Denmark: Parliament approves changes to Pillar Two minimum tax, Pillar One Amount B, related measures
The Parliament approved Bill L 194A on 3 June 2025. Denmark’s parliament has approved Bill L 194A, amending the Minimum Taxation Act, Corporate Tax Act, and other laws on 3 June 2025. Minimum Taxation Act and Corporate Tax Act The legislation facilitates the adoption of the OECD Pillar
Read MoreUS: IRS issues interim guidance on simplified option for CAMT calculation
The guidance offers a simplified method to determine "applicable corporation" status under IRC Sec. 59(k), increasing minimum thresholds and waiving some estimated tax penalties. The US Internal Revenue Service (IRS) issued Notice 2025-27,
Read MoreUS: Trump imposes 50% tariffs on steel and aluminium imports
The Trump Administration has increased tariffs on US imports of steel, aluminium, and derivatives from 25% to 50%, effective June 4, 2024. Tariffs on UK imports remain at 25%. The Trump Administration has doubled the tariffs on US imports of
Read MoreColombia updates withholding and self-withholding tax rates
Colombia updates income tax withholding rates and thresholds, effective 1 June 2025. Colombia’s National Government released Decree 0572 of 2025 on 28 May 2025, which updated the income tax self-withholding rates and revised minimum withholding
Read MoreGabon: Council of Ministers ratifies BEPS MLI and mutual assistance convention
Gabon approved the ratification of the Multilateral Convention to Prevent Base Erosion and Profit Shifting (MLI) on 30 May 2025. Gabon's Council of Ministers approved ratifying the Multilateral Convention to Prevent Base Erosion and Profit
Read MoreEgypt to replace capital gains tax with stamp tax on stock transactions
Egypt's Cabinet replaces the capital gains tax on securities with a stamp tax. Egypt’s Cabinet has decided to cancel the capital gains tax on securities listed on the country’s stock exchanges on 4 June 2025. Ministers have decided to
Read MorePhilippines enacts Capital Markets Efficiency Promotion Act (CMEPA)
Philippine President Ferdinand R. Marcos, Jr. has signed the Capital Markets Efficiency Promotion Act (CMEPA) into law on 30 May 2025, which goes into force on 1 July 2025. Philippine President Ferdinand R. Marcos, Jr., has signed the Capital
Read MoreLatvia approves draft law for partial DAC8 implementation
Latvia has approved a draft law to implement DAC8, introducing new reporting and due diligence rules for crypto-asset service providers. Most rules will take effect on 1 January 2026. Latvia’s government has approved a draft law to implement
Read MoreNew Zealand lowers interest rates on tax underpayments and overpayments
New Zealand Inland Revenue updated the UOMI Rates on 28 May 2025. Underpayment rates drop to 9.89% (from 10.88%), and overpayment rates decrease to 3.27% (from 4.30%). The New Zealand Inland Revenue has published the revised Taxation (Use of
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Colombia updates withholding and self-withholding tax rates
05 June, 2025
Colombia updates income tax withholding rates and thresholds, effective 1
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US: IRS issues interim guidance on simplified option for CAMT calculation
05 June, 2025
The guidance offers a simplified method to determine "applicable
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Egypt to replace capital gains tax with stamp tax on stock transactions
05 June, 2025
Egypt's Cabinet replaces the capital gains tax on securities with a stamp
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Denmark: Parliament approves changes to Pillar Two minimum tax, Pillar One Amount B, related measures
05 June, 2025
The Parliament approved Bill L 194A on 3 June 2025. Denmark’s
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Philippines enacts Capital Markets Efficiency Promotion Act (CMEPA)
05 June, 2025
Philippine President Ferdinand R. Marcos, Jr. has signed the Capital
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New Zealand lowers interest rates on tax underpayments and overpayments
05 June, 2025
New Zealand Inland Revenue updated the UOMI Rates on 28 May 2025.
