A weekly summary of the top weekly tax news, trends
and developments in the Americas

     This week's tax news from the Americas

• Canada sets entry-into-force date for Digital Services Tax
  On 3 July 2024, an Order in Council (the OIC) established that Canada's Digital Services Tax Act (DSTA) comes into force 28 June 2024.  Now that the DSTA is law and entered into force, consideration must be given to the potential implications of the new tax, including considering the "in-scope" revenue, developing the necessary processes to comply with the DSTA, and reviewing whether existing systems capture the information needed to calculate and report the new tax.

• Argentine tax authorities extend suspension of VAT and Income Tax exclusion certificates on imports
  Argentina’s Federal Administration of Public Revenues has suspended from 30 June 2024 to 31 December 2024 the validity of exemption certificates for the additional value-added tax (VAT) and income tax withholdings on the import of certain goods.

• Argentina enacts tax package
  On 8 July 2024, the Argentine Government enacted, among other measures, the Special Incentive Regime for Large Investments (RIGI) and an amnesty regime for tax, customs and Social Security obligations that were due up to 31 March 2024. A separate amnesty regime applies for assets. Other changes include reducing the Personal Assets Tax from fiscal year 2023 onward.

• Brazil tax authorities rule on treatment of payments for right to commercialize or distribute software
  In Private Letter Ruling No. 177, Brazil’s tax authorities (RFB) ruled that payments made abroad for the right to commercialize or distribute software are royalties for Brazilian tax purposes and, therefore, are subject to a 15% withholding tax. Further, the RFB ruled that payments for the right to distribute or license cloud-based platforms, without transferring source code, are not subject to the 10% Contribution for Intervention in the Economic Domain.

     This week's newsletters

• Report on recent US international tax developments - 12 July 2024
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.

     Upcoming EY webcasts

• 16 July: Sustainability Tax webcast - net zero transition and tax function strategy
• 30 July: Global economic outlook: Thriving in a new normal
• 9 August: Tax in a time of transition: US legislative, economic, regulatory and IRS developments

     Recently archived webcasts

• 2 July: Tax Policy Matters: EU Tax Policy in Transition: recent developments and the new Commission's agenda

A calendar of all upcoming EY webcasts is available.

     Recent EY podcasts

• EY Podcast: Weekly US international cross-border taxation news for week ending 12 July 2024
• EY Podcast: Monthly ITS Washington Dispatch (June 2024)
• EY talks tax: Tax in a time of transition (21 June 2024)
• EY talks tax: Accounting for income taxes - A quarterly perspective (18 June 2024)
• EY talks tax: Domestic tax quarterly webcast series - A focus on state tax matters (12 June 2024)

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

      This week's EY Global Tax Alerts

     Africa

• Angola extends deadline for submitting 2023 transfer pricing documentation to 31 July 2024
• Ethiopia issues directive to review list of goods exempt from VAT
• Nigeria issues deduction of tax at source (withholding) regulations 2024
• South Africa extends blanket concession period for individuals with pending visa, waiver and appeal applications until 31 December 2024

     Asia

• China announces non-Chinese nationals with Hong Kong or Macao permanent residency eligible for five-year China Mainland travel permit
• Hong Kong passes bill on patent-box tax incentive
• Japan implements relaxed requirements for Ukrainian nationals seeking to obtain short-term visas

     Europe

• Czech Republic implements amended regulations governing employment of third-country nationals
• Denmark proposes extending the Special Act on displaced persons from Ukraine until March 2026
• Dutch regulations governing EU Blue Cards amended
• Finland begins conducting automated immigration compliance checks of foreign specialists holding residence permits
• Finland further reforms VAT and insurance premium tax rates
• Gibraltar issues Budget 2024, including corporate tax increases
• Ireland announces new visa requirement for nationals of Botswana and South Africa
• Poland introduces extended temporary protection and simplified procedures for Ukrainian nationals in Poland
• Portugal adopts tax incentives for capital market development and non-financial companies' capitalization
• Portugal extends validity of visas and residence permits until 30 June 2025
• Slovenia's administrative unit staff ends strike, immigration services resume
• The European Council extends the Temporary Protection Directive until March 2026
• Ukrainian nationals under the Temporary Protection Directive may now register with the Swedish Population Registry
• UK General Election 2024 results in first Labour Government in 14 years

   Middle East

• Saudi Arabia announces 13th wave of Phase 2 e-invoicing integration
• Saudi Arabia further extends tax amnesty initiative until 31 December 2024

   Oceania

• Australian 15% global and domestic minimum taxes law introduced into Parliament

      This week's EY Industry publications

     Real Estate, Hospitality & Construction

• Compounding barriers to home ownership for Gen Z

Additional resources

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About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Brittenham, writer and editor

Distributed weekly to all Americas Tax personnel.