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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Mexico announces 2025 property tax relief program for eligible companies
The State of Mexico has approved a property tax exemption for businesses that meet specific requirements. Companies must own property in the state, provide proof of recent operations, and show compliance with tax obligations. The exemption was
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Kenya presents 2025 Finance Bill, aims to reduce cost of living
Kenya's Cabinet Secretary for National Treasury and Economic Planning, John Mbad,i has presented the Finance Bill 2025 before the National Assembly on 30 April 2025. The government says it has not introduced any new taxes in the Finance Bill
See MoreNetherlands releases draft tax plan measures for 2026
The Netherlands State Secretary for Finance has sent a list of tax measures on 25 April 2025, which are expected to be included in the annual Tax Plan and other tax legislation planned for the year, to the lower house of parliament. The Tax Plan
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Belgium: Government presents tax reform plan to parliament, includes VAT measures
The Belgian Chamber of Representatives has released a policy note on 24 April 2025 detailing its tax reform plans for the upcoming year. The key measures of the tax reform plan include: Dividends received deduction rules Enhancing the
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US: IRS revises practice unit on home office, stewardship deductions for US branches of foreign firms
The US Internal Revenue Service (IRS) has updated its international practice unit, Section 861 - Home Office and Stewardship Expenses, on 28 March 2025, focusing on the deductibility of home office and stewardship expenses by a US branch of a
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UK: HMRC publishes report on R&D tax reliefs, expenditure credit, patent box
The UK tax authority, His Majesty’s Revenue and Customs (HMRC) has released a report, which was commissioned to BMG, on regional data on Corporate Tax reliefs on 24 April 2025, detailing research on R&D tax relief for SMEs, the R&D
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Malta enacts Budget Act introducing elective tax and capital deduction rules
Malta has enacted Act No. IX of 2025 on 17 April 2025, implementing key income tax measures for the 2025 financial year. The Act introduces an Elective Tax, allowing for the application of Pillar 2 top-up taxes on an optional basis. This follows
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Turkey announces average commercial loan interest rates for inflation adjustment
The Turkish Ministry of Treasury and Finance has published the average commercial loan interest rates for January, February, and March 2025 as part of the inflation adjustment process for financial statements on 22 April 2025. The rates are as
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Guatemala raises small taxpayer tax threshold
Guatemala has raised the annual income threshold for the simplified small taxpayer regime. This regime applies a flat 5% tax on gross income, replacing income tax and VAT. Starting 9 April 2025, the threshold will be updated from GTQ 150,000 to
See MoreUS: IRS updates guidelines for IRC 263A accounting method changes
The US Internal Revenue Service ( IRS) has published an updated International Practice Unit titled IRC 481(a) Adjustments for IRC 263A Accounting Method Changes. This practice unit was updated to remove references to resources that are no longer
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UK: HMRC issues penalty guidelines for AEOI non-compliance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) issued guidance (CC/FS46) on 14 April 2025, detailing the penalties that financial institutions may face for failing to comply with Automatic Exchange of Information (AEOI)
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Armenia limits activities for turnover tax and micro enterprise regimes
The Armenian National Assembly announced that President Vahagn Khachaturyan has signed the Tax Code amendments on 4 April 2025. The changes impact the VAT treatment of advocacy-related services and revise the rules for deductible expenses linked
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UAE issues Ministerial Decision No. 84 of 2025 on audited financial statements for corporate tax
The UAE Ministry of Finance has issued Ministerial Decision No. 84 of 2025 on 25 March 2025 replacing Ministerial Decision No. 82 of 2023, outlining the requirements for taxpayers to prepare and maintain audited financial statements for corporate
See MoreUS: IRS urges taxpayers to review withholding for next year
The US Internal Revenue Service (IRS) issued IR-2025-52 on 17 April 2025, in which it reminded taxpayers that proper tax withholding now is key to avoiding surprises when they file their tax return next year. Making any needed adjustments earlier in
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France: Tax Authority issues guidance on new capital reduction tax for share buybacks
The French Tax Authority issued guidance on the declaration and payment procedures for the new tax on capital reductions involving share buybacks by certain companies on 11 April 2025. The tax must be reported and paid alongside the taxpayer’s
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