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 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

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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 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,

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US: Trump imposes 50% tariffs on steel and aluminium imports

05 June, 2025

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

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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 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

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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

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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 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

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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 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

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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

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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. 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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