This is the first edition of our Tax Update for the Shipping & Offshore sector for 2021. This year we will again inform you about national and international developments, diverse court decisions, bills and practical experience that are topical and relevant for the sector.
We hope you had a great start to 2021. After wrapping up the first month of the year, in this edition of the Financial Services Tax Newsletter we would like to summarize the relevant developments that took place in December 2020 and January 2021.
Our global environmental, social and governance (ESG) commitments are now released under one umbrella in KPMG: Our Impact Plan. The plan clarifies our commitments and actions across four important categories: Planet, People, Prosperity and Governance.
On January 21, 2021 in a letter sent to the Lower House of Parliament the government announced that the current relief and recovery package for the economy and labor market would again be expanded.
We are excited to welcome you to this first edition of our NL-Africa Tax Desk newsletter. In 2020 African governments’ tax policies have been subject to a lot of changes impacted by the BEPS action points, the COVID-19 crisis and developments on the energy markets. Although the African continent is diverse, there are typical challenges in staying compliant with local tax obligations that MNEs and investors face when investing and developing business activities in Africa. Managing your business’ tax position in Africa is not a ‘one-off’ exercise and requires continuous monitoring of the latest tax developments. The aim of this newsletter is to give you an easy-to-read overview of these updates on the African tax landscape.
Our memorandum with flowchart provides an up-to-date explanation of how the adjustment affects the recovery of VAT on staff benefits, promotional gifts and other gifts. We also explain the effect of the VAT adjustment for the private use of company cars.
