Slovenia gazettes MDR MCAA in English and Slovenian
Slovenia has ratified the Multilateral Competent Authority Agreement on the Automatic Exchange Regarding CRS Avoidance Arrangements and Opaque Offshore Structures (MDR MCAA) on 13 February 2025. Signed on 9 November 2022, as published in Official
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Argentina, Czech Republic begin first round of tax treaty talks
Argentina and the Czech Republic will meet from 11-14 March 2025 to initiate negotiations for their first-ever income tax treaty. This agreement seeks to eliminate double taxation on income and capital between the two countries while combating
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OECD releases 2025 Global Forum Capacity Building Report, highlights record-breaking 2024 outreach activities in 2024
The Organisation for Economic Co-operation and Development (OECD) released the 2025 Global Forum Capacity Building Report on 6 March 2025. This report highlights the record-breaking capacity-building and outreach activities carried out by the
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Italy: Finance department clarifies general anti-avoidance rule
Italy’s finance department has issued guidelines on applying the general anti-avoidance rule (GAAR) under article 10-bis of Law No. 212 of 27 July 2000 on 27 February 2025. The document outlines the abuse of law doctrine and examines the key
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US: IRS announces unchanged interest rates for Q2 2025
The US Internal Revenue Service (IRS), announced – on 6 March 2025 – that the interest rates will remain the same for the calendar quarter beginning 1 April 2025. For individuals, the rate for overpayments and underpayments will be 7% per
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US: Trump halts tariffs on USMCA products
US President Donald Trump signed executive orders halting the recently imposed tariffs on imports from Canada and Mexico covered under the United States-Mexico-Canada Agreement (USMCA) yesterday, on 6 March 2025. The USMCA allows goods to move
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Turkey issues guide on taxation of capital gains and occasional income
The Turkish Ministry of Treasury and Finance has published a "Guide to Taxation of Other Income and Earnings," outlining the taxation of various income types, such as capital gains and occasional earnings, under the Individual Income Tax Law
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Bahrain ratifies income tax treaty with Hong Kong
Bahrain ratified the Bahrain-Hong Kong income tax agreement (2024) through Law No. 7/2025, as published in Official Gazette No. 3798 on 27 February 2025. The law came into force on 28 February 2025. Earlier, Bahrain’s Council of
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Slovenia ratifies multilateral exchange agreement on CRS avoidance and opaque offshore structures
Slovenia has published the regulation for the ratification of the Multilateral Exchange Agreement on CRS avoidance arrangements and opaque offshore structures in the official Gazette on 28 February 2025. The agreement will facilitate the annual
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Argentina cuts late tax payment interest rates
Argentina has reduced late tax payment interest rates and fixed them from 1 March 2025. The compensatory interest rate drops to 4.0% per month (from 7.26%) and the punitive rate to 5.0% per month (from 8.38%). Tax refunds will accrue interest at
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Greece launches public consultation on capital market strengthening bill
The Greece Ministry of National Economy and Finance has opened a public consultation on a Bill titled "Strengthening the capital market" on Thursday, 27 February 2025 , which proposes new tax incentives aimed at supporting small and medium
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Kenya: KRA urges taxpayers to benefit from tax amnest
The Kenya Revenue Authority announced on 3 March 2025 the success of the tax amnesty program for debts accrued up to 31 December 2023 and urges taxpayers to take advantage before the 30 June 2025 deadline. The KRA is offering taxpayers an
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Australia: Non-compliant small businesses must file monthly GST report
The Australian Taxation Office (ATO) has announced that small businesses failing to comply with regulations will be required to transition from quarterly to monthly goods and services tax (GST) reporting. The Australian Taxation Office (ATO) said
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US: Chamber of Commerce urges US Trade Representative to boost digital trade leadership
The US Chamber of Commerce published a letter on 3 March 2025 urging US Trade Representative Jamieson Greer to prioritise digital trade rules and strengthen US leadership in global markets. This includes acting against foreign countries imposing
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Hong Kong announces Inland Revenue (Amendment) (Tax Concessions) Bill 2025
The Hong Kong Inland Revenue Department has announced the Inland Revenue (Amendment) (Tax Concessions) Bill 2025, introducing a one-off reduction of profits tax, salaries tax, and personal assessment tax for the 2024/25 assessment year, as proposed
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Australia: ATO drafting guidance on Pillar Two lodgment obligations and transition
The Australian Taxation Office (ATO) has updated its advice and guidance plans on international issues, including the Pillar Two global minimum tax. This covers Pillar Two lodgment obligations, the ATO's transitional approach, and updated advice on
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Finland drops plan to raise VAT on chocolates and candies
Finland's Ministry of Finance has announced that it will not move forward with the planned increase in the VAT rate on chocolates and candies from 14% to 25.5% on 1 June 2025. In addition, the Ministry is preparing a legislative amendment to
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US to impose reciprocal tariffs on India and other countries
The US will implement reciprocal tariffs on imports from countries imposing high tariffs on US goods, including India starting 2 April 2025. President Donald Trump announced this measure during a joint session of Congress, criticising India's 100%
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