India to impose safeguard duty on steel to curb imports from China, South Korea, Japan
India plans to introduce a temporary 12% safeguard duty on certain steel imports to address a rise in low-cost shipments; mainly from China, South Korea, and Japan; according to a government source. The measure, recommended by the Directorate
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US: VP Vance lands in India to negotiate trade deal amid Trump’s tariff tensions
US Vice President JD Vance arrived in New Delhi, India, on Monday, 21 April 2025, for a four-day visit. During the visit, Vance met Indian Prime Minister Narendra Modi, where the two leaders planned to build on the framework for stronger
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Korea (Rep.) extends fuel tax cuts until June, plans smaller reductions from May
South Korea's Ministry of Economy and Finance announced on 22 April 2025 that it will extend the fuel tax cut for an additional two months, with revised discount rates. The tax discount on gasoline will be reduced from 15% to 10%, while
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Italy, US call for non-discriminatory digital services tax
The Trump Administration has released the United States–Italy Joint Leaders Statement on 18 April 2025, marking the conclusion of the first official meeting between US President Donald Trump and Italy’s Prime Minister Giorgia Meloni. The
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Slovak Republic: President approves amendments to rental housing and VAT laws
The President of the Slovak Republic has signed the bill revising the Law on State Support for Rental Housing on 15 April 2025. This legislation also introduces amendments to the Value Added Tax (VAT) Law as it applies to rental housing within
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Romania approves tax agreement with UK
The Romanian government has approved the 2024 Romania–United Kingdom income tax treaty on 16 April 2025. The agreement will come into force once the ratification instruments have been exchanged. Upon becoming effective, it will supersede the
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Brazil approves protocol amending tax treaty with Chile
Brazil's Lower House (Chamber of Deputies) approved the protocol amending the 2001 Brazil–Chile income tax treaty on 16 April 2025. The protocol was signed on 3 March 2022 and adopted through Draft Legislative Decree No. 722/2024. A tax
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Bangladesh to seek duty-free access for exports to US
Bangladesh plans to ask the US for duty-free access for its key exports during meetings in Washington from 21-25 April 2025, held alongside the World Bank and IMF Spring gatherings. Although the US offers zero tariffs on many products, most
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Malta introduces new rules for easier EU information sharing
Malta issued Legal Notice 70 of 2025 on 8 April 2025 to transpose Directive (EU) 2023/977. These new regulations replace Council Framework Decision 2006/960/JHA and simplify the exchange of information between law enforcement authorities across EU
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UK: HMRC issues penalty guidelines for AEOI non-compliance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) issued guidance (CC/FS46) on 14 April 2025, detailing the penalties that financial institutions may face for failing to comply with Automatic Exchange of Information (AEOI)
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European Commission opens consultation on EU capital markets barriers
The European Commission has launched a targeted consultation to identify key barriers, including tax issues, that hinder the integration of capital markets across the EU. The consultation is part of the European Commission's Savings and Investments
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Canada: PM Carney promises tax cuts in election bid
Canadian Prime Minister Mark Carney has pledged tax cuts, infrastructure spending, and defence investments during an election campaign platform on Saturday, 20 April 2025. Carney highlighted that his government is working towards policies to
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China cautions countries signing trade deals favouring the US
China has cautioned nations on Monday, 21 April 2025, that are affected by US President Donald Trump’s “reciprocal tariffs” that it will strongly oppose any party attempting to strike trade deals with the US at its expense. The warning
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US: IRS to waive penalties for some micro-captive disclosures
The U.S. Internal Revenue Service (IRS) has released Notice 2025-24 on 11 April 2025, announcing that it will waive penalties for participants and material advisors of reportable micro-captive insurance transactions if disclosure statements are
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Slovak Republic: Parliament approves draft to amend financial transaction tax
The Slovak Republic Parliament has accepted a draft bill to amend the Financial Transaction Tax (FTT) Act on 15 April 2025. The latest amendment focuses on expanding exemptions for individuals and entities. The proposed amendments seek to exempt
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Algeria extends 2024 corporate income tax filing deadline
Algeria’s National Tax Administration (NTA) announced an extended deadline for corporate income tax (CIT) filing on 14 April 2025. The new deadline is set for 31 May 2025. However, since 31 May falls on a holiday, the revised deadline is set for 1
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Bolivia: Tax authority extends corporate income tax filing deadline
Bolivia’s tax authority issued Resolution No. 102500000015 on 16 April 2025, which extends the corporate income tax (IUE) filing deadline for tax years ending 31 December 2024. The new extended deadline is set for 30 May 2025. The extended
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Canada introduces relief for businesses hit by US tariffs
Canada’s Department of Finance has unveiled new support measures on 15 April 2025 aimed at assisting Canadian businesses impacted by tariffs imposed by both the US and Canada. The measures were announced by Minister of Finance, François-Philippe
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