US: Maine District Court upholds beneficial ownership reporting rule
The US District Court of Maine issued an order on 14 February 2025 on whether the beneficial ownership reporting rule under the Corporate Transparency Act (CTA) is constitutional. This case concerns the constitutionality of the Corporate
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Spain: Constitutional Court to review early corporate tax payment rules for large entities
Spain has published Notice 1 and Notice 2 in the Official Gazette, announcing that the Constitutional Court will review the constitutionality of Spain's advance corporate income tax payment requirements. The questions focus on the
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Malaysia grants tax exemptions on payments to/from Labuan firms
Malaysia has released the Income Tax (Exemption) Order 2025 in its Official Gazette on 13 February 2025. This order grants tax exemptions on specific payments made to or received from Labuan companies. A Labuan company is incorporated under the
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Turkey: Tax Authority updates inflation adjustment guidelines for 2025 provisional tax periods
Turkey's Revenue Administration published Tax Procedure General Communiqué No. 582 in the Official Gazette on 15 February 2025. This update sets new guidelines for taxpayers regarding inflation adjustments in provisional tax periods. According to
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Hungary: Economy minister seeks review of global minimum tax
Hungary's National Economy Minister, Márton Nagy, has called for a reassessment of the global minimum tax following the Trump administration's decision to withdraw the US from its commitment to the OECD Global Tax Deal, also known as the two-pillar
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Poland publishes list of qualified jurisdictions for Pillar Two rules
Poland’s Minister of Finance has issued a notice on 7 February 2025 listing jurisdictions that have adopted the qualified income inclusion rule (IIR), qualified for the domestic minimum top-up tax (QDMTT), or meet the criteria to be treated as
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Australia suspends commercial broadcasting tax for a year
Australia’s federal government has enacted the Commercial Broadcasting (Tax) Amendment (Transmitter Licence Tax Rebate) Rules 2025 on 13 February 2025, which suspends the Commercial Broadcasting Tax (CBT) for one year from 9 June 2025 to 8 June
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Andorra, UK sign tax treaty
The Government of Andorra announced the signing of a Double Taxation Agreement (DTA) with the UK on 20 February 2025. The agreement, formalised by Noëlia Souque, Andorra's Secretary of State for International Financial Affairs, aims to eliminate
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Timor-Leste approves income tax treaty negotiations with UAE
The Council of Ministers of Timor-Leste approved the negotiation of an income tax treaty with the UAE on 19 February 2025. A tax treaty is a bilateral agreement between two countries designed to address double taxation on both passive and
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Denmark introduces tax refunds for CO2 capture
Denmark’s minister of taxation has signed a new Executive Order No. 1504/2024 on 10 December 2024, offering tax refunds for CO2 capture and storage facilities. The order aims to simplify the refund process and promote carbon capture
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Colombia unveils new temporary taxes to address internal crisis
The Colombian National Government issued Decree 175, introducing three new taxes to raise over COP 1 trillion to address the crisis in Catatumbo and other areas affected by public order disturbances on 14 February 2025. A 19% VAT will be applied
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Saudi Arabia: ZATCA sets criteria for 20th e-invoicing integration phase
The Saudi Zakat, Tax, and Customs Authority (ZATCA) announced the criteria for selecting taxpayers in the 20th wave of the integration phase for the country's new E-Invoicing (FATOORA) requirements. The 20th wave targets all taxpayers whose
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Ireland updates guidance on automatic exchange of information
Irish Revenue has published eBrief No. 047/25 on 19 February 2025, updating its guidance on the Automatic Exchange of Information (AEOI). Exchange of Information (EOI) is the cross-border sharing of information between tax administrations to
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Switzerland expands automatic exchange of information to crypto assets
The Swiss Federal Council has submitted a proposal to Parliament to extend the international automatic exchange of information (AEOI) in tax matters. This extension, set to take effect on 1 January 2026, includes two key updates: the introduction
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Ireland updates global minimum tax guidance
The Irish Revenue has released eBrief No. 045/25 on 17 February 2025, introducing updates to Tax and Duty Manual Part 04A-01-02. These revisions focus on the Global Minimum Level of Taxation applicable to Multinational Enterprise Groups and domestic
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US may suspend tax treaty with China under America First Policy
The US President Donald Trump has signed a memorandum on the "America First Investment Policy" on 21 February 2025. The policy seeks to boost foreign investment in the US to create jobs and grow the economy, especially from allies, while
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Chile releases 9th edition of tax schemes catalogue
Chile's tax authority (SII) has released the ninth version of the Catalogue of Tax Schemes on 22 January 2025. The Catalogue aims to provide clarity to taxpayers on tax compliance for various issues and business models that may impact the Chilean
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US: Beneficial ownership reporting resumes with extended deadline
The US Treasury's Financial Crimes Enforcement Network (FinCEN) issued an alert on its BOI webpage with an update on beneficial ownership reporting requirements on 19 February 2025, announcing the reinstatement of BOI reporting requirements
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