Portugal: Tax Authority opens Pillar Two Form 64 filing service for 2024

  New rules broaden the scope of taxable Australian property, extend the principal asset test to 365 days, and introduce notification requirements for large disposals, while providing a transitional 50% CGT discount for eligible renewable energy assets. 

Kazakhstan’s Ministry of Industry and Construction proposed postponing the introduction of royalties on solid minerals from 2027 to 2029. The Project Office also considered a proposed PIT exemption for individuals whose problematic loan and microloan obligations were written off.

Italy’s Revenue Agency has confirmed that digital services tax taxpayers can file supplementary returns to correct previous declarations, with specific rules applying to excess payments, refunds and carry-forward credits.

The amendments introduce a tax credit of up to 20% of eligible emission-reduction investments for qualifying electricity producers, subject to state aid restrictions, while establishing a transitional tax return filing window for affected taxpayers.

Pakistan’s Federal Board of Revenue (FBR) had introduced tougher sales tax enforcement measures targeting digital non-compliance, fake and flying invoices, and unmatched input tax claims. The provisions had also established a public register for businesses issuing simulated invoices.

The Council of Ministers has approved a bill authorising a reduction in personal income tax rates for the first six brackets of taxable income, taking effect for earnings from 1 January 2026, marking the fifth such cut since April 2024.