Posts by Abdur Rouf

Saudi Arabia: ZATCA announces criteria for 19th wave of e-invoicing integration

January 1, 2025

The Saudi Arabian Zakat, Tax, and Customs Authority (ZATCA) has announced the eligibility criteria for Group 19 taxpayers in the...

Russia introduces reduced corporate income tax rate for electronics manufacturers

January 1, 2025

Russian companies manufacturing equipment for electronic components and radio-electronic products will benefit from a reduced 8% corporate income tax rate...

Luxembourg enacts VAT scheme for small businesses

January 1, 2025

Luxembourg has enacted a law implementing a VAT scheme for small businesses. VAT obligation exemption threshold has been increased to...

Luxembourg enacts bill amending global minimum taxation law

January 1, 2025

Luxembourg has enacted the bill amending the law that implements the Minimum Taxation Directive (2022/2523) on 23 December 2024, known...

Korea (Rep.), Philippines FTA enters into force

January 1, 2025

The Korea-Philippine Free Trade Agreement (FTA) entered into force on 31 December 2024, as announced by the Korean Embassy in...

Uruguay sets deadlines for tax return submissions, payments in 2025

January 1, 2025

The Uruguayan tax authorities (DGI) issued a Resolution 2,867/024 on 11 December 2024, establishing deadlines for filing tax returns and...

Brazil enacts Pillar Two global minimum tax rules

January 1, 2025

The President of Brazil, Luiz Inácio Lula da Silva, enacted Bill No. 3,817/24, which is now known as Law No....

Malaysia updates transfer pricing guidelines, audit framework

January 1, 2025

Malaysia’s Inland Revenue Board (IRB) has updated transfer pricing guidelines and transfer pricing audit framework. The transfer pricing guidelines have...

Luxembourg enacts Budget Law 2025, introduces changes to CO2 tax credits

January 1, 2025

Luxembourg has enacted the Budget Law for 2025, which includes modifications to the CO2 tax credits, VAT, and introduction of...

China enacts first VAT Law

January 1, 2025

The 13th Session of the 14th National People’s Congress Standing Committee has reviewed and approved the draft of the Value-Added...

Nigeria: President presents 2025 budget

January 1, 2025

The President of Nigeria, Bola Ahmed Tinubu, presented the 2025 Budget titled “The Restoration Budget: Securing peace, Rebuilding prosperity” during...

Russia updates CbC reporting jurisdictions

December 31, 2024

The Russian Federal Tax Service (FTS) has updated its list of jurisdictions for automatic exchange of country-by-country (CbC) reports, effective...

Greece updates classification criteria for business size categories

December 31, 2024

The Greek Official Gazette published Law No. 5164 on 24 December 2024, which transposes key EU directives related to sustainability...

Peru: Congress approves VAT exemption on international remittance fees

December 31, 2024

Peru’s Congress has approved a tax relief measure under Law 32,201 on 26 December 2024, exempting VAT on fees related...

Malta gazettes VAT (Amendment) Act 2024, introduces EU Small Business Scheme for Cross-Border Supplies

December 31, 2024

Malta published the Value Added Tax (Amendment) Act 2024 in the Official Gazette, on 17 December 2024, introducing the EU...

Turkey introduces 1% withholding tax on e-commerce intermediary payments

December 31, 2024

Turkey’s Revenue Administration has announced the issuance of Presidential Decision No. 9284, introducing a 1% withholding tax rate on payments...

Qatar: Parliament approves introduction of Pillar Two global minimum tax

December 31, 2024

Qatar’s General Tax Authority has announced that the Shura Council (parliament) has approved amendments to implement measures for the Pillar...

Australia: ATO consults implementation of thin capitalisation third-party debt test

December 31, 2024

The Australian Taxation Office (ATO) has initiated a public consultation regarding the  implementation of the thin capitalisation third-party debt test...