Hong Kong: IRD revises eligible debt instruments list for profits tax relief
The QDIs listed are mainly composed of debt instruments issued by governments and financial institutions within the Asia-Pacific region, along with a limited number from other issuers. The Hong Kong Inland Revenue Department (IRD) has released
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Colombia: DIAN clarifies dividend withholding for Andean Community holding companies
DIAN rules that dividends to Andean Community holding companies with comparable regimes are exempt from withholding tax, while others remain taxable. Colombia’s tax authority (DIAN) issued Ruling 8935 int 1037 on 10 July 2025, providing
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Austria to leverage AI to recover EUR 354M in 2024 tax revenue
Austria’s finance ministry says AI helped uncover tax fraud, generating an extra EUR 354 million in tax revenue in 2024. Austria’s Ministry of Finance announced on 13 August 2025 that its use of artificial intelligence (AI) helped generate an
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New Zealand: IR consults PPP loss carry-forward rules
The consultation is set to conclude on 19 September 2025. New Zealand’s Inland Revenue (IR) has initiated a public consultation on the draft Income tax – Public private partnership projects and business continuity test for losses PUB00521 on
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Turkey sets Q2 2025 asset revaluation rate
Turkey’s Revenue Administration has set the asset revaluation rate for the second provisional tax period of 2025 at 9.23%, effective for corporate taxpayers’ provisional tax calculations. The Turkish Revenue Administration published Corporate
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Malaysia: Inland Revenue Board publishes ruling clarifying group relief for resident companies
The ruling confirms the 70% loss surrender limit and introduces a three-year cap for newly established companies, alongside new definitions, examples, and clarifications. The Inland Revenue Board of Malaysia has issued Public Ruling No. 2/2025,
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South Africa: SARS updates interest rate for taxation of low interest loans
SARS will cut the official interest rate for taxing interest-free or low-interest loans from 8.25% to 8.00% on 1 September 2025. The South African Revenue Service (SARS) has updated Table 3 of the official interest rates used for taxing
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Argentina extends payment scheme for tax debts from miscalculated losses
The updated plan introduces fines in the payment plan, reduces the initial advance payment to 2% of the total tax debt, and extends the application deadline to 31 October 2025. Argentina’s tax authority (ARCA) has renewed the payment plan
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Argentina continues tax suspension for non-profits, healthcare sector
The tax suspension is now extended to 31 December 2025. Argentina has issued General Resolution 5736/2025 on 29 July 2025, which extends the suspension of collection lawsuits and enforced collection measures for non-profit entities and healthcare
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Italy implements emergency tax revisions on CFC, hybrid mismatch penalty rules
Urgent tax measures include revising the domestic CFC rules, tax loss carry-forward provisions, and the penalty protection regime for hybrid mismatch assessments. Italy’s parliament converted Law Decree No. 84 of 17 June 2025 into law with
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Saudi Arabia: ZATCA urges taxpayers to utilise penalty waiver before 31 December deadline
ZATCA’s penalty exemption scheme before it ends on 31 December 2025. Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has called on taxpayers to benefit from the ongoing penalty exemption scheme before it concludes on 31 December
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Ireland: Irish Revenue issues updated partnership taxation guidelines
The Tax and Duty Manual details the types, taxation, administrative rules, returns, appeals, and penalties applicable to Irish partnerships. Irish Revenue has released eBrief No. 149/25 introducing a new Tax and Duty Manual (TDM) Part 43-00-03,
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UK unveils digital tax strategy roadmap with focus on e-invoicing
The UK aims to modernise its tax and customs systems through a digital strategy centred on e-invoicing and improved compliance. The UK’s tax, payments, and customs authority, HM Revenue and Customs (HMRC), has set out its “digital by
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Greece amends corporate, VAT, personal tax laws
Law 5222/2025 introduces changes to VAT, income tax, customs and real estate rules, following public consultation and EU alignment efforts. Greece enacted Law 5222/2025 on 28 July 2025, introducing changes to corporate income tax, VAT, income
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US: IRS issues temporary CAMT guidance for partnerships, new rules expected
The IRS issued interim guidance on applying the Corporate Alternative Minimum Tax (CAMT) to partnerships and announced plans to revise and replace the September 2024 proposed regulations. The US Internal Revenue Service (IRS) issued Notice
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UAE issues depreciation rules for fair valued investment properties
The Decision allows depreciation deductions for fair-valued investment properties under new corporate tax rules from 2025. The UAE Ministry of Finance has issued Ministerial Decision No. 173 of 2025, effective for tax periods beginning 1 January
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Hong Kong: IRD issues new FAQs on foreign income exemption rules
The FAQs provide detailed clarifications on the FSIE regime, covering definitions of covered income, economic substance, and participation requirements. The Hong Kong Inland Revenue Department (IRD) has released new FAQs on 24 July 2025,
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Kazakhstan consults on preferential tax jurisdictions list
The deadline for submitting comments is 6 August 2025. Kazakhstan's Ministry of Finance initiated a public consultation on 22 July 2025 regarding a draft order for jurisdictions with preferential tax regimes. This list impacts tax measures for
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