OECD issues updated guidance on common Country-by-Country reporting errors
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 multinational enterprises
Read MoreSweden proposes DAC8 implementation bill for 2026
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
Read MoreMexico unveils tax incentives for new economic development zones
Mexico has introduced tax incentives for businesses operating in newly designated SEZs, including full deductions for fixed asset investments and additional relief for spending on training and innovation from 2025 to 2030. Mexico has issued a
Read MoreIreland: Revenue updates guidelines on interest charges for late tax payments
Irish Revenue has updated its guidelines on interest for late tax payments, now covering Capital Acquisitions Tax. The eBrief clarifies interest rules, removes mentions of Fixed Direct Debit and Balloon payments, and updates due dates for
Read MoreEU Commission unveils strategy to streamline single market
The European Commission released a communication on 21 May 2025 outlining a strategy to strengthen and simplify the EU Single Market. The document emphasises the Single Market as a cornerstone of the EU's growth, competitiveness, and resilience,
Read MoreUS: Trump postpones 50% tariff on EU goods
President Trump announced on 26 May 2025 that the effective date for his new 50% tariffs, in addition to the previously announced 20% tariffs on EU goods, has been pushed to 9 July 2025 after a call with European Commission President Ursula von der
Read MoreEU: European Parliament endorses revisions to EU carbon border mechanism
The European Parliament has approved changes to the EU's carbon border adjustment mechanism (CBAM), simplifying the rules and exempting 90% of importers. The European Parliament approved changes to the EU's carbon border adjustment mechanism
Read MoreAustralia: ATO revises functional currency guidelines
The ATO updated its Guide to Functional Currency Rules on 22 May 2025, detailing the rules, eligibility, and tax reporting impacts. The Australian Taxation Office (ATO) updated its Guide to functional currency rules on 22 May 2025, covering the
Read MorePapua New Guinea, UAE negotiates tax treaty, IPA
Papua New Guinea and UAE officials have started negotiations to advance bilateral ties, focusing on trade, investment, and technical cooperation. Papua New Guinea’s (PNG) Prime Minister Hon. James Marape met with the Special Envoy of the
Read MoreCorporate Tax
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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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US: House of Representatives approve ‘One, Big, Beautiful Bill’
23 May, 2025
The bill makes the 2017 Trump tax cuts permanent, provide tax relief for
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New Zealand announces 2025 budget, introduces tax incentive to boost investment
23 May, 2025
The budget, announced on 22 May 2025, includes a 20% “investment
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US: Texas introduces new tax incentives for businesses, seeks to ban transactions and occupation taxes
22 May, 2025
Texas Governor Greg Abbott signed three bills into law on 14 May 2025,
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Transfer Pricing
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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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Italy updates reportable and participating jurisdictions under CRS
12 May, 2025
Italy’s Ministry of Economy and Finance has issued a decree updating the list of jurisdictions considered reportable and participating under the Common Reporting Standard (CRS). The updated list, released in the Official Journal on 6 May 2025, includes Armenia, Moldova,
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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 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
Read MoreNamibia 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 MoreBangladesh to raise cigarette prices with higher taxes in budget for 2024-25 fiscal year
Cigarette prices are set to go up following an increase in supplementary duty and value-added tax (VAT) announced in Bangladesh’s national
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