at the provisions in the reform with a focus on those which address BEPS-related measures and tax evasion.

For decades, the Bloomberg Tax International Forum has convened international tax experts from all over the globe. In this series, Forum members will regularly share their views on […]

By |March 26th, 2020|

Coronavirus: Recent Tax-Related Developments

Possible Tax Filing and Payment Extension. At a House subcommittee meeting yesterday, March 11, 2020, Treasury Secretary Steven Mnuchin announced that the Treasury Department is considering extending the deadline for certain taxpayers and small businesses to pay taxes until December 31, 2020. No interest or penalties would be imposed on taxpayers filing by the extended deadline. Mnuchin said that the extension would amount to more than $200 billion of liquidity.

Sections 7508A of the Internal […]

By |March 24th, 2020|

Tax And Real Estate – Tax Authorities Scrutinizing Real Estate Transactions

Following the Budget 2019 announcements, the Canada Revenue Agency (“CRA”) launched a Real Estate Task Force whose mission is to deter tax non-compliance in the real estate market.

The federal government has allocated significant funds and resources to scrutinize real estate transactions in which parties have failed to comply with the appropriate regulations.

Here you will find a CRA questionnaire sent to selected individuals and corporations as part of the audit process. The questionnaire is broad, contains over 35 […]

By |March 23rd, 2020|