Portugal: Pillar Two Directive enters into force
Portugal has published Law No. 41/2024 in the Official Gazette on 8 November 2024, transposing the Pillar Two Directive into law. The law received Presidential Approval on 30 October 2024, and will take effect starting 9 November
See More
Brazil extends consultation on Pillar Two top-up tax for social contribution
Brazil's tax authority has announced on 4 November 2024 that it has extended the public consultation period regarding Normative Instruction No. 2.228 of October 3, 2024 which regulates the Additional Social Contribution on Net Profit (CSLL),
See More
Greece consults tax exemptions for non-EU intra-group dividends, capital gains
The Greek Ministry of Finance (MoF) has initiated a public consultation regarding the introduction of a participation exemption for intra-group dividends and capital gains derived from non-EU entities. This proposed measure aims to enhance the
See More
Poland consults extension of temporary withholding tax exemption
Poland’s Ministry of Finance has initiated a public consultation regarding a draft regulation proposing the extension of the temporary exemption withholding tax under the “pay and refund” (MPR) mechanism until 31 December 2025, allowing
See More
US: IRS and Treasury to hold hearing on dual consolidated loss rules, disregarded payments treatment
The US Internal Revenue Service (IRS) and Treasury announced a public hearing regarding the proposed Rules on Dual Consolidated Losses and Certain Disregarded Payments on 11 November 2024. This document provides a notice of public hearing on the
See MoreGreece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
See More
Netherlands submits third bill to amend Tax Plan 2025, updates funds for joint account regulations
The Netherlands government has presented the third amending bill to the Tax Plan 2025 to the lower house of parliament on 6 November 2024. This bill aims to eliminate an unintended, temporary tax liability for funds held in joint accounts
See More
Italy updates tax credit form for special economic zone investments
Italy’s tax authorities issued Protocol No. 406943/2024 on 6 November 2024, updating the model form for the supplementary communication required by qualifying taxpayers to receive tax credit benefits for investments made in single special economic
See More
Luxembourg revises draft law to amend Pillar Two global minimum taxation
The Luxembourg government published a revised draft law on 31 October 2024 amending the Global Minimum Taxation Law, commonly referred to as the Pillar Two law. This revised draft introduces additional amendments to the initial draft published on
See More
Ireland: Lower House of Parliament passes Finance Bill 2024
The Irish lower house of parliament approved the Finance Bill 2024, which outlines major tax measures from Budget 2025 on Wednesday, 5 November 2024. Finance Bill 2024, which runs to 118 sections and over 200 pages, implements the taxation as
See More
Philippines reduces corporate income tax rates, provides additional fiscal incentives for qualifying companies
Philippine President Ferdinand Marcos Jr. enacted the law “Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act” on 11 November 2024, reducing corporate income tax rates
See More
Costa Rica sets rules for initial premiums on state debt payments
Costa Rica has issued Resolution MH-DGH-RES-0053-2024 in the Official Gazette on 4 November 2024. This Resolution outlines procedures for paying initial premium payments on state debt installment plans, covering taxes, fees, and contributions
See More
Hungary announces reporting obligations for taxpayers under global minimum tax
Hungary announced the autumn tax package proposal on 29 October 2024, which includes the reporting obligations for taxpayers under the Global Minimum Tax Act. The latest proposal has no amendments compared to the previous version released for public
See More
Indonesia extends tax holiday for key industries, adapts global minimum tax
Indonesia has issued Regulation No. 69 of 2024, extending the tax holiday incentives for pioneer industries as outlined in Regulation No. 130/PMK.010/2020. Regulation No. 130/PMK.010/2020 replaces Regulation No. 150/PMK.010/2018 and extends
See More
Czech Republic updates list of non-cooperative CFC jurisdictions
The Czech Republic Ministry of Finance has released Financial Bulletin No. 9/2024, containing a notice regarding the lists of non-cooperative jurisdictions for various periods about the Czech Republic's controlled foreign company (CFC)
See MorePoland publishes final consultation on mandatory use of e-invoicing
Poland's Ministry of Finance announced the commencement of final consultations regarding the mandatory implementation of the National e-Invoicing System (Krajowy System e-Faktur - KSeF). The National e-Invoicing System was initially scheduled to
See MoreIreland approves new global tax reform rules
Ireland's parliament has passed a bill simplifying transfer pricing for marketing and distribution and amending global minimum tax rules on 6 November 2024. This legislation was enacted as part of the Finance Bill 2024, which was approved by both
See More
UAE urges Resident Juridical Persons to register for corporate tax before end of November
The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in October and November, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 30 November
See More