Greece updates tax incentives for family wealth management entities
The new law has halved the minimum annual operating expenditure for family offices from EUR 1 million to EUR 500,000, easing financial entry requirements. Greece has enacted Law 5222/2025, introducing enhanced tax incentives for Special Purpose
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Pakistan drops digital presence proceeds tax
The DPPT was scrapped just one month after its introduction on 30 July 2025. Pakistan’s government has scrapped the digital presence proceeds tax (DPPT) on foreign entities supplying digital goods and services to Pakistan’s consumers, only a
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OECD releases updated reporting formats for global minimum tax, CARF, issues new FAQs on CARF, CRS
The OECD has released XML Schemas and User Guides to facilitate reporting and information exchange under the Global Minimum Tax and CARF. As part of ongoing efforts to enhance tax transparency and improve international tax compliance, the OECD
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Nigeria drops proposal to cut corporate tax rate to 25%
A reform in the Nigeria Tax Act removes the proposed reduction of the 30% income tax rate for large companies to 25%. Nigeria has published the Nigeria Tax Act (NTA) in the official gazette, which contains revisions that differ from the
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Korea (Rep.): Ministry of Economy and Finance proposes corporate tax hikes, AI investment incentives, QDMTT Pillar Two rules
The proposals will require approval from the National Assembly before they can enter into force. The South Korean Ministry of Economy and Finance released the 2025 tax law amendment proposal, on 31 July 2025, which includes corporate tax hikes,
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Russia introduces 0% corporate tax, other incentives for International Advanced Development Territory
The law will enter into force on 1 January 2026. Russia’s State Duma approved Federal Law No. 518779-8 on 22 July 2025, amending the Tax Code to establish tax and social contribution incentives for residents of the International Advanced
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UK: HMRC adds Spain, Guernsey as Pillar Two recognised territories
HMRC confirms Spain and Guernsey as recognised Pillar Two jurisdictions in Notice 2 issued on 24 July 2025. The UK’s tax, payments and customs authority, His Majesty’s Revenue & Customs (HMRC) issued Notice 2 — Pillar Two top-up taxes
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US: Treasury publishes list of countries requiring cooperation with an international boycott with no changes
The list includes Iraq, Kuwait, Lebanon, Libya, Qatar, Saudi Arabia, Syria, and Yemen. The US Department of the Treasury published a notice in the Federal Register on 31 July 2025, listing countries that may require participation or
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Costa Rica postpones launch of new digital tax platform
The launch of the new digital tax platform has been rescheduled to 6 October 2025. Costa Rica’s Tax Administration (DGT) has announced that the launch of the new digital tax platform, “TRIBU-CR,” has been postponed from 4 August to 6
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Bolivia: National Tax Service extends filing deadlines for corporate tax, transactions declarations
Corporate tax returns for tax years ending 31 March 2025 are now due by 29 August 2025. Bolivia’s National Tax Service (SIN) issued Resolution No. 102500000032 on 28 July 2025, in which it extended filing deadlines for corporate income tax
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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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Colombia launches tax incentives for sports investments
The law allows taxpayers to fund recognised sports activities in exchange for tradable income tax credits. Colombia’s Congress has enacted Law 2490-2025, effective 17 July 2025, introducing income tax incentives for individuals and entities
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Malta gazettes 2025 audit exemption rules for startups, small companies
Malta introduces new audit exemptions for startups, micro-enterprises, and shipping companies under the Audit Exemption Rules 2025. Malta has gazetted Legal Notice No. 139 of 2025 on 15 July 2025, enacting the audit exemption rules
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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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Poland: President approves law to ease corporate income tax rules
The new law removes certain tax exemptions tied to SEZ permits, eliminates annual reporting for general partnerships, and lifts penalties affecting corporate tax group status for related-party transactions. Poland’s President has signed a law
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Canada: Google ends 2.5% ad surcharge following move to repeal DST
The fee, introduced on 1 October 2024, applied to Google Ads and YouTube reservations to cover compliance costs under Bill C-69, which targeted large digital companies. Google has announced that it is scrapping its 2.5% "Canada DST Fee" on
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US: IRS releases temporary guidelines to enhance LB&I audit procedures
The memo outlines plans to phase out the acknowledgement of facts process by 2026, expand accelerated issue resolution to large corporate cases, and strengthen review of fast track settlement denials. The US Internal Revenue Service (IRS)
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Chile updates daily late tax payment interest rate for July–December 2025
The updated daily interest rate for late tax payments is 0.0222222222% for the period from 1 July to 31 December 2025. Chile’s Internal Revenue Service (SII) has issued Resolution No. 75 on 26 June 2025, setting the daily interest rate for late
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