Sri Lanka: 2025 budget pledges reforms largely aligned with conditions set out in IMF bailout

Israel’s Tax Authority (ITA) issued Circular No. 01/2025 on 11 February 2025, clarifying amendments to the Income Tax Ordinance. The amendments pertain to transfer pricing and country-by-country (CbC) reporting requirements. The key highlights include new CbC reporting

A World Bank blog published on 13 February 2025, written by Hania Kronfol, Eduardo Antonio and Jimenez Sandoval, assesses the use of corporate tax incentives to encourage environmentally friendly investment. The blog refers to a World Bank Prosperity Insight Note compiled using

Saudi Arabia’s Zakat, Tax and Customs Authority has released guidelines for its new advance pricing agreement (APA) regime. According to the guidance from the Zakat, Tax and Customs Authority, the program "will not process Bilateral and Multilateral APAs until further

Costa Rica's Directorate-General of Taxation has published a notice in the Official Gazette announcing a public consultation on a draft resolution on 13 February 2025. The resolution pertains to submitting the informative statement on transfer pricing by large taxpayers and

The European Commission (EC) announced the closure of the infringement procedure against Romania (INFR(2024)2048) on 12 February 2025 for failing to automatically exchange information under the 2021 amendment to the 2011 Directive on Administrative Cooperation (DAC7). The EC

The European Parliament has adopted its opinion on the proposal to amend the Directive on Administrative Cooperation (2011/16), known as DAC, on 12 February 2025. The proposal seeks to simplify filing and reduce the administrative burden for MNEs under the Minimum Taxation

The State Tax Service of Ukraine issued a notice on fines for specific transfer pricing reporting violations on 5 February 2025. The penalty for failing to submit a notification of participation in a multinational group of companies has been increased from 50 to 100

The Organization for Economic Cooperation and Development (OECD) has released an updated list of signatories to the Multilateral Competent Authority Agreement (MCAA) on the Exchange of Country-by-Country (CbC) Reports on 10 February 2025. The list includes signing dates,

Algeria’s Ministry of Finance has issued two key orders: the Order of 15 February 2024, outlining transfer pricing documentation requirements, and the Order of 25 February 2024, setting depreciation periods for fixed assets to calculate taxable income. 1. Order on transfer

Colombia’s Directorate of Taxes and Customs (DIAN) has introduced Resolution 199 of 2024 on 19 December 2024, mandating digital platform operators to submit information. Reports must be submitted electronically every year by the last business day of February each year, with