Americas - International Tax Newsletter

International Tax Americas January 2025

This e-newsletter gives you an overview of international tax developments being reported globally by KPMG member firms in the Americas Regions between 1 January and 31 January 2025.

Anguilla	Argentina
Bahamas	Barbados
Canada	Cayman Islands
Chile	Colombia
Dominican Republic	El Salvador
Guyana	Honduras
Jamaica	Mexico
Panama	Paraguay
Venezuela	Virgin Islands (British)
United States

For a full summary of global tax developments, visit kpmg.com/TaxNewsFlash.

To contact the International Tax Team email internationaltax@kpmg.com.

To register for the International Tax webcasts, click here.

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Rodney Lawrence

Head of Consulting for Strategic Corporates, Tax & Legal

KPMG International

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Anguilla

Anguilla
Tax legislation approved and regulatory update	Indirect tax	06 January 2025	Goods and services tax compliance announcement for commercial rental properties. Read more.

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Argentina

Argentina
Tax legislation approved and regulatory update	Tax compliance	21 January 2025	Special procedure for refunds of PAIS tax. Read more.
Tax legislation approved and regulatory update	Indirect tax	03 January 2025	Rate and maximum amounts of statistics fee on certain imports. Read more.
Tax legislation approved and regulatory update	Indirect tax	02 January 2025	Suspension of withholding tax and value added tax on certain imported goods. Read more.

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Bahamas

Bahamas
Tax legislation approved and regulatory update	Tax compliance	31 January 2025	Updated FATCA / common reporting standards reporting deadlines. Read more.

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Barbados

Barbados
Tax legislation approved and regulatory update	Tax compliance	06 January 2025	Reportable and participating jurisdictions under the common reporting standards. Read more.

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Canada

Canada
Tax legislation approved and regulatory update	Others	08 January 2025	Parliament suspended until March 2025, effect on tax legislation. Read more.
Tax legislation approved and regulatory update	Income tax	08 January 2025	2024 tax rates and other changes to consider for tax accounting purposes. Read more.

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Cayman Islands

Cayman Islands
Tax legislation approved and regulatory update	Tax compliance	03 January 2025	Updates on upcoming common reporting standards comprehensive reviews. Read more.

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Chile

Chile
Tax legislation approved and regulatory update	Treaties	23 January 2025	Unemployment fund management company qualifies for benefits of U.S. income tax treaty. Read more.

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Colombia

Colombia
Tax legislation approved and regulatory update	Income tax	27 January 2025	Tax authority clarifies tax treatment for holding companies. Read more.

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Dominican Republic

Dominican Republic
Proposed legislation	Income tax	30 January 2025	Proposed changes to withholding tax in livestock sector, guidance on capital returns by trusts and transfers of real estate. Read more.

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El Salvador

El Salvador
Tax legislation approved and regulatory update	Transfer pricing	06 January 2025	Program to enhance audit and investigation capabilities for tax crimes and transfer pricing. Read more.

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Guyana

Guyana
Proposed legislation	Various tax topics	21 January 2025	Tax proposals in 2025 budget. Read more.

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Honduras

Honduras
Proposed legislation	Various tax topics	14 January 2025	New obligation to submit financial statements with income tax returns, updated withholding tax tables applicable to salaries. Read more.

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Jamaica

Jamaica
Tax legislation approved and regulatory update	Various tax topics	29 January 2025	Tax settlement program waives interest, penalties, and surcharges. Read more.

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Mexico

Mexico
Tax legislation approved and regulatory update	Income tax	21 January 2025	New tax incentives under “Plan Mexico”. Read more.
Tax legislation approved and regulatory update	Indirect tax	17 January 2025	Changes to sales tax on alcoholic beverages (various states), property tax increases in various municipalities (Nuevo León). Read more.
Tax legislation approved and regulatory update	Indirect tax	14 January 2025	Miscellaneous tax resolution for 2025 regarding payroll electronic invoices. Read more.
Tax legislation approved and regulatory update	Various tax topics	09 January 2025	Tax measures in miscellaneous fiscal resolution for 2025. Read more.
Tax legislation approved and regulatory update	Various tax topics	03 January 2025	Amendments to city tax code for 2025 (Mexico City). Read more.

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Panama

Panama
Tax legislation approved and regulatory update	Income tax	29 January 2025	New income tax return form for taxpayers in Colon Free Zone. Read more.

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Paraguay

Paraguay
Tax legislation approved and regulatory update	Indirect tax	14 January 2025	Expanded list of taxpayers required to issue electronic invoices. Read more.

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Venezuela

Venezuela
Tax legislation approved and regulatory update	Indirect tax	29 January 2025	Regulations regarding requirements for providers of computer systems used to issue invoices, other tax documents. Read more.

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Virgin Islands (British)

Virgin Islands (British)
Tax legislation approved and regulatory update	Tax compliance	02 January 2025	Updates to Common reporting standards compliance procedures for 2025. Read more.