Israel’s Tax Authority (ITA) issued Circular No. 01/2025 on 11 February 2025, clarifying amendments to the Income Tax Ordinance. The amendments pertain to transfer pricing and country-by-country (CbC) reporting requirements. The key highlights

Belgium has issued Guidance (Circular 2025/C/6) on 27 January 2025, announcing various updates to the VAT rules by modernising procedures, compliance, and refunds. The key changes include new deadlines for periodic and special VAT returns, VAT

Belgium’s five political parties agreed on a coalition government program on 31 January 2025, which outlines various tax reform measures. These reforms introduce tax measures to boost economic competitiveness by encouraging “green”

Israel’s Knesset has passed the Trapped Profits Law (tax on excess undistributed profits) on 29 December 2024. The law imposes a 2% tax on excess undistributed profits of closely held holding companies (entities with five or fewer

Israel’s Tax Authority has issued guidance on the increase in the standard VAT rate from 17% to 18%, effective 1 January 2025. The guidance provides an explanation of how to apply the correct VAT rate to transactions such as goods, services,

Belgium’s tax authorities have issued two circular letters -  Circular 2024/C/82 and Circular 2024/C/83 - on 13 December 2024 - providing clarity on specific aspects of the controlled foreign company (CFC) rules introduced in 2023. The amended