Jamaica: Tax administration announces arrears settlement plan
Jamaica’s Tax Administration has announced the Special Arrears Settlement Programme on 29 January 2025, designed to waive/remit Interest, Penalty and Surcharge (IPS) accrued once outstanding principal taxes are paid by 31 March 2025. This
See More
Canada: Nova Scotia announces 2025-26 budget
Nova Scotia's Minister of Finance and Treasury Board, John Lohr, presented the province's fiscal budget for 2025-26 on 18 February 2025. The government’s Capital Plan 2025-26 will invest more than CAD 2.35 billion in healthcare facilities,
See More
US: Trump Administration restarts probes into foreign digital service taxes
The US President Donald Trump has signed a memorandum titled "Defending American Companies and Innovators From Overseas Extortion and Unfair Fines and Penalties” on 21 February 2025. The memorandum includes renewing Section 301 investigations
See More
Ghana publishes review of VAT system
Ghana's Ministry of Finance has published a "A Review of Ghana's Value-Added Tax (VAT) System" on 11 February 2025. This report, jointly produced with researchers from the Institute for Fiscal Studies (UK) analyses the design and administration
See More
UAE consults on implementing e-invoicing
The UAE Ministry of Finance has released a consultation document outlining plans to implement electronic invoicing (e-invoicing). The consultation seeks to: Establish a common understanding of data elements used in e-invoices across business
See More
Saudi Arabia extends deadline for new zakat rules
Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) has extended the deadline for Zakat payers to apply new regulations for fiscal periods starting before 1 January 2024 to 30 April 2025. The extension was issued in Ministerial Resolution
See More
Italy: Google settles tax dispute for EUR 326 million, Amazon faces EUR 3 billion VAT evasion penalty
Google has settled a tax dispute with Italy’s tax authorities by paying EUR 326 million for alleged unpaid taxes from 2015 to 2019. The payment includes sanctions, penalties, and interest. Italian prosecutors had investigated Google for not
See More
Nigeria suspends 4% Free On-Board value charge on imports
Nigeria's Federal Ministry of Information and National Orientation, in a release, from the Nigeria Customs Service on 11 February 2025, announced the suspension of the 4% charge on the Free On-Board (FOB) value of imported goods. The charge had
See More
Kenya introduces new income tax exemption rules for charities
The Kenya Revenue Authority has published a notice on 13 February 2025 regarding the implementation of the Income Tax (Charitable Organisations and Donations Exemption) Rules, 2024. These rules, which came into force on 18 June 2024, outlines the
See More
Cyprus issues 10-year bond yields for notional interest deduction
The Cyprus Tax Department announced, on 14 February 2025, the issuance of the 10-year government bond yield rates as of 31 December 2024 for various countries related to the Notional Interest Deduction (NID) on equity. These rates will determine
See More
Brazil extends commodity transaction registration deadline
Brazil has extended the deadline for commodity transaction registration deadline, issued in Normative Instruction No. 2.249 of 6 February 2025 which outlines amendments to Normative Instruction RFB No. 2.161 of 28 September 2023 regarding transfer
See More
Singapore: PM presents 2025 budget, CIT rebate and investment incentives amongst new tax measures
Singapore’s Prime Minister and Finance Minister, Lawrence Wong, presented the 2025 budget on 18 February 2025 outlining various tax changes which include corporate income tax (CIT) rebate and incentives to drive investments. The key tax
See More
Netherlands: MoF opens class action over corporate income tax interest
The Netherlands Deputy Minister of Finance has designated four categories of objections on 7 February 2025 as a class action regarding interest charges on overdue taxes. This follows after the tax authorities received about 6,000 objections to
See More
Poland: Senate passes various VAT changes
Poland’s Senate has approved several VAT amendments, including extending the reverse charge mechanism for gas, electricity, and greenhouse gas services and maintaining an 8% reduced VAT rate for certain agricultural goods. Additional VAT
See More
Panama revises tax compliance deadlines and rules
Panama’s Ministry of Economy and Finance and tax authorities have recently announced tax developments, which include new regulatory obligations for resident agents and legal entities and deadline extensions for compliance requirements. Updated
See More
Netherlands: Inframarginal electricity levy tax due by April 2025
The Dutch Tax and Customs Administration has announced it set the deadline for sending the tax return and payment of the inframarginal electricity levy (IME). The deadline is 1 April 2025. The inframarginal electricity levy (IME) is temporary
See More
EU: Council reviews list of non-cooperative tax jurisdictions
The European Economic and Financial Affairs Council, in a meeting on 18 February 2025, confirmed the EU list of non-cooperative jurisdictions for tax purposes without changes. During the meeting, the Council reviewed the EU list of
See More
EU Council approves new electronic VAT exemption certificate law
The European Commission, in a release on 18 February 2025, announced the Council had adopted a new legislative package introducing an electronic certificate for VAT exemptions, marking a significant step towards simplifying tax procedures and
See More