Global updates – a quick glance
Australia:
- A mandatory Director Identification Number will be required for all directors from 2021 (date to come).
- The maximum salary ceiling for Superannuation contribution increased to AUD 57,090 from AUD 55,270 w.e.f. July 01, 2020
- Reduction in the corporate tax rate for small businesses has decreased to 26% from 27.5% for year 2020-21
Brazil: the company set-up process is significantly simplified and will take less set-up time.
India: An e-commerce operator will now be required to deduct tax at the rate of 1% of the gross amount of sales or services or both, for facilitating any sale of goods or providing services of an e-commerce participant .
Italy: Esterometro VAT filing to be done on quarterly basis (previously monthly) by resident VAT registered businesses w.e.f. January 1, 2020.
Mexico: Non-resident providers of digital services to withhold tax (VAT) on payments received for the provision of digital service w.e.f. June 1, 2020
Netherlands : Dutch Ultimate Beneficial Ownership (UBO) Register to enter into effect from September 27, 2020.
United Kingdom: Introduction of digital service tax at the rate of 2%, applicable to business with a turnover from digital activities above certain thresholds w.e.f. April 1, 2020.
| Country | GDPR Fines |
| Belgium | Belgium’s Data Protection Authority (APD) fined “Google” the largest ever fine of “EUR 600K” for violating GDPR’s ‘right to be forgotten’ and refusing to delete search results, known as dereferencing. |
| France | “Google” to pay fine of “EUR 50 Million” for GDPR Violations as their appeal got dismissed. |
| Germany | On June 30, 2020, in Germany, the data protection authority (‘LfDI Baden-Württemberg’) issued a decision to fine “Allgemeine Ortskrankenkasse Baden-Württemberg” of “EUR 1,240,000” for unlawful data processing in a direct marketing context and insufficient internal technical and organizational privacy measures. |
| Ireland | “Tusla” fined “EUR 75,000” for GDPR rule breach and “EUR 40,000” for data breach. |
| Italy | “Wind Tre S.p.A (WINDTRE)” fined approximately “EUR 16.7 million” for GDPR violation for illegal data processing related to company’s promotional activities . |
| “Telephone Operator Iliad” fined “EUR 800,000” for GDPR violations related to methods of access for employees to traffic data. | |
| “Merlini” fined “EUR 200,000” for GDPR violations as well as Data Protection Cod e. | |
| Spain | The Spanish Data Protection Authority fined “Iberdrola Clientes” “EUR 24,000” for GDPR violations of inadequate security measures in the processing of the personal data of the data subject. |
| The Spanish Data Protection Authority fined “Xfera Moviles” S.A. “EUR 75,000” for processing of the personal data without consent and a fine of “EUR 39,000” for unauthorized or unlawful processing of data. | |
| The Spanish Data Protection Authority fined “Equifax Iberica” “EUR 75,000” for not deleting the data of the complainant by refusing the ‘right to erase’ the data under GDPR. | |
| The Spanish Data Protection Authority fined “Glovoapp23” “EUR 25,000” for GDPR violation of not designating a data protection officer. | |
| The Spanish Data Protection Authority fined “Telefonica Moviles España, S.A.U.” “EUR 40,000” for insufficient legal basis for data processing under GDPR. | |
| The Spanish Data Protection Authority fined “Twitter” “EUR 30,000” for unlawful cookie banner. Twitter’s cookie banner stated that, by using Twitter’s services, the user would accept the cookie policy, and did not provide any further link within the banner to reject the use of cookies or redirect the user to a second layer of the cookie banner including management and configuration options. | |
| Sweden | The Swedish Data Protection Authority (Datainspektionen) has fined the Health and Medical Board of the Region of Örebro County for “SEK 120,000” for illegally publishing the sensitive personal data of a patient by violating the General Data Protection Regulation (Regulation (EU) 2016/679) (GDPR). |
| The Swedish Data Protection Authority (Datainspektionen) has imposed an administrative fine of “SEK20,000” on a co-operative housing association for failure to properly inform the residents regarding video surveillance, lack of information about the data controller, etc. |
Table of Contents
Australia
Directors to procure Director Identification Number as Director Identification regime set to launch in 2021
National Minimum Wage increased to AUD 753.80 or AUD 19.84 per hour (from AUD 740.80 per week or AUD 19.49 per hour) w.e.f. July 1, 2020
High income threshold for employee increased to AUD 153,600 from AUD 148,700 w.e.f. July 1, 2020
Parental Leave Pay increased to AUD 753.80 per week from AUD 740.60 per week w.e.f. July 1, 2020
Maximum salary ceiling for Superannuation contribution increased to AUD 57,090 from AUD 55,270 w.e.f. July 1, 2020
Corporate tax rate for small businesses reduced to 26% from 27.5% for year 2020-21
Brazil
Brazil simplifies Company registration process w.e.f. July 1, 2020
Canada
British Columbia (BC) amends Business Corporations Act to introduce “Benefit Company” as a new type of legal entity
Czech Republic
Money instead of meal vouchers
Hong Kong
Employment Support Scheme (ESS) to employers to retain employees
Amendments in Anti-discrimination and Harassment law
India
Extension of GST annual return for FY 2018-19 till September 30, 2020
Tax deducted at source (TDS) applicable on E-Commerce Transactions with effect from October 1, 2020
New Format of Form 26AS (Tax Credit Statement) introduced by the Income Tax Department w.e.f. June 1, 2020
Italy
The frequency of Esterometro filing changed from Monthly to Quarterly reporting w.e.f January 1, 2020
Japan
Social Security rates for Children Upbringing increased to 0.36%
Mexico
Non-resident providers of digital services to withhold tax (VAT) on payments received for the provision of digital service w.e.f. June 1, 2020
Netherlands
Dutch Ultimate Beneficial Ownership Register to enter into effect from September 27, 2020
Singapore
Proposed changes to Personal Data Protection Act
Sweden
Proposal of withholding tax on dividends
United Kingdom
UK introduces new UK Global Tariff (UKGT) on imports by replacing EU’s Common External Tariff (EU CET) from January 1, 2021
UK Parliament introduces Digital Services Tax (DST) at 2% rate for eligible businesses
Global Updates
Chile – VAT on digital services enters into force an>
EU – European Commission (EC) adopted a new Tax Package for fairness, efficiency and sustainability in EU Tax regime