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Chile confirms end date for Costa Rica’s preferential tax regime status
04 June, 2025
Chile’s tax Administration (SII) confirmed that Costa Rica is not
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Nigeria implements incentives to enhance cost efficiency in upstream petroleum operations
04 June, 2025
The President signed an incentives program to encourage cost efficiency in
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Latvia postpones mandatory B2B e-invoicing
04 June, 2025
Latvia delays mandatory B2B e-invoicing to 1 January 2027. Latvia's
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Germany extends obligation to correct tax returns on transfer pricing issues
04 June, 2025
Germany has updated the Tax Code with a new provision to promptly report
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Transfer Pricing
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Gabon: Council of Ministers ratifies BEPS MLI and mutual assistance convention
05 June, 2025
Gabon approved the ratification of the Multilateral Convention to Prevent Base Erosion and Profit Shifting (MLI) on 30 May 2025. Gabon's Council of Ministers approved ratifying the Multilateral Convention to Prevent Base Erosion and Profit Shifting (MLI) on 30 May
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Latvia approves draft law for partial DAC8 implementation
05 June, 2025
Latvia has approved a draft law to implement DAC8, introducing new reporting and due diligence rules for crypto-asset service providers. Most rules will take effect on 1 January 2026. Latvia’s government has approved a draft law to implement Council Directive (EU)
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Denmark: Parliament simplifies transfer pricing rules, lowers documentation requirements
04 June, 2025
The revised rules, which will apply from the 2025 income year, are expected to exempt at least 1,500 companies that submitted documentation for the 2022 fiscal year. Denmark’s Parliament has passed amendments to Sections 39 and 40 of the Danish Tax Control Act to simplify
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Argentina ratifies BEPS multilateral instrument (MLI)
03 June, 2025
Argentina's President ratified the Multilateral Convention to Prevent BEPS (MLI) on 28 May 2025. Argentina’s President has signed Decree No. 361/2025, ratifying Law No. 27.788 and the Multilateral Convention to Implement Tax Treaty Measures to Prevent BEPS (MLI), which was
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Germany deposits notifications for MLI entry into force with Czech Republic and Japan
02 June, 2025
Germany has confirmed completion of its internal procedures for the MLI, enabling its application to tax treaties with the Czech Republic and Japan from 1 January 2026. Germany has deposited its notifications confirming the completion of internal procedures for the
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Taiwan clarifies transfer pricing report rules for Tax Year 2024
02 June, 2025
Taiwan’s Ministry of Finance has outlined documentation requirements for 2024 controlled transactions, allowing certain enterprises to submit alternative evidence instead of a full transfer pricing report. Taiwan’s Ministry of Finance has released a notice on 23 May 2025
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France sets interest rate caps for shareholder loan deductions in Q2 2025
30 May, 2025
The French tax authority has updated the interest rates used to determine the deductibility of interest payments to shareholders for companies with fiscal years ending between 31 March 2025 and 29 June 2025. Interest payments that exceed these rates are generally not
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Algeria extends 2024 transfer pricing filing deadline
30 May, 2025
The deadline has been further extended to 5 June 2025. Algeria's Directorate General of Taxes announced on 28 May 2025 an extension of the 2024 transfer pricing declaration deadline for the 2024 financial year. Algeria’s tax authorities have previously extended the 2024
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Denmark adopts DAC8 crypto-asset reporting rules
29 May, 2025
Denmark enacted Act No. 409 of 29 April 2025, aligning with EU Directive 2023/2226 (DAC8) to introduce new reporting and due diligence requirements for crypto-asset service providers. Denmark has published Act No. 409 of 29 April 2025 in the Official Gazette, implementing
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Mexico reports higher tax revenue from transfer pricing audits during FY 2019-24
29 May, 2025
SAT announced results from its audit strategies, highlighting increased tax collection from large taxpayers for the periods 2013-2018 and 2019-2024. Mexico’s Tax Administration Service (SAT), in a press release dated 26 May 2025, highlighted the results of its audit
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Bangladesh to raise cigarette prices with higher taxes in budget for 2024-25 fiscal year
Cigarette prices are set to go up following an increase in supplementary duty and value-added tax (VAT) announced in Bangladesh’s national
Read MoreUS: Alabama opts out of federal R&D tax deduction rules, reduces grocery sales tax
Alabama Governor Kay Ivey signed the bill (HB 163) on 14 May 2025, which decoupled Alabama from the federal Tax Cuts and Jobs Act (TCJA) treatment of
Read MoreNamibia announces 2024/25 budget with new tax measures
On 28 February 2024, Namibia delivered the 2024/25 Budget. The key tax provisions in the budget statement include: Individual income tax The
Read MoreBangladesh: Interim Government announces 2025-26 national budget
The government’s growth forecast of 5.5% falls below the IMF’s estimate, signalling a shift away from chasing ambitious GDP targets and mega
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