US: Washington adopts major business and occupation tax reforms
The law introduces significant changes to the B&O tax and extends the retail sales tax to computer-related services. Washington Governor Bob Ferguson signed two bills, Bill HB 2021 and Bill SB 5814, into law on 20 May 2025, introducing major tax reforms which include changes to the Business
Read MoreIndia: CBDT extends income tax return deadline for AY 2025–26
It has been extended from 31 July to 15 September, 2025. The Indian Central Board of Direct Taxes (CBDT) announced an extended deadline for filing income tax returns for the Assessment Year 2025–26 on 27 May 2025. It has been extended from 31
Read MoreRussia: Government proposes extension of 0% VAT rate for hotels, temporary lodging services
The proposed extension will continue the rate until 31 December 2030. The Russian Government announced plans to extend the 0% VAT rate on temporary accommodation services in hotels and other lodging facilities on 22 May 2025. The proposed
Read MoreSpain considers legislation to improve access to housing
This legislation urges the government to advance initiatives addressing housing challenges, ensure legal certainty, mobilise vacant homes, make housing more affordable, expand public housing, and increase social and affordable rental
Read MoreHong Kong, Maldives sign income tax treaty
The agreement will take effect after the exchange of their ratification instruments. Hong Kong and the Maldives signed an income tax treaty on 26 May 2025. The agreement aims to eliminate double taxation on income taxes and prevent tax evasion
Read MoreIran ratifies income tax treaty with Finland
Iran’s President signed the law ratifying the income tax treaty on 24 May 2025. Iran’s President Masoud Pezeshkian has signed the law to ratify the income tax treaty with Finland on 24 May 2025. Signed on 7 February 2022, this is the
Read MoreOECD reports Asia’s tax transparency gains
The report highlights efforts to implement global tax transparency standards across Asia, combat illicit financial flows, and boost domestic resource mobilisation through the Asia Initiative. The OECD’s Global Forum on Transparency and Exchange
Read MoreUAE: MoF temporarily eases listing requirement for REIT exemption
The Decision outlines conditions for certain Real Estate Investment Trusts (REITs) to qualify for corporate tax exemption. The UAE Ministry of Finance has issued Ministerial Decision No. 96 of 2025 on Conditions to Exempt Certain Real Estate
Read MoreKyrgyzstan ratifies amending protocol to tax treaty with Korea (Rep.)
Kyrgyzstan ratified the protocol on 22 May 2025 Sadyr Japarov, Kyrgyzstan’s President, signed the law for the ratification of the amending protocol to the 2012 income and capital tax treaty with Korea (Rep of.) on 22 May 2025. It will take
Read MoreCorporate Tax
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India: CBDT extends income tax return deadline for AY 2025–26
29 May, 2025
It has been extended from 31 July to 15 September, 2025. The Indian
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UAE: MoF temporarily eases listing requirement for REIT exemption
28 May, 2025
The Decision outlines conditions for certain Real Estate Investment Trusts
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US: Washington adopts major business and occupation tax reforms
28 May, 2025
The law introduces significant changes to the B&O tax and extends the
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Ireland: Revenue updates guidelines on interest charges for late tax payments
27 May, 2025
Irish Revenue has updated its guidelines on interest for late tax
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Mexico unveils tax incentives for new economic development zones
27 May, 2025
Mexico has introduced tax incentives for businesses operating in newly
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Australia: ATO revises functional currency guidelines
27 May, 2025
The ATO updated its Guide to Functional Currency Rules on 22 May 2025,
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Pakistan to offer incentives for US mining investors in tariff negotiations
26 May, 2025
Pakistan plans mining incentives for US firms, including Balochistan joint
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UAE: Cabinet approves corporate tax exemption for foreign-owned businesses
23 May, 2025
The Decision expands corporate tax exemption to cover certain foreign
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Netherlands: Tax Administration clarifies domestic withholding exemption may apply to outbound dividends despite treaty ineligibility
23 May, 2025
The Tax Administration has clarified its position on whether dividends can
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Poland: MoF lowers late payment interest rates
23 May, 2025
Ministry of Finance updated interest rates for tax arrears and late
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Transfer Pricing
