Slovak Republic: Parliament rejects bill to ease advance income tax rules for some taxpayers
The Slovak Republic Parliament has rejected a bill that brings amendments to the Income Tax Act on 15 April 2025. This legislation grants small and medium-sized enterprises, including both individual entrepreneurs and legal entities, greater
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Finland: Government approves 2026–29 fiscal plan, introduces corporate tax cut and extended loss carryforward
Finland's Ministry of Finance has announced that the Government has approved the General Government Fiscal Plan for 2026–2029 on 23 April 2025. The decisions aim to strengthen the foundation for economic growth while prioritising the security of
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Turkey announces average commercial loan interest rates for inflation adjustment
The Turkish Ministry of Treasury and Finance has published the average commercial loan interest rates for January, February, and March 2025 as part of the inflation adjustment process for financial statements on 22 April 2025. The rates are as
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Kazakhstan considers new tax code amendments, proposes sector-specific rates and VAT increase
Kazakhstan’s lower chamber of parliament is currently examining provisions of the new draft Tax Code, which received approval in its first reading on 9 April 2025. These provisions are based on the draft originally issued by the Ministry of
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OECD: Tax incentives lead R&D support in most countries
The OECD has issued a statistical release on 22 April 2025, highlighting that tax incentives continue to outpace other forms of government support for R&D in most countries. The report states that close to 55% of total support for business
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Argentina sets rules for using reconstruction bonds to pay taxes and customs debts
Argentina’s tax authority (ARCA) has announced the regulations for companies and individuals to use Bonds for the Reconstruction of a Free Argentina (BOPREAL) to settle tax and customs debts through General Resolution 5675/2025 on 16 April
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Chile halts corporate tax cut, advances support for small businesses and tourism
Chile's Ministry of Finance released a statement on the first meeting of the High-Level Council for Strategic International Economic and Financial Policy, led by President Gabriel Boric. The release noted that income tax reform plans, including a
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Guatemala raises small taxpayer tax threshold
Guatemala has raised the annual income threshold for the simplified small taxpayer regime. This regime applies a flat 5% tax on gross income, replacing income tax and VAT. Starting 9 April 2025, the threshold will be updated from GTQ 150,000 to
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South Africa: SARS updates Income Tax Return for Companies guide
The South African Revenue Service (SARS) has published an updated guide for completing the Income Tax Return for Companies (ITR14), effective from 23 April 2025. The latest version includes expanded guidance on the reporting of beneficial ownership,
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US: IRS updates guidelines for IRC 263A accounting method changes
The US Internal Revenue Service ( IRS) has published an updated International Practice Unit titled IRC 481(a) Adjustments for IRC 263A Accounting Method Changes. This practice unit was updated to remove references to resources that are no longer
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Italy announces 2024 reliability synthetic indexes
Italy’s Ministry of Economy and Finance has published the Decree of 31 March 2025 in the Official Gazette on 18 April 2025, introducing the synthetic indexes of taxpayer reliability (ISA) for 100 business activity categories, applicable for the
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Hong Kong: Tax authority introduces eTAX portals for businesses, tax representatives, individuals
The Hong Kong Inland Revenue Department has introduced new portals under eTAX, including a pre-launch of the Business Tax Portal (BTP), Tax Representative Portal (TRP) and Individual Tax Portal (ITP) on 22 April 2025. Taxpayers can now register
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Lithuania proposes CIT hike, additional tax measures from 2026
The Lithuanian Ministry of Finance has announced tax measures, on 16 April 2025, which propose raising the standard corporate income tax rate (CIT) from 16% to 17% and the reduced rate from 6% to 7%. The changes are expected to generate EUR 111.5
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US: Republican lawmakers tackle clean energy dilemma as significant investments clash with Trump’s skepticism
Republican lawmakers planning to extend US President Donald Trump's 2017 tax cuts, also known as the “Tax Cuts and Jobs Act (TCJA),” are facing a clean-energy dilemma as significant investments in their districts clash with Trump's skepticism of
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Italy, US call for non-discriminatory digital services tax
The Trump Administration has released the United States–Italy Joint Leaders Statement on 18 April 2025, marking the conclusion of the first official meeting between US President Donald Trump and Italy’s Prime Minister Giorgia Meloni. The
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UK: HMRC issues penalty guidelines for AEOI non-compliance
The UK tax authority, His Majesty's Revenue and Customs (HMRC) issued guidance (CC/FS46) on 14 April 2025, detailing the penalties that financial institutions may face for failing to comply with Automatic Exchange of Information (AEOI)
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The U.S. Internal Revenue Service (IRS) has released Notice 2025-24 on 11 April 2025, announcing that it will waive penalties for participants and material advisors of reportable micro-captive insurance transactions if disclosure statements are
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Algeria extends 2024 corporate income tax filing deadline
Algeria’s National Tax Administration (NTA) announced an extended deadline for corporate income tax (CIT) filing on 14 April 2025. The new deadline is set for 31 May 2025. However, since 31 May falls on a holiday, the revised deadline is set for 1
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