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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Germany: MoF releases draft law to amend Minimum Tax Act, aligns with the latest OECD Pillar Two GloBE guidelines
The draft legislation aims to amend the Minimum Tax Act by implementing the new OECD guidelines of December 2023, May 2024, and January 2025. Germany’s Ministry of Finance has released a draft law (Minimum Tax Adjustment Act) to amend the
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UK: HMRC publishes internal guidance on multinational, domestic top-up taxes
HMRC has published internal guidance on the UK’s Multinational and Domestic Top-up Taxes, aligned with the OECD’s Pillar Two rules. UK’s tax, payments and customs authority (HMRC) published its Internal Manual on the Multinational Top-up
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Korea (Rep.) unveils 2025 tax revision bill, enhances R&D credits
The 2025 tax reform bill aims to bolster strategic industries and welfare by introducing targeted tax credits for R&D, AI, and K-content, while streamlining corporate and capital gains taxes. South Korea’s Ministry of Economy and Finance
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UAE: FTA issues updated guide on private tax clarifications
The revised guidance incorporates new provisions and clarifies procedures for submitting clarification requests, including those related to Pillar Two rules The UAE Federal Tax Authority (FTA) released an updated version of its tax procedures
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Ecuador proposes law to tackle irregular capital flows, revise dividend taxation
The new law aims to regulate irregular capital flows and introduces revised tax rules on dividends and undistributed profits. Ecuador’s President submitted the Draft Organic Law for the Control of Irregular Capital Flows to the National
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Turkey extends 0% withholding tax on government securities until 2025
he Presidential Decision extends the 0% withholding tax on income from treasury bills, government bonds, and lease certificates until 31 December 2025. Turkey has extended the 0% withholding tax rate on income derived from treasury bills and
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Ireland issues revised GMT guidelines for MNEs, domestic groups
The updated guidance on OECD Pillar Two global minimum tax clarifies rules for insurance investment entities, intra-group financing adjustments, pre-transition tax changes, and transitional CbC reporting safe harbor rules. The Irish Revenue
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Luxembourg: Government proposes bill to enforce DAC9, align Pillar Two with OECD standards
DAC9 introduces new rules for sharing top-up tax information and filing obligations under the Pillar Two GMT Directive (Directive (EU) 2022/2523). Luxembourg’s government submitted a draft bill to the parliament to implement Council Directive
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