Romania announces new tax on special constructions
Romania has made additional amendments to the Tax Code (Law no. 227/2015) reinstating the tax on special constructions, under Emergency Ordinance no. 156 of 30 December 2024. A new amendment is reintroducing a 1% tax on non-building constructions
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Sweden reviews DAC9 implementation for EU tax reporting
Sweden’s Ministry of Finance released a memorandum on 2 December 2024, outlining proposed changes to the Directive on Administrative Cooperation (DAC9) to streamline multinational enterprises' tax reporting under the EU Minimum Taxation Directive
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UAE publishes details of domestic minimum top-up tax law
The UAE Ministry of Finance has published a copy of Cabinet Decision No. 142 of 2024, detailing the country’s Domestic Minimum Top-up Tax (UAE DMTT) law. The Decision enacted a DMTT for multinational enterprises (MNEs). This measure aligns with
See MoreUAE introduces domestic minimum top-up tax for multinational enterprises
The UAE Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on the introduction of the Top-up Tax for Multinational Enterprises, providing further details on the UAE Domestic Minimum Top-up Tax (UAE DMTT) on 9 December
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UK: HMRC amends Pillar Two rules
The UK tax authority, His Majesty’s Revenue and Customs (HMRC), published amendments to the Finance Bill 2024-2025 on 27 January 2025, introducing changes to the UK’s Pillar Two regulations. The bill includes modifications to the Undertaxed
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Armenia introduces tax incentives for the tech sector
Armenia’s National Assembly has passed legislation introducing support measures and tax incentives aimed at advancing programs in the high-tech sector on 4 December 2024. These laws were presented by Minister of High-Tech Industry Mkhitar
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UK: HMRC consults multinational, domestic top-up tax guidance
The UK tax authority, HMRC, has opened a public consultation on the supplementary draft guidance regarding the Multinational Top-up Tax and Domestic Top-up Tax on 28 January 2025. This release of draft guidance contains sections on flow-through
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Kuwait gazettes Pillar Two global minimum tax law for MNEs
Kuwait has adopted OECD's Pillar Two global minimum tax with the publication of Decree No. 157/2024 in the Official Gazette on 30 December 2024. The decree imposes a 15% minimum tax rate on multinational enterprise (MNE) groups that generate over
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French updates notification form for CbC reporting, Pillar Two global minimum tax
The French tax authorities introduced a Form n°2065-INT-SD intended for entities subject to the French Pillar Two law on 24 January 2025. The form was previously used to submit the Country-by-Country (CbC) reporting notification alongside the
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Argentina announces special PAIS tax refund process
Argentina’s Customs Collection and Control Agency (ARCA) issued General Resolution 5638/25 on 17 January 2025, which introduced a procedure for returning balances of the PAIS tax. Agents responsible for collecting and liquidating the PAIS tax
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Spain ends temporary energy tax in 2025
Spain has issued the Resolution of 22 January 2025 in the Official Gazette on 23 January 2025, repealing the Royal Decree-Law 10/2024 of 23 December 2024 which established a temporary energy levy targeting major energy companies. Earlier, Spain
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Azerbaijan amends tax code: Cuts branch profit tax, introduces new corporate tax and VAT exemptions
Azerbaijan has approved several amendments to the Azerbaijan Tax Code on 27 December 2024. Key amendments include a reduction of branch profit tax rate, new corporate income tax exemptions, and revised transfer pricing penalties. Reduction of
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Indonesia introduces regulations for Pillar Two global minimum tax
Indonesia's Ministry of Finance has introduced Regulation No. 136 of 2024, implementing Pillar Two global minimum tax rules in the country. The regulations apply to MNE groups with annual consolidated revenue of at least EUR 750 million in two of
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Italy outlines state budget for 2025, lowers corporate tax for reinvestmentÂ
Italy has enacted Law No. 207 of 30 December 2024, outlining the 2025 State Budget along with the multi-year financial plan for 2025-2027. The law was published in the Official Gazette on 31 December 2024 and took effect on 1 January 2025. The
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Luxembourg gazettes bill amending global minimum taxation law
Luxembourg has published a Grand-Ducal Regulation in the Official Gazette on 23 December 2024, outlining the application of tax credits under the Law of 22 December 2023. This law ensures minimum effective taxation for multinational and large
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Lithuania: Government proposes tax incentives to boost economic growth, reduce income inequality
The Lithuanian government has introduced new tax proposals focused on economic growth and equality in the tax system on 12 December 2024. The proposals include tax incentives for investment in advanced production technologies and green energy.
See MoreSpain implements temporary energy tax for 2025, targets major energy companies
Spain has published the Royal Decree-Law 10/2024 of December 23, 2024 in the Official Gazette on 24 December 2024, establishing a temporary energy levy which targets major energy companies in 2025. The levy is set at 1.2% on the net turnover from
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Singapore gazettes minimum tax law, regulations
Singapore announced the publication of the Multinational Enterprise (Minimum Tax) Act 2024 and the Multinational Enterprise (Minimum Tax) Regulations 2024 in its Official Gazette on 30 December 2024. The Multinational Enterprise (Minimum Tax) