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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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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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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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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Poland: MoF to increase corporate tax rate for banks
The changes are set to take effect on 1 January 2026. Poland’s Ministry of Finance has announced plans on 21 August 2025 to adjust the corporate income tax rate for banks, with a target rate of 23% starting in 2028, up from the current
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Slovak Republic plans digital services tax
The DST aims to generate EUR 30–100 million in revenue by taxing large multinational digital platforms and cloud services operating in the country, including Meta, Google, TikTok, Amazon, Netflix, and Microsoft. Slovak Republic’s State
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Pakistan: FBR introduces withholding tax on domestic digital sales
The FBR introduced a 1–2% withholding tax on domestic digital sales via online marketplaces. Pakistan’s Federal Board of Revenue (FBR) issued Notification (Sales Tax) S.R.O. 1429(I)/2025 on 4 August 2025, establishing a new Chapter XIV-E in
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Poland: MoF considers windfall profit tax on banking sector
Poland’s Finance and Economy Minister plans to introduce a windfall profits tax on banks, citing high profits driven by elevated interest rates from the National Bank of Poland. Poland’s Minister of Finance and Economy has announced plans to
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South Africa to tax dividends on certain hedging instruments from 2026
South Africa proposes taxing dividends on certain hedging instruments from 2026 to align tax with IFRS accounting. The South African government has proposed amending section 24JB of the Income Tax Act to tax dividends received on equity
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Colombia: DIAN clarifies dividend withholding for Andean Community holding companies
DIAN rules that dividends to Andean Community holding companies with comparable regimes are exempt from withholding tax, while others remain taxable. Colombia’s tax authority (DIAN) issued Ruling 8935 int 1037 on 10 July 2025, providing
See MorePoland: Ministry of Digital Affairs proposes levy on digital services
The proposed DST targets companies with global revenues over EUR 750 million, applying varying rates ranging from 3% to 6% for broad digital activities like platforms, ride-sharing, and data sales, and 5% to 7.5% for targeted digital
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Poland: Ministry of Finance consults extension of temporary withholding tax exemption for technical payers
Poland plans to extend the temporary withholding tax exemption for technical payers, including securities account operators, until the end of 2026. Poland’s Ministry of Finance has released a draft regulation for public consultation on 11
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UK: HMRC announces reduced late payment, repayment interest rates
HMRC announced revised interest rates on late and early tax payments, effective 27 August 2025. HMRC published updated interest rates for late and early payments on 8 August 2025, following the Bank of England’s 7 August decision to lower the
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Italy introduces conditional IRES rate cut to reward responsible corporate growth
The incentive is available to Italian-resident joint-stock companies, commercial entities, and permanent establishments of non-resident companies, and non-commercial entities on income from commercial activities. Italy’s Ministry of Economy
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Thailand: BOI to introduce refundable tax credits under new GMT rules
Thailand’s BOI will allow promoted companies to claim cash refunds for unused tax credits under new global minimum tax rules. Thailand’s Board of Investment (BOI) plans to introduce Qualified Refundable Tax Credits (QRTCs) under the Pillar
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France: Tax authority issues guidance on 2025 temporary CIT surcharge for large companies
The tax authorities issued guidelines on the temporary corporate tax surcharge for large companies under the 2025 Finance Law. The French tax authorities published administrative guidelines under reference No. BOI-IS-AUT-60 on 6 August 2025
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Italy: Revenue Agency approves notification form for companies opting out of GIR submission under the global minimum tax
The Order of 7 August 2025 introduces a form model for companies under the GMT opting out of submitting the global information return (GIR). The Italian Revenue Agency has issued the Order of 7 August 2025, approving a notification form for
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