Australia: ATO issues draft guidance on Pillar Two filings
The consultation period for the draft guidance closes on 29 August 2025. The Australian Taxation Office (ATO) has issued draft guidance, PCG 2025/D3, on 16 July 2025 detailing its transitional approach to Pillar Two filing obligations. This
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OECD reports to G20 on tax transparency and global minimum tax
The OECD has released the Secretary-General Tax Report to G20 Finance Ministers and Central Bank Governors, and Taking Stock of Progress on Transparency and Exchange of Information for Tax Purpose,s ahead of the G20 meeting held from 17 to 18 July
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Italy: Council of Ministers approves additional supplementary and corrective amendments to tax reform
The bill simplifies regulations, enhances transparency and fairness, revises the Taxpayer's Bill of Rights, and clarifies the self-assessment process with added sanctions. Italy’s Council of Ministers has preliminarily approved a Legislative
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US: IRS offers tax relief to New Mexico flood and storm victims
The tax filing and payment deadline has been extended to 2 February 2026 for New Mexico taxpayers. The US Internal Revenue Service (IRS) has issued NM-2025-03 on 16 July 2025, in which it announced tax relief for individuals and businesses in
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Poland: Senate approves bill to ease corporate tax rules
The legislation repeals the requirement for large corporate income taxpayers to publish a report on their executed tax strategy. Poland’s Senate passed two tax legislation amendments without changes on 17 July 2025. Corporate Income Tax
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Taiwan: MoF warns enterprises on timely CFC loss reporting
The finance ministry stated that CFC losses need supporting documents by the tax deadline, or they won’t be allowed. Taiwan’s Ministry of Finance (MOF) stated that CFC losses will be disallowed unless supporting documents are submitted by the
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Malaysia issues updated guidance on taxation of Malaysian ships
The Public Ruling updates the tax treatment and shipping income exemptions for qualifying Malaysian residents, replacing the 2012 edition. RegFollower Desk The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling No. 1/2025 on 15
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Costa Rica issues transition guidelines for new digital tax system
The resolution outlines the guidelines for disabling current tax platforms to transition to the new “TRIBU-CR” system, which will take effect on 4 August 2025. Costa Rica’s Tax Administration (DGT) issued Resolution No. MH-DGT-RES-0011-2025
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Poland: MoF issues guidance on beneficial ownership for withholding tax
The guidance provides clarification of the application of the beneficial owner clause for withholding tax under Corporate and Individual Income Tax Laws. Poland’s Ministry of Finance has issued guidance on 3 July 2025, regarding the application
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India: CBDT launches nationwide drive to crack down on false income tax deduction and exemption claims
The income tax department has begun a large-scale verification to detect and act against fraudulent claims of deductions and exemptions in income tax returns. India’s Central Board of Direct Taxes (CBDT) initiated a nationwide verification
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Chile extends reduced tax rate for qualifying SMEs until 2028
The new law extends the reduced 12.5% rate through 2025-2027, with a 15% rate starting in 2028. Chile published Law No. 21755 in the Official Gazette on 11 July 2025, extending the temporary reduced corporate tax rate for qualifying SMEs under
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Indonesia mandates income tax withholding by e-commerce and online platforms
The regulation introduces income tax withholding requirements for both domestic and foreign e-commerce and online marketplace operators. Indonesia's Ministry of Finance announced Regulation No. 37 of 11 June 2025 (PMK37/2025) on 14 July 2025,
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Costa Rica sets new rules for tobacco tax calculation
The regulations mandate procedures for calculating taxes on tobacco products to fund social welfare and ensure prior reporting of price and import data. Costa Rica’s tax administration (DGT) has published Resolution No. MH-DGT-RES-0008-2025 in
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Bolivia: National Tax Service announces corporate tax filing and payment deadline for industrial, construction, oil sectors
The deadline is for tax periods ending on 31 March 2025. Bolivia’s National Tax Service (SIN) announced on 11 July 2025, reminding taxpayers in the industrial, construction, and oil sectors that the deadline to file and pay corporate income
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Turkey issues updated 2025 tax guide on passenger vehicles
The guidance updates the tax rules for business-use passenger vehicles and sets limits on deductible expenses and depreciation for the 2025 fiscal year. Turkey’s Revenue Administration has published an updated guide on the tax treatment of
See MoreUS: IRS exempts US-owned pass-throughs from international tax reporting
Starting in the 2024 tax year, domestically owned pass-through entities with only U.S. shareholders or partners are exempt from filing IRS international tax forms Schedule K-2 and K-3. The US Internal Revenue Service (IRS) issued updated guidance
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Taiwan issues CFC exemption guidelines for 2025 compliance
New guidance confirms Taiwan’s CFC exemption applies to entities with limited earnings or substantial operations. Taiwan’s Ministry of Finance has released a notice to specify the exemption limit for current-year income under the Controlled
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Argentina introduces special refund process for PAIS tax overpayments by importers
The first instalment will be available on 8 September 2025. Argentina’s tax authority (ARCA) introduced a special procedure for importers on 7 July 2025, allowing them to claim refunds for overpaid PAIS tax, which expired on 22 December
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