Italy amends CFC rules, tax loss carry-forward provisions
The adopted tax measures include updates to controlled foreign company (CFC) rules and tax loss carry-forward provisions. Italy has published Decree No. 84 of 17 June 2025 in Official Gazette No. 138 on 17 June 2025, introducing changes to the
See More
Slovak Republic: MoF consults DAC9, Pillar Two implementation bill
DAC9 introduces new rules for sharing top-up tax information and filing obligations under the Pillar Two GMT Directive (Directive (EU) 2022/2523). The Slovak Republic's Ministry of Finance has opened a public consultation on a draft bill to
See More
Norway consults on Pillar Two minimum tax amendments
The consultation addresses deferred and cross-border taxes, pass-through entities, hybrid arrangements, securitisation entities and technical corrections. The Norwegian government has announced a public consultation on 16 June 2025 regarding the
See More
Tanzania presents 2025-26 budget, introduces withholding tax and higher AMT
The budget speech highlighted key fiscal changes, which included a new withholding tax, higher alternative minimum tax, and VAT adjustments. Tanzania's Minister of Finance, Mwigulu Nchemba, has presented the 2025-26 Budget Speech to parliament on
See More
Kenya: National Treasury publishes budget statement 2025-26, reduces corporate and digital tax rates
Kenya's National Treasury has released the 2025-26 Budget Statement on 12 June 2025. Kenya's National Treasury published the 2025-26 Budget Statement on 12 June 2025, outlining key tax measures aligning with proposals highlighted in the 2025
See More
US: CRS publishes report on enforcing remedies for unfair foreign tax practices
The US House of Representatives passed the One Big Beautiful Bill Act on 22 May 2025, now with the Senate. A key tax measure includes adding section 899, "Enforcement of Remedies Against Unfair Foreign Taxes," to the Code. The US Congressional
See More
UK: HMRC issues updated guidance on multinational and domestic top-up taxes
The UK HMRC updated its guidance on preparing for the Multinational Top-up Tax and the Domestic Top-up Tax on 9 June 2025. UK HMRC updated its guidance on How to prepare for the Multinational Top-up Tax and the Domestic Top-up Tax on 9 June
See More
Iceland consults on global minimum tax implementation
Iceland is holding a public consultation from 4 June to 5 August 2025 on a proposed bill to implement the Pillar 2 global minimum tax under the GloBE Model Rules. Iceland's Ministry of Finance and Economic Affairs has opened a public consultation
See More
Hong Kong enacts BEPS 2.0 Pillar Two minimum tax law
Under Pillar Two of BEPS 2.0, a global minimum tax of 15% is imposed on multinational enterprise (MNE) groups with annual consolidated revenue of EUR 750 million or above in at least two of the four fiscal years immediately preceding the current
See More
US: IRS issues interim guidance on simplified option for CAMT calculation
The guidance offers a simplified method to determine "applicable corporation" status under IRC Sec. 59(k), increasing minimum thresholds and waiving some estimated tax penalties. The US Internal Revenue Service (IRS) issued Notice 2025-27,
See More
Denmark: Parliament approves changes to Pillar Two minimum tax, Pillar One Amount B, related measures
The Parliament approved Bill L 194A on 3 June 2025. Denmark’s parliament has approved Bill L 194A, amending the Minimum Taxation Act, Corporate Tax Act, and other laws on 3 June 2025. Minimum Taxation Act and Corporate Tax Act The
See More
Hong Kong: Government approves global minimum tax bill
The bill introduces a 15% global minimum tax for multinational enterprise groups, starting 1 January 2025. The Hong Kong Inland Revenue Department (HKIRD) has announced that the Legislative Council approved the Inland Revenue (Amendment) (Minimum
See More
Hong Kong: Legislative Council Bills Committee advances global minimum tax bill
The Hong Kong Legislative Council Bills Committee released a report on the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024 on 19 May 2025, affirming that it does not object to the amendments put forward by the
See More
Australia: ATO updates guidance on Pillar Two minimum tax rules
The Australian Taxation Office (ATO) has published new guidance on the Pillar Two minimum tax rules on 16 May 2025. It now includes: Guidance about how the ATO will administer potential amendments to Australian law to address
See More
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 More
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
See More
Netherlands 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
See More
Hong Kong addresses feedback on global minimum tax bill
Hong Kong's Legislative Council has published a letter from the Secretary for Financial Services and the Treasury in response to comments from eight submissions on the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill
See More