Taiwan: Ministry of Finance makes available interest-free extension, installment plan for business affected by US tariffs
In response to the impact of the US “Reciprocal Tariffs” policy on various industries, the National Taxation Bureau of Kaohsiung states that taxpayers who are unable to pay the full amount of tax in a single payment during the income tax return
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Taiwan: MOF clarifies that businesses with minor tax overdue can still offset profits and losses
Taiwan’s Ministry of Finance (MOF) announced that profit-seeking businesses with minor outstanding tax payments may still request to offset profits and losses. This clarification was made by the Ministry on 6 May 2025. The National Taxation
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Peru: SUNAT revises digital services definition, excludes human-driven support from withholding tax rules
Peru’s tax authority (SUNAT) updated its guidance on digital services in Report No.46-2025 issued on 29 April 2025. The updated report was made publicly available on 8 May 2025. It reversed its earlier 2024 position that classified online
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US: House Ways and Means Committee releases tax provision summary for budget reconciliation, amends earlier recommendations
The US House Ways and Means Committee released a Description of Tax Provisions related to budget reconciliation recommendations, including proposals to extend key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and other reforms on 12 May
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Bangladesh to raise mandatory minimum corporate turnover tax
The Bangladeshi government is preparing to raise the minimum tax on company turnover from 0.6% to 1% in the upcoming budget. The minimum rate may also rise from 0.25% to 1% for individual taxpayers. These changes are reportedly driven by pressure
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Ireland issues guidance on new corporate tax exemption for foreign distributions
The Irish Revenue Commissioners published Revenue eBrief No. 095/25 on 6 May 2025, which provides guidance on the corporate tax participation exemption for distributions received from foreign subsidiaries. This exemption applies from 1 January
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Poland: Council of Ministers adopts deregulation legislations
Poland's Ministry of Finance announced on 6 May 2025 that the Council of Ministers has adopted a number of draft laws that are part of the deregulation process. Draft corporate tax amendment act The proposal suggests removing the requirement
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UK expands list of tax-exempt government bonds
The UK Treasury published Order SI 2025/553 on 6 May 2025, adding more government bonds, also called "gilt-edged securities", to the list of investments exempt from capital gains tax and corporate tax. In the UK, government bonds are referred to
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Australia: ATO publishes guidance on eligibility of instant asset write-off
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 income
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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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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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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Argentina offers payment plan for tax debts from miscalculated losses
Argentina’s tax authority (ARCA) has announced a payment plan under General Resolution 5684/2025 for tax debts from incorrectly calculated losses on 30 April 2025. In Argentina, tax losses can be carried forward for up to five years. ARCA
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South Africa: SARS lowers interest rates on unpaid taxes and overpaid amounts
The South African Revenue Service (SARS) has released updated interest rate tables effective from 1 May 2025. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely – interest
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US: New Jersey launches mediation pilot program for corporate sales and tax disputes
The New Jersey Division of Taxation is launching a two-year pilot mediation program on 1 October 2025. The Pilot is set to run for 24 months from 1 October 2025 to 30 September 2027. The program is open to all business entities involved in
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Netherlands advances to close tax-free annuity loophole in new omnibus tax bill
The Netherlands State Secretary for Finance has submitted the 2026 Omnibus Tax Bill to Parliament for approval. The Ministry of Finance has published both the bill and its accompanying explanatory memorandum on 25 April 2025. This legislation
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UAE: FTA removes fines for delayed corporate tax registration
The UAE’s Federal Tax Authority (FTA) has introduced a new initiative allowing businesses to have administrative penalties waived or refunded for late corporate tax registration on 2 May 2025, provided certain conditions are met. To qualify,
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