Posts by Abdur Rouf

South Africa to submit revised trade deal to US to address 30% tariff

August 14, 2025

South Africa has submitted a revised trade offer to the US on 12 August 2025 to seek a reduction of...

US suspends de minimis duty exemption on low-value imports

August 14, 2025

The Trump administration has ended the duty-free treatment for imports valued at USD 800 or less, effective 29 August 2025. ...

US: IRS issues guidance on safeguarding taxpayer identity with multi-factor authentication, IP PINs, and online accounts

August 14, 2025

The IRS and Security Summit urge taxpayers and tax professionals to use identity protection PINs, secure online accounts, and multi-factor...

Taiwan: MoF clarifies recovery of retained earnings tax break for assets disposed of within three years

August 14, 2025

Taiwan’s finance ministry announced that tax incentives on retained earnings invested in qualifying assets will be revoked with interest if...

India: Lower house approves higher standard deductions, pension exemptions, incentives for Saudi investment funds

August 13, 2025

Lok Sabha approves Taxation Laws (Amendment) Bill 2025, proposing higher standard deductions, pension exemptions, and incentives for Saudi investment funds....

Turkey sets Q2 2025 asset revaluation rate

August 13, 2025

Turkey’s Revenue Administration has set the asset revaluation rate for the second provisional tax period of 2025 at 9.23%, effective...

Czech Republic: Senate approves updated deadlines for Pillar Two tax reporting

August 13, 2025

The Senate amended the Act on top-up taxes, extending first-time filing deadlines for the top-up tax information return and top-up...

Poland: Ministry of Finance consults extension of temporary withholding tax exemption for technical payers

August 13, 2025

Poland plans to extend the temporary withholding tax exemption for technical payers, including securities account operators, until the end of...

Nigeria parliament
Nigeria: Tax Authority extends deadline for e-invoice integration

August 13, 2025

FIRS Management has approved a three months extension of the compliance deadline. Nigeria’s Federal Inland Revenue Service (FIRS) issued a...

UAE: FTA establishes audited special-purpose financial statements preparation rules

August 13, 2025

UAE’s Federal Tax Authority issues Decision 7/2025 requiring tax groups to prepare annual audited aggregated financial statements in line with...

pakistan parliament
Pakistan: FBR updates e-invoicing implementation schedule

August 13, 2025

FBR sets new phased deadlines for registration, testing, and mandatory e-invoicing for sales tax-registered persons. The Pakistan Federal Board of...

Malaysia: Inland Revenue Board publishes ruling clarifying group relief for resident companies

August 13, 2025

The ruling confirms the 70% loss surrender limit and introduces a three-year cap for newly established companies, alongside new definitions,...

UK: HMRC announces reduced late payment, repayment interest rates

August 13, 2025

HMRC announced revised interest rates on late and early tax payments, effective 27 August 2025. HMRC published updated interest rates...

Italy introduces conditional IRES rate cut to reward responsible corporate growth

August 13, 2025

 The incentive is available to Italian-resident joint-stock companies, commercial entities, and permanent establishments of non-resident companies, and non-commercial entities on...

Romania: ANAF publishes form for declaring, paying the top-up tax

August 13, 2025

The form is used for declaring and paying the top-up tax. On 11 August 2025, Romania’s tax authority (ANAF) published...

Australia: Central Bank cuts interest rates for third time in 2025 as inflation eases

August 13, 2025

Following a two-day policy meeting, the Reserve Bank of Australia board announced that it had reduced the cash rate by...

Bahrain, Russia sign mutual customs assistance agreement

August 12, 2025

The customs cooperation agreement is aimed at enhancing trade facilitation and border security between the two countries.  Bahrain and Russia...

Taiwan seeks lower US tariffs, continues negotiations

August 12, 2025

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, supplies chips to major technology companies including Nvidia. Taiwan’s Cabinet...