Poland: Council of Ministers adopts deregulation legislations
Poland's Ministry of Finance announced on 6 May 2025 that the Council of Ministers has adopted a number of draft laws that are part of the deregulation process. Draft corporate tax amendment act The proposal suggests removing the requirement
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Belarus updates tax guidance for foreign permanent establishments
The Belarus Ministry of Taxes and Duties has published Letter No. 4-2-21/01461 of 18 April 2025 on taxing foreign organisations operating in Belarus through a permanent establishment. The letter replaces Letter No. 4-2-21/00850 of 20 March 2024, and
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Oman introduces 10-year corporate tax exemption for SEZs, FZs
The Sultanate of Oman issued Royal Decree 38/2025, introducing a new law to govern Special Economic Zones (SEZs) and Free Zones (FZs) on 7 April 2025. It grants qualifying businesses a 10-year exemption from corporate income tax, with the
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UK expands list of tax-exempt government bonds
The UK Treasury published Order SI 2025/553 on 6 May 2025, adding more government bonds, also called "gilt-edged securities", to the list of investments exempt from capital gains tax and corporate tax. In the UK, government bonds are referred to
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Pakistan authorises tax authority to collect dues regardless of pending appeals, stay orders
Pakistan's Federal Board of Revenue has published the Tax Laws (Amendment) Ordinance 2025, enacted on 2 May 2025. A key amendment in the legislation authorises the tax authority to demand immediate tax payment, even if a stay is granted or an appeal
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Australia: ATO publishes guidance on eligibility of instant asset write-offÂ
The Australian Taxation Office (ATO) released guidance, on 5 May 2025, about business eligibility for the AUD 20,000 instant asset write-off for 2024-2025. Businesses with a turnover under AUD 10 million using simplified depreciation rules may
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Argentina revises income tax advance payment regime for businesses
Argentina’s tax authority (ARCA) has announced changes to the income tax advance payment regime on 30 April 2025 through General Resolution 5685/2025, which was published in the Official Gazette the same day. As per the amendment, companies
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Costa Rica raises exempt amount for individual business incomeÂ
Costa Rica updated the annual tax brackets for individual business income, raising the 0% exempt amount from CRC 4,094,000 to CRC 6,244,000 through Law No. 10.667, which was published in the Official Gazette on 24 April 2025. The updated tax
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UAE: FTA clarifies corporate tax exemptions of investors in REITs as a qualified fund
The UAE’s Federal Tax Authority (FTA) has issued a new public clarification regarding Corporate Tax on the tax treatment of investors in a Real Estate Investment Trust (REIT) who are exempt from Corporate Tax as a Qualified Fund on 6 May
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Spain updates Basque Economic Agreement to implement OECD’s Pillar Two global minimum tax
Spain published Law No. 3/2025 in its Official Gazette on 29 April 2025, updating the Economic Agreement with the Basque Country. This agreement, originally from 2002, has been revised to include the new global minimum tax rules under the
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Singapore: IRAS updates corporate tax calculators for AY 2025
The Inland Revenue Authority of Singapore (IRAS) has updated its webpage for preparing tax computations by publishing two Basic Corporate Income Tax Calculators (BTC) for the assessment year (AY) 2025. These Excel-based calculators are tailored
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Taiwan extends 2024 annual corporate tax return, investment incentive application deadlines
Taiwan's deadline for filing and paying the 2024 annual tax return has been extended from 31 May to 30 June 2025. The deadline to apply to the competent central authority for various investment tax credits have also been extended until 30 June
See MoreArgentina offers payment plan for tax debts from miscalculated losses
Argentina’s tax authority (ARCA) has announced a payment plan under General Resolution 5684/2025 for tax debts from incorrectly calculated losses on 30 April 2025. In Argentina, tax losses can be carried forward for up to five years. ARCA
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EU publishes DAC9 directive for top-up tax information return
The EU has published the Council Directive (EU) 2025/872 of 14 April 2025 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC9) in the Official Journal of the European Union on 6 May 2025. The directive
See MoreCosta Rica consults on digital tax compliance and cross-border VAT reporting
Costa Rica’s tax administration (DGT) has released two draft resolutions for public consultation. These initiatives are part of the country's digital transformation plan, aiming to simplify taxpayer interactions through the TRIBU-CR platform
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Bolivia extends tax return and report filing deadline for 2024
Bolivia's National Tax Service announced an extension of the tax return and payment deadline for the fiscal year ending on 31 December 2024 through Resolution No. 102500000021 of 30 April 2025. The deadline has been extended to 16 May 2025. The
See MoreCosta Rica consults on new tax information reporting reforms
Costa Rica’s tax administration (DGT) has released six draft resolutions for public consultation to improve tax reporting, streamline electronic compliance, and update filing methods. The proposed resolutions focus on migrating reporting
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South Africa: SARS lowers interest rates on unpaid taxes and overpaid amounts
The South African Revenue Service (SARS) has released updated interest rate tables effective from 1 May 2025. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely – interest
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