Saudi Arabia introduces beneficial ownership reporting rules
Saudi Arabia’s Ministry of Commerce has announced new beneficial ownership reporting requirements, effective from 3 April 2025, as part of the country’s updated Commercial Registry system. The regulations aim to enhance corporate transparency,
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Czech Republic clarify tax-related charges remissions
The Czech Republic’s General Financial Directorate has issued Decree D-67, which replaces Decree D-58, on 21 February 2025, providing guidance on waiving tax-related charges. This decree ensures consistent and fair consideration of requests to
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Lithuania expands deductible corporate gift expenses
Lithuania's tax authority expanded the range of corporate gifts eligible for tax deductions as representational expenses, effective 17 February 2025. The updated regulations now include items such as sweets, edible gift sets, and alcoholic
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Belgium: Court rules no unfair discrimination between cash and in-kind contributions in withholding tax on small company dividends
Belgium’s Constitutional Court has published Decision No. 4/2025 on 16 January 2025, responding to a preliminary question submitted by the Court of First Instance in Liège. The ruling clarifies when small companies can apply the reduced
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Malaysia grants tax exemptions on payments to/from Labuan firms
Malaysia has released the Income Tax (Exemption) Order 2025 in its Official Gazette on 13 February 2025. This order grants tax exemptions on specific payments made to or received from Labuan companies. A Labuan company is incorporated under the
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Kenya introduces new income tax exemption rules for charities
The Kenya Revenue Authority has published a notice on 13 February 2025 regarding the implementation of the Income Tax (Charitable Organisations and Donations Exemption) Rules, 2024. These rules, which came into force on 18 June 2024, outlines the
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France gazettes Finance Law 2025
France’s Finance Law 2025 has been published in the Official Gazette, introducing key measures, such as temporary taxes on high-income individuals and large corporations, revisions to the Pillar Two global minimum tax rules, and a new tax on share
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France updates interest rate caps for shareholder loan deductions for FY ending between December 24 and March 25
The French tax authority has published new interest rates for determining the deductibility of interest payments to shareholders on 12 February 2025. The fiscal year-end period and the corresponding applicable rates are as follows: Fiscal
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Turkey introduces guide on simple method business income taxation
Turkey’s Ministry of Treasury and Finance has released an updated guide on the Simple Method of Taxation for business income, aimed at individuals engaged in business activities under Article 20/A of the Individual Income Tax Law (IITL). This
See MoreCzech Republic gazettes tax break extension for Ukraine donations
The Czech Republic has published Law 24/2025 in the Official Gazette on 10 February 2025, a legislation that extends the enhanced tax deduction for donations sent to Ukraine. Under Law 24/2025, individuals and corporations can deduct up to 30% of
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Ireland: Revenue publishes eBrief No. 014/25 on surcharge for undistributed income of close companies
Irish Revenue has published eBrief No. 014/25 20 January 2024, providing updated guidance on the surcharge for certain undistributed income of close companies, Tax and Duty Manual Part 13-02-05. Section 440 TCA 1997 provides for an additional
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Colombia: Tax Authority clarifies tax losses and exempt dividends under CHC regime
Colombia's tax authority issued Official Tax Opinion No. 100208192-69 on 17 January 2025, providing clarification on the treatment of tax losses and corporate income tax-exempt dividends under the Colombian holding company (CHC) regime. An
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South Africa: SARS updates interest rate for taxation of low-interest loans
The South African Revenue Service (SARS) has announced a reduction in the official interest rate Table 3 for taxation on interest-free or low-interest loans, lowering it from 8.75% to 8.50%, effective 1 February, 2025. This change follows a
See MoreTurkey updates withholding tax rules for financial instruments
Turkey's Revenue Administration has announced the publication of Presidential Decision No. 9487 on 31 January 2025, which extends and modifies the reduced withholding tax rates on income from deposit accounts held in Turkish lira (TRY). Under the
See MoreCzech Republic: Senate approves extended tax breaks for Ukraine donations
The Czech Republic Senate has passed a new legislation to expand the tax deductibility of donations to Ukraine. Once enacted, the law will allow individuals and corporations to deduct up to 30% of the value of their donations, an increase from the
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Ecuador sets 2023 tax year presumptive assessment rates
Ecuador's Internal Revenue Service (SRI) has published Resolution No. NAC- DGERCGC25-00000002 on 30 January 2025, detailing the coefficients for presumptive tax assessments for 2023. The 2023 coefficients, which differ based on industry or
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Ireland: Revenue updates corporation tax manual with new rules on company dissolution
Irish Revenue's eBrief No. 030/25 on 31 January 2025 introduces updates to Tax and Duty Manual Part 08-02-01, refining Corporation Tax rules on income charges and adding a new section 4.6 focused on company dissolution. This manual provides an
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US: MTC issues proposal to define digital products for state taxation
The Multistate Tax Commission (MTC) Workgroup issued a proposal on 23 January 2025 exploring the creation of a distinct tax classification for digital products. The intention is to separate digital goods from traditional classifications like
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