Ireland publishes Finance Bill 2024: Implements taxation changes announced on Budget Day
Ireland's Minister for Finance, Jack Chambers TD, has published the Finance Bill 2024 and Explanatory Memorandum following the Government's approval earlier in the week. The Bill enacts key measures from Budget 2025, alongside a series of administrative and technical amendments to tax
Read MoreMalaysia likely to introduce subsidy cuts, new taxes in 2025 budget
Malaysia’s Prime Minister Anwar Ibrahim will announce the 2025 budget in parliament on Friday, 18 October 2024. Analysts and economists suggest the government is likely to implement additional new taxes and reduce subsidies for its 2025 budget,
Read MoreUK: Starmer rejects claims of 39% capital gains tax hike
British Prime Minister Keir Starmer has rejected claims that capital gains tax could rise to 39% in this month’s budget, calling the speculation "wide of the mark," in an interview with Bloomberg Television at an investment summit in
Read MoreParaguay, Spain income tax treaty enters into force
The income tax treaty between Paraguay and Spain took effect on 14 October 2024. This agreement aims to enhance economic relations, encourage investments, and enhance bilateral cooperation in tax matters between the two countries. It seeks to
Read MoreAlgeria joins mutual assistance convention to combat tax evasion
Amel Abdellatif, Tax Commissioner of Algeria signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention), as amended by the 2010 protocol, on 10 October 2024. The Convention must first be ratified
Read MoreAzerbaijan joins CIS tax reform and digital innovation talks
Azerbaijan attended a high-profile Coordination Council meeting in Bishkek, Kyrgyzstan, on 7 October 2024. The meeting comprised high-ranking tax officials from the Commonwealth of Independent States (CIS) Armenia, Belarus, Russia, Tajikistan,
Read MoreRomania approves protocol to tax treaty with Malta
Romania’s government approved the amending protocol to the 1995 income tax treaty with Malta on 9 October 2024. Earlier, the two nations signed an amendment protocol to the original income tax treaty on 4 July 42024. The protocol aligns the
Read MoreAustralia: ATO consults new restructuring, thin capitalisation, debt deduction creation rules
The Australian Taxation Office (ATO) launched a public consultation on Practical Compliance Guideline (PCG) 2024/D3 - Restructures and the new thin capitalisation and debt deduction creation rules on 9 October 2024. The ATO has published the
Read MoreUS: IRS finalises rules for repatriating intangible property under Section 367(d)
The US Internal Revenue Service (IRS) and Treasury published the final regulations - Section 367(d) Rules for Certain Repatriations of Intangible Property in the Federal Register on 10 October 2024, which contains final additions and amendments to
Read MoreCorporate Tax
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Taiwan publishes guidance on deductible interest rates for low or no interest loan
15 October, 2024
Taiwan’s National Taxation Bureau of the Northern Area (NTBNA), under
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Australia: ATO consults new restructuring, thin capitalisation, debt deduction creation rules
15 October, 2024
The Australian Taxation Office (ATO) launched a public consultation on
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Taiwan clarifies withholding tax rules
14 October, 2024
Taiwan's Ministry of Finance has released a notice detailing the revised
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UAE extends corporate tax filing deadline
14 October, 2024
The UAE Federal Tax Authority (FTA) has extended the deadline for filing
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Turkey clarifies application of new anti-avoidance rule
14 October, 2024
The Turkish Revenue Administration has issued Income Tax General
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France sets new interest rates for shareholder interest deductibility
14 October, 2024
France has published interest rates for entities whose financial year (FY)
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Australia consults expansion of penalty laws for tax exploitation scheme promoters
14 October, 2024
Australia’s government is requesting feedback on proposals to expand the
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Malaysia consults on tax treatment of local ships
14 October, 2024
The Inland Revenue Board of Malaysia (IRBM) initiated a public
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Brazil consults adaptation of Qualified Domestic Minimum Top-Up Tax
14 October, 2024
Brazil’s Federal Revenue Service has initiated a public consultation
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Poland approves cash accounting scheme for eligible entrepreneurs
14 October, 2024
Poland’s parliament approved a new "Cash PIT" regime aimed at individual
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Transfer Pricing
