Australia: ATO finalises circumstances under which certain Division 7A notional loan repayments are disregarded
The guidance clarifies when certain Division 7A loan repayments for notional loans are disregarded for private companies. The Australian Taxation Office (ATO) has finalised its position on the circumstances under which certain Division 7A
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UAE: FTA issues guidance on tax group financial reporting, audit rules
Tax Groups are required to prepare Aggregated Financial Statements under Article 3 of Ministerial Decision No. 114 of 2023. This requirement applies to all Tax Periods commencing on or after 1 June 2023. The UAE Federal Tax Authority (FTA)
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UK: HMRC updates guidance on Pillar 2 top-up taxes reporting, registration
HMRC has refreshed its guidance on registering and reporting Pillar 2 Top-up Taxes, clarifying who can file, what information is needed, and when returns are due. UK HMRC updated their guidelines on “How to report Pillar 2 Top-up Taxes” and
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Qatar: General Tax Authority extends submission period for 100% Financial Penalty Exemption Initiative until end of 2025
The extension is in response to the growing interest in benefiting from the initiative, and in line with the Authority’s commitment to supporting taxpayers and enabling them to regularise their status. The General Tax Authority announced the
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France updates shareholder interest deductibility rates
The New maximum deductible interest rates are published for fiscal years ending between 30 June and 29 September 2025. The French tax authority has published new interest rates for determining the deductibility of interest payments to
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Belgium extends deadline for thematic investment deduction certificate filing
The extension is limited to 30 June 2026, except for deadlines within three months of that date, with up to 40% deduction rates for sustainable transition investments. Belgium’s Federal Public Service for Finance has published the royal
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Cyprus: DRCIP mandates submission of beneficial owner details in the registry by 31 December
Failure to comply with the deadline may result in financial penalties of up to EUR 5,000. The Cyprus Department of Registrar of Companies and Intellectual Property (DRCIP) mandated on 25 August 2025 that all companies established or registered
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Panama: DGI updates eligibility rules for free e-invoicing platform
Resolution 201-6299 enters into force on 1 January 2026. Panama’s tax authority (DGI) published Resolution 201-6299 of 29 July 2025 in the Official Gazette No. 30350 on 25 August 2025, updating the criteria for registered taxpayers to use the
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Australia: ATO consults Pillar Two filing exemptions for nil top-up tax cases
The deadline for submitting feedback is 24 September 2025. The Australian Taxation Office (ATO) has initiated a public consultation on a draft legislative instrument on 28 August 2025, aimed at easing compliance for multinational enterprise
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Ireland: Revenue updates guidance on filing corporation tax returns for 2023, 2024
Irish Revenue released updated guidance on completing Corporation Tax Returns (Form CT1) for the 2023 and 2024 tax years. The Irish Revenue has published eBrief No. 164/25 on 27 August 2025 clarifying updates to the Tax and Duty Manual Part
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Brazil consults changes to net profit social contribution (Pillar Two QDMTT)
The consultation period will conclude on 14 September 2025. Brazil's Federal Revenue Service (RFB) has initiated a public consultation to discuss proposed amendments to Normative Instruction RFB No. 2.228 of 3 October 2024, which governs the
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UAE: FTA updates EmaraTax user manuals for payments, returns, period changes, de-registration
FTA updates EmaraTax user manuals covering corporate tax payments, returns, period changes and de-registration. The UAE Federal Tax Authority (FTA) has released updated user manuals for taxpayers using the EmaraTax portal. The revised
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New Zealand introduces 2025–26 tax changes on foreign income, GST, electricity sales
New Zealand introduces 2025–26 tax updates, including foreign investment income, GST, employee share schemes, and new exemptions. New Zealand Inland Revenue announced the introduction of the bill Taxation (Annual Rates for 2025–26, Compliance
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Poland: President rejects bill to ease fiscal offence penalties
The government’s deregulation package, vetoed by the President, would have cut maximum fines for tax offences from PLN 44.8 million to PLN 29.9 million and from PLN 14.9 million to PLN 7.5 million. Poland’s President Karol Nawrocki
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Uruguay launches new investment incentives, prioritises R&D+i amongst others projects
Uruguay unveils investment promotion package with tax incentives, streamlined procedures, and support for SMEs, large projects, tech, and housing. The Ministry of Economy and Finance announced on Monday, 18 August 2025 a package of measures aimed
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Romania: MoF issues draft ordinance, proposes amendments to global minimum tax rules and direct taxes outlined in Fiscal Code
The Ministry of Finance has proposed legislative amendments to the Pillar Two global minimum tax and corporate income tax in the Fiscal Code. Romania’s Ministry of Finance has recently introduced two legislative amendments: one proposes
See MoreAustralia gazettes Taxation (Multinational-Global, Domestic Minimum Tax, Qualified Globe Taxes) Determination 2025 legislative instrument
The legislative instrument takes effect on 27 August 2025 and remains applicable until 1 April 2035. The Australian Official Gazette has published a legislative instrument “Taxation (Multinational-Global and Domestic Minimum Tax) (Qualified
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Malaysia: MoF prolongs tax deduction for sustainable investment-linked sukuk until 2027
The special tax deduction extension for Labuan companies applies from the year of assessment (YA) 2024 to YA 2027, as announced in the 2024 budget. Malaysia’s Ministry of Finance has extended the special tax deduction for companies or Labuan
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