Philippines enforces mutual assistance convention
The OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters, amended by the 2010 protocol, took effect in the Philippines on 1 May 2025. The Multilateral Convention on Mutual Administrative Assistance in Tax Matters
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Belgium launches e-services for 2025 corporate tax filings
Belgium's Federal Public Service (SPF) Finance has announced the launch of the Biztax e-service for filing corporate tax returns for the 2025 assessment year (2024 tax year). The deadline for filing returns with financial year-end dates between
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Cyprus imposes new defensive tax rules on payments to low-tax and non-cooperative jurisdictions
Cyprus has published Laws No. 47(I)/2025 and No. 48(I)/2025 in the Official Gazette on 16 April 2025. These laws introduce updated defensive measures on outbound payments of dividends, interest, and royalties to non-cooperative or low-tax
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Turkey: Tax Authority extends 0% withholding tax on bonds, bills and sukuk to July 2025
Turkey's tax authority issued Presidential Decree No. 9769 on 30 April 2025, which was published in the Official Gazette on 1 May 2025 (No. 32887). The decree extends the 0% withholding tax rate on income derived from certain government-backed
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Switzerland consults on new OECD Pillar 2 reporting rules
Switzerland’s Federal Council has launched a public consultation on amendments to the Minimum Taxation Ordinance (MTO), introducing new reporting requirements for multinational companies under the OECD’s Pillar 2 rules. The announcement was
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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
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Russia proposes 10% windfall tax on large profits for 2024–2025
The Russian State Duma is reviewing a draft law that would impose a windfall tax on banks and major energy companies, including those involved in hydrocarbon extraction, petroleum refining, and the production and export of liquefied natural gas
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Netherlands 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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Argentina further limits surcharge on foreign currency purchases
Argentina’s tax authority (ARCA) has further tightened the restrictions on the surcharge applied to foreign currency purchases, known as the PAIS tax. This decision regarding the restrictions on surcharges was implemented through an amendment
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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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Brazil reportedly plans to offer tax breaks to attract data centres
Brazil’s Finance Minister Fernando Haddad will be heading to Silicon Valley in the US this week in a bid to lure data centres to Brazil by offering federal tax exemptions on related tech investments, according to sources familiar with 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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Lithuania proposes raising corporate tax rates, modifying taxation of immovable property
The Lithuanian Ministry of Finance has announced the introduction of a package of legal acts on tax amendments into the system of legal harmonisation on 16 April 2025. The key proposals involve raising the corporate income tax (CIT) rate, modifying
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France: Tax Authorities issue ruling clarifying withholding tax on dividend arbitrage
France’s tax authorities issued Ruling No. BOI-RES-RPPM-000203 on 17 April 2025, clarifying domestic withholding tax rules on dividend arbitrage. The ruling, following amendments in the 2025 Finance Law, introduces a beneficial ownership
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Singapore revises guidelines on withholding tax for specific payments
The Inland Revenue Authority of Singapore (IRAS) has released revised guidance on payments liable to withholding tax on 25 April 2025. The guidance outlines the types of payments subject to withholding tax when made to non-resident companies:
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US: Treasury publishes list of countries requiring cooperation with an international boycott
The US Department of the Treasury published a notice in the Federal Register on 25 April 2025, listing countries that may require participation or cooperation in an international boycott. The list includes Iraq, Kuwait, Lebanon, Libya, Qatar,
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US: IRS reminds tax-exempt organisations of key forms before the 15 May 15 deadline
The US Internal Revenue Service (IRS) has issued IR-2025-54 on 25 April 2025, highlighting important forms and topics to ensure successful and timely filing as the 15 May 2025 filing deadline approaches for tax-exempt organisations. The annual
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