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Cyprus revises transfer pricing FAQs
14 October, 2024
The Cyprus Tax Department announced that it updated its Frequently Asked Questions (FAQs) (English version) on transfer pricing on 24 September 2024. New questions are added from 25 through 43. The main question is 25, which highlights that companies do not need to consider
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Chile: Parliament passes tax compliance bill
10 October, 2024
Chile’s Chamber of Deputies have passed the Tax Compliance Bill (Proyecto de Ley de Cumplimiento de las Obligaciones Tributarias). Earlier, Chile’s Senate approved the Tax Compliance Bill on 24 September 2024 which included key changes to general anti-avoidance rules
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Argentina gets first financial data exchange from the US
10 October, 2024
Argentina’s federal tax authority (AFIP) announced that it received its first exchange of financial account information from the US on 2 October 2024. Similarly, Argentina has issued a statement stating that it sent financial information regarding US citizens who hold
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US: Treasury releases list of boycott countries
10 October, 2024
The US Treasury published a notice in the Federal Register regarding the current list of countries that may necessitate participation in or cooperation with an international boycott on 1 October 2024. The countries identified include Iraq, Lebanon, Syria, Kuwait, Qatar, Saudi
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European Commission releases revised list of non-cooperative tax jurisdictions, removes Antigua and Barbuda
10 October, 2024
The European Commission (EC) announced that European Union (EU) member states have updated the list of non-cooperative tax jurisdictions. The update confirmed that Antigua and Barbuda have been removed from Annex I (the blacklist), while Armenia and Malaysia have been removed
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Ukraine clarifies corporate tax rules for German entities under transfer pricing provisions
09 October, 2024
The Ministry of Finance of Ukraine has issued a clarification concerning the corporate taxes of the Federal Republic of Germany and their relevance to Ukrainian tax law, particularly in the context of transfer pricing regulations on 30 September 2024. This clarification stems
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Italy clarifies DAC7 platform and seller definitions
09 October, 2024
Italy’s tax authorities issued Law Principle No. 3/2024, on 3 October 2024, clarifying the definitions of "platform" and "seller" to enforce the data reporting obligations for qualifying platform operators, as established by Legislative Decree No. 32/2023. This decree
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Slovak Republic: Parliament rejects plan to shorten property capital gains tax exemption to three years
09 October, 2024
The Slovak Republic parliament rejected a draft bill that proposed income tax exemptions on capital gains from the sale of immovable property for individuals and a suggestion to reduce the minimum holding period to three years. Earlier, on 16 August 2024, the Slovak
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Slovak Republic: New bill redefines virtual currencies
09 October, 2024
The Slovak Republic has enacted a bill to align the Slovak legislation as per the Markets in Crypto-Assets (MiCA) Regulation (2023/1114). The bill pertains to certain obligations and authorisations in the field of crypto active and amending certain laws. This Act governs
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European Commission ends infringement case against Germany, Hungary over DAC7 information exchange
07 October, 2024
The European Commission has announced the conclusion of the infringement procedure against Germany and Hungary for their failure to comply with the obligation to automatically exchange information as mandated by the Amending Directive to the 2011 Directive on Administrative
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Most Read
Namibia announces 2024/25 budget with new tax measures
On 28 February 2024, Namibia delivered the 2024/25 Budget. The key tax provisions in the budget statement include: Individual income tax The
Read MoreIreland releases pre-filing notification forms for R&D corporation tax credit
Irish Revenue has published eBrief No. 239/24, announcing the release of pre-filing notification forms for the R&D Corporation Tax Credit on 13
Read MoreColombia increases UVT value for 2024
On 28 November 2023, the Colombian tax authority (Dirección de Impuestos y Aduanas Nacionales-DIAN) issued Resolution No. 000187 of 28 November
Read MoreTaiwan: MOF clarifies application of tax treaties
Taiwan’s Ministry of Finance (MOF) has published a statement clarifying the application of the country’s tax treaties on 26 September
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