Ukraine, Egypt show interest in updating tax agreement
Ukraine’s Minister of Agrarian Policy and Food, Vitalii Koval, held a meeting with Ahmed Kuchuk, Egypt’s Minister of Finance. This announcement was made by the Ministry of Agrarian Policy and Food of Ukraine on 3 February 2025. The
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Luxembourg: Council of State approves tax treaty ratification with Colombia
Luxembourg's Council of State has given its approval for the ratification of the income and capital tax treaty with Colombia on 4 February 2025. Earlier, Luxembourg’s Government Council approved the ratification of the income and capital tax
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Taiwan proposes extension of tax refund claim period under income tax treaties
Taiwan’s Ministry of Finance (MOF) has proposed a draft amendment to extend the tax refund application period under income tax treaties from five years to ten years. This change aims to streamline regulations and provide taxpayers with
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South Africa: SARS updates interest rate for taxation of low-interest loans
The South African Revenue Service (SARS) has announced a reduction in the official interest rate Table 3 for taxation on interest-free or low-interest loans, lowering it from 8.75% to 8.50%, effective 1 February, 2025. This change follows a
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Luxembourg issues new guidelines on interest rates for debit current accounts
The Luxembourg Administration of Direct Tax has released Circular L.I.R. no. 164/1 on 29 January 2025, detailing updated rules for determining interest rates on debit current accounts held by associates or shareholders of corporate taxpayers. The
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Germany updates tax treaties and agreements
The German Ministry of Finance has released an updated overview of its tax treaties and agreements as of 1 January 2025. The document outlines ongoing negotiations, newly initiated agreements, and amendments to existing treaties. Germany is
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Bosnia and Herzegovina implements new excise duty rates on tobacco products
As of 1 January 2025, Bosnia and Herzegovina will introduce revised excise duty rates on manufactured tobacco. The changes, proposed by the governing board of the Indirect Taxation Authority in December 2024, will affect both specific and ad
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Andorra considers signing tax treaty with Poland
Andorran and Polish officials convened on 3 February 2025, where Andorra expressed interest in negotiating an income tax treaty with Poland. This follows that Poland has announced the removal of Andorra from its list of non-cooperative tax
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Morocco approves pending tax treaty with Cape Verde
Morocco's House of Representatives has ratified the income tax treaty with Cape Verde on 3 February 2025. Signed on 9 May 2023, it is the first treaty between the two countries. The agreement is in line with the two countries' desire to develop
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Slovak Republic passes draft bill for DAC8 implementation
The Slovak Government has approved a draft bill to implement Council Directive (EU) 2023/2226 (DAC8), which introduces new reporting and due diligence rules for crypto-asset service providers. This follows after the Slovak Republic’s Ministry
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Ecuador adjusts withholding rates for large taxpayers’ self-withholding obligation
Ecuador's Internal Revenue Service (SRI) issued Resolution No. NAC-DGERCGC25-00000003 of 31 January 2025, updating withholding tax rates under monthly self-withholding obligation for large taxpayers. The self-withholding obligation is a credit
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EU Commission seeks feedback on DAC7 rules
The European Commission has initiated a feedback period from 4 February 2025 to 4 March 2025 on a draft regulation detailing the statistical data Member States must provide to evaluate the Amending Directive to the 2011 Directive on Administrative
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Chile clarifies CFC rules, updates preferential tax jurisdictions
Chile’s tax administration published Circular Letter 11/2025 on 30 January 2025, which introduced Law 21.713, regarding controlled foreign company (CFC) regulations, preferential tax regimes, and the indirect sale of assets in Chile. The Law
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Japan: MOF presents tax reform bill to parliament
Japan's Ministry of Finance has released the legislative proposals submitted during the 217th session of the National Diet (parliament) – which includes the draft tax reform bill for 2025 and related materials – on 4 February 2025. The key
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OECD releases new peer review on preferential tax regimes under BEPS Action 5
The OECD has released the latest peer review results on preferential tax regimes under BEPS Action 5 on 5 February 2025, including new conclusions on eight regimes from the December 2024 Forum on Harmful Tax Practices (FHTP) meeting. According to
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Armenia introduces tax incentives for the tech sector
Armenia’s National Assembly has passed legislation introducing support measures and tax incentives aimed at advancing programs in the high-tech sector on 4 December 2024. These laws were presented by Minister of High-Tech Industry Mkhitar
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China imposes retaliatory tariffs on select US imports
China’s Tariff Commission of the State Council has released the Announcement of CTC No.1 on 4 February 2025, announcing additional tariffs on certain US imports effective from 10 February 2025. China’s new tariffs on US imports include a 15%
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US Congress revives bill to end tax incentives for outsourcing
US Senator Sheldon Whitehouse (D-RI) and Congressman Lloyd Doggett (D-TX) reintroduced the No Tax Breaks for Outsourcing Act on 5 February 2025. First introduced in 2018, this legislation would end tax incentives created during the first Trump
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