Netherlands emissions authority accepting CBAM declarant applications from May 2025Â
The Netherlands' emissions authority (NEA) announced on 1 May 2025 the launch of a dedicated online portal for taxpayers to apply for CBAM authorised declarant status. The Carbon Border Adjustment Mechanism (CBAM) is an initiative introduced by
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Pakistan authorises tax authority to collect dues regardless of pending appeals, stay orders
Pakistan's Federal Board of Revenue has published the Tax Laws (Amendment) Ordinance 2025, enacted on 2 May 2025. A key amendment in the legislation authorises the tax authority to demand immediate tax payment, even if a stay is granted or an appeal
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Australia: ATO publishes guidance on eligibility of instant asset write-offÂ
The Australian Taxation Office (ATO) released guidance, on 5 May 2025, about business eligibility for the AUD 20,000 instant asset write-off for 2024-2025. Businesses with a turnover under AUD 10 million using simplified depreciation rules may
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Argentina revises income tax advance payment regime for businesses
Argentina’s tax authority (ARCA) has announced changes to the income tax advance payment regime on 30 April 2025 through General Resolution 5685/2025, which was published in the Official Gazette the same day. As per the amendment, companies
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Costa Rica raises exempt amount for individual business incomeÂ
Costa Rica updated the annual tax brackets for individual business income, raising the 0% exempt amount from CRC 4,094,000 to CRC 6,244,000 through Law No. 10.667, which was published in the Official Gazette on 24 April 2025. The updated tax
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Bangladesh to shift tax exemption authority to parliament
Bangladesh will introduce a new policy placing full authority for tax exemptions with parliament, removing decision-making power from the government and National Board of Revenue (NBR). NBR Chairman Md Abdur Rahman Khan said the move aims to
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Turkey raises foreign exchange conversion support rate for businesses
Turkiye has raised the foreign exchange (FX) conversion support rate for companies converting foreign currency into Turkish lira (TRY) from 2% to 3%. This change, effective from 1 May to 31 July 2025. This update is outlined in Communiqué No.
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Uruguay extends VAT relief for tourism sector
Uruguay published Decree No. 93/025 on 28 April 2025, extending the temporary value-added tax (VAT) reduction for certain tourism-related services until 30 April 2026. The measure continues the nine percentage point cut from the standard 22% VAT
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France updates list of non-cooperative tax jurisdictions, removes Bahamas, Belize, Seychelles
France issued a decree on 18 April 2025, published in the Official Gazette on 7 May 2025, updating its list of non-cooperative states and territories (NCSTs), removing Bahamas, Belize, and Seychelles. The updated list now includes 13
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Saudi Arabia: ZATCA urges taxpayers to utilise fine exemption initiative again
The Saudi Zakat, Tax and Customs Authority (ZATCA) has urged all taxpayers to leverage from the “Cancellation of Fines and Exemption of Penalties Initiative" which ends on 30 June 2025. ZATCA has clarified that the fines covered by the
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Austria updates CRS reporting jurisdictions list
Austria has released an updated Ordinance, effective from 1 May 2025, with new lists of participating and reportable jurisdictions for the automatic exchange of financial account information under the Common Reporting Standard (CRS), adding Armenia,
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Russia suspends late filing VAT return filing penalties for business using simplified tax regime
Russia, on 25 April 2025, temporarily suspended penalties for late VAT return submissions in 2025 for businesses using the simplified tax regime who, from 2025, are required to calculate and pay VAT. Taxpayers using the simplified taxation system
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EU: VAT Committee releases 126th meeting minutes on e-invoicing, IOSS implementation
The European Union's Value Added Tax Committee, on 5 May 2025, released the non-public minutes of its 126th meeting from 21 March 2025. This session focused solely on implementing the VAT in the Digital Age (ViDA) package adopted by the Council of
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Greece updates CbC report exchange list for 2023 under MCAA
Greece published Decision No. A 1056 in the Official Gazette on 30 April 2025, updating the list of jurisdictions participating in the exchange of country-by-country (CbC) reports under the Multilateral Competent Authority Agreement (MCAA) for the
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UAE: FTA clarifies corporate tax exemptions of investors in REITs as a qualified fund
The UAE’s Federal Tax Authority (FTA) has issued a new public clarification regarding Corporate Tax on the tax treatment of investors in a Real Estate Investment Trust (REIT) who are exempt from Corporate Tax as a Qualified Fund on 6 May
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Germany extends deadline for single use plastics reporting
The German Environment Agency (UBA) has extended the deadline for manufacturers to submit their 2024 quantity reports to 15 June 2025. In 2025, UBA will waive the usual requirement for an external audit of these reports, though it may request
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Spain updates Basque Economic Agreement to implement OECD’s Pillar Two global minimum tax
Spain published Law No. 3/2025 in its Official Gazette on 29 April 2025, updating the Economic Agreement with the Basque Country. This agreement, originally from 2002, has been revised to include the new global minimum tax rules under the
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Singapore: IRAS updates corporate tax calculators for AY 2025
The Inland Revenue Authority of Singapore (IRAS) has updated its webpage for preparing tax computations by publishing two Basic Corporate Income Tax Calculators (BTC) for the assessment year (AY) 2025. These Excel-based calculators are tailored
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