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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US: New Jersey launches mediation pilot program for corporate sales and tax disputes
The New Jersey Division of Taxation is launching a two-year pilot mediation program on 1 October 2025. The Pilot is set to run for 24 months from 1 October 2025 to 30 September 2027. The program is open to all business entities involved in
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Austria: Budget Accompanying Act 2025 awaits parliamentary approval, proposes amendments to VAT, income taxes amongst othersÂ
Austria’s Ministry of Finance (BMF) has released the draft Budget Accompanying Act 2025 (BBG 2025) on 2 May 2025. The Budget Accompanying Act 2025 is presently awaiting parliamentary approval. The proposed key tax measures include amendments to
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Taiwan: Legislative Yuan approves expanded tax incentives for AI, green tech, startups
Taiwan's Legislative Yuan has approved amendments to the Statute for Industrial Innovation, increasing tax incentives for investments in artificial intelligence (AI), carbon emission reduction technologies, and startups on 18 April 2025. The
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Netherlands advances to close tax-free annuity loophole in new omnibus tax bill
The Netherlands State Secretary for Finance has submitted the 2026 Omnibus Tax Bill to Parliament for approval. The Ministry of Finance has published both the bill and its accompanying explanatory memorandum on 25 April 2025. This legislation
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UAE: FTA removes fines for delayed corporate tax registration
The UAE’s Federal Tax Authority (FTA) has introduced a new initiative allowing businesses to have administrative penalties waived or refunded for late corporate tax registration on 2 May 2025, provided certain conditions are met. To qualify,
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US: IRS offers tax relief to Virginia storm victims
The US Internal Revenue Service (IRS) in a release VA-2025-03 on 30 April 2025 announced today tax relief for individuals and businesses in parts of Virginia affected by severe winter storms and flooding that began on 10 February 2025. These
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Belgium unveils tax reforms, includes tighter exemptions, broader exit tax
The Belgian government has presented an overview of its tax reforms to the parliament on 24 April 2025. This follows after Belgium’s five political parties agreed on a coalition government program on 31 January 2025, outlining various tax
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Slovak Republic: Parliament rejects bill to limit fine deadlines for administrative offences
The Slovak Republic’s Parliament on 15 April 2025 voted against a proposed amendment to the Tax Code. The draft bill sought to introduce a deadline after which fines could no longer be imposed for specific administrative
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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
See MoreBelgium 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
See MoreNetherlands 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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