US: Trump exempts automakers from Mexican, Canadian tariffs for a month
According to the White House, on 5 March 2025, US President Donald Trump has decided to exempt automakers from his 25% tariffs on Canada and Mexico for one month if they follow existing free trade rules. Following discussions with the three
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China retaliates with new tariffs, export restrictions, import ban on select US products
China's Ministry of Finance has released Tax Commission Announcement No. 2 of 2025 on 4 March detailing the implementation of additional tariffs on select US products. The additional measures include a 15% tariff on US imports of chicken, wheat,
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US: IRS sets 2025 housing cost amounts exclusion limits
The US Internal Revenue Service (IRS) has issued Notice 2025-16, outlining the housing expense limits under section 911 of the Internal Revenue Code for 2025. This notice provides adjustments to the limitation on housing expenses for purposes of
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Dominican Republic repeals digital services tax on foreign platforms
President of the Dominican Republic Luis Abinader issued Decree 30-25, which was published in Official Gazette No. 11186 on 25 January 2025. The decree required foreign digital platforms operating in the Dominican Republic to register with the
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Ecuador cuts VAT on tourism services for carnival holiday
Ecuadorian President Daniel Noboa has enacted Executive Decree No. 542 on 24 February 2025, temporarily lowering the Value Added Tax (VAT) rate to 8% for tourism-related services during the Carnival holiday period from 1 March to 4 March
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Brazil: Federal Revenue launches pilot program Receita Sintonia to encourage tax compliance
The Brazilian Federal Revenue Service (RFB) published Ordinance RFB No. 511/2025 on Monday, establishing the pilot phase of the Receita Sintonia Programme. The initiative aims to encourage companies to comply with tax and customs obligations by
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France postpones cut in VAT exemption threshold until June 2025
The French Ministry of Economy and Finance has announced that from 1 June 2025, a standard VAT exemption threshold of EUR 25,000 in turnover will apply to all businesses, replacing the current EUR 27,500 threshold. Sector-specific thresholds for
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OECD releases new BEPS Action 14 MAP peer review results
The OECD releases the latest BEPS Action 14 Mutual Agreement Procedure (MAP) peer review results, highlighting continued progress in making dispute resolution more effective, under the BEPS package, pursuant to which jurisdictions have committed to
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New Zealand updates list of reportable jurisdictions for CRS
The Inland Revenue of New Zealand issued Order in Council No. 2025/15 on 27 February 2025, updating the list of reportable jurisdictions for the automatic exchange of financial account information under the CRS MCAA. The Common Reporting Standard
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Ireland introduces angel investor tax relief to boost start-ups
Irish Finance Minister Paschal Donohoe has announced the launch of Angel Investor Relief, a new tax incentive aimed at driving investment in Ireland’s innovative start-ups on 3 March 2025. The relief offers a reduced Capital Gains Tax (CGT) rate
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Costa Rica seeks public input on tobacco products taxation proposal
The Costa Rican Tax Administration (DGT ) has published a draft resolution for public consultation to amend Resolution DGT-R-006-2012, which governs the taxation of tobacco products. The draft resolution was published on 26 February 2025. This
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Costa Rica opens consultation on vape products tax refund
The Costa Rican Tax Administration (DGT) has released a draft resolution for public consultation on changes to Resolution DGT-R-05-2022, which governs the tax return for the specific tax established by Law 10066 on vape products. The draft
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Argentina: Withholding tax and VAT exemptions on imports ends on March 2025
Argentine tax authority (ARCA) has issued General Resolution (RG) 5655/2025 on 28 February 2025. Advance income tax (6%) and VAT (up to 20%) are usually collected on imported goods, though taxpayers can apply for an exclusion certificate to avoid
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Serbia adopts rulebook on arm’s length interest rates for 2025
Serbia’s Ministry of Finance has issued the Rulebook on arm’s length interest rates for 2025, which was published in the Official Gazette of Serbia No. 17/2025 on 28 February 2025. The rulebook establishes specific interest rates for both
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US raises tariffs on Chinese goods
US President Donald Trump signed an Executive Order on 3 March 2025, increasing tariffs on Chinese products from 10% to 20%. The order amends previous actions targeting the synthetic opioid supply chain and cites China's insufficient efforts to curb
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US: Treasury suspends Corporate Transparency Act enforcement against citizens, domestic reporting companies
The US Department of the Treasury announced, on 2 March 2025, with respect to the Corporate Transparency Act, that it will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing
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Canada retaliates with 25% tariffs on US products
In a retaliatory move, Canada’s Prime Minister Justin Trudeau, in a statement and a post on X, announced that Canada will implement 25% tariffs on CAD 155 billion of American products. This follows after US President Donald Trump’s new 25%
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Oman ratifies income tax treaty with Tanzania
Oman has ratified the income tax treaty with Tanzania on 3 March 2025, through Royal Decree No. 25/2025. Earlier, Oman and Tanzania signed a tax treaty in Muscat on 15 December 2024. The agreement was signed by HE Nasser bin Khamis Al Jashmi,
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