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Denmark: Supreme Court rules arm’s length pricing need not align with interquartile range
28 May, 2025
The case examined EET Group's taxable income from 2010 to 2012, focusing on revenue from goods sold to seven sales subsidiaries. Denmark’s Supreme Court issued a ruling on the arm's length pricing of transactions between the Danish EET Group and its sales companies in
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Sweden proposes DAC8 implementation bill for 2026
27 May, 2025
Sweden has proposed a bill to implement the EU's DAC8 directive on tax cooperation, introducing new rules for the automatic exchange of information on crypto-assets and securities. The regulations will take effect on 1 January 2026. The Swedish Government presented a bill to
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OECD issues updated guidance on common Country-by-Country reporting errors
27 May, 2025
The OECD released an updated document on common errors by multinational enterprises (MNEs) in preparing Country-by-Country (CbC) reports on 22 May 2025. The Organisation for Economic Co-operation and Development (OECD) released an updated document on common errors by
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US tariffs are reshaping transfer pricing strategies for multinationals
26 May, 2025
The Trump Administration’s latest tariffs are reshaping global trade policies and pushing multinational corporations (MNCs) to revise their transfer pricing policies. US President Donald Trump’s latest tariffs, including a 104% levy on Chinese electric vehicles and a 10%
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Australia: Administrative Review Tribunal rules in favour of Alcoa against ATO in key transfer pricing ruling
26 May, 2025
This case focused on a major transfer pricing issue, where ATO claimed Alcoa underpriced its alumina sales to Aluminium Bahrain B.S.C. (Alba) from 1993 to 2009, causing a tax shortfall of over AUD 213 million. Australia’s Administrative Review Tribunal ruled in favour of
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UK proposes tighter transfer pricing rules, replacing diverted profits tax with new UTPP
23 May, 2025
The UK government will tighten transfer pricing rules and replace the diverted profits tax with a new corporation tax charge. The government has announced plans to revise the UK's international tax framework, which involves narrowing the application of transfer pricing rules
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EU: Council adopts VAT and tax recovery stance in UK trade deal
23 May, 2025
The Decision replaces Annex I to Decision 4/2023, which outlines standard forms for sharing information and data, exchanging information by using the Common Communication Network, and arranging contact between central liaison offices and liaison departments. The Council of
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OECD publishes new transfer pricing profiles for Azerbaijan and Pakistan, updates 11 others
23 May, 2025
The OECD has published updated transfer pricing country profiles for 11 jurisdictions. RegFollower Desk The Organisation for Economic Co-operation and Development (OECD) has released new transfer pricing country profiles for Azerbaijan and Pakistan. Updated profiles are
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Poland: Council of Ministers approve bill to ease group taxation, transfer pricing rules
22 May, 2025
Poland's Council of Ministers approved a proposal to simplify group taxation and transfer pricing regulations on 21 May 2025. Poland’s Council of Ministers approved a proposal on 21 May 2025 to streamline the country’s group taxation and transfer pricing
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Finland updates CRS participating jurisdictions list
20 May, 2025
The Finnish Tax Administration has published an updated list of participating jurisdictions for exchanging financial account information under the Common Reporting Standard (CRS) on 15 May 2025. The Common Reporting Standard (CRS), developed in response to the G20 request and
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Most Read
US: Alabama opts out of federal R&D tax deduction rules, reduces grocery sales tax
Alabama Governor Kay Ivey signed the bill (HB 163) on 14 May 2025, which decoupled Alabama from the federal Tax Cuts and Jobs Act (TCJA) treatment of
Read MoreNew Zealand announces 2025 budget, introduces tax incentive to boost investment
The budget, announced on 22 May 2025, includes a 20% “investment boost” tax deduction for business assets and changes to KiwiSaver. New
Read MoreBelarus publishes guidance on 2025 tax regulations
The Belarus Ministry of Taxes and Duties released detailed guidance on the upcoming tax reforms for 2025. The key changes include the following: New
Read MorePakistan unveils $68 billion FY 2024-25 budget
Pakistan’s Finance Minister Muhammad Aurangzeb presented the 2024-25 federal budget of PKR 18.87 trillion (USD 68 billion) in the National Assembly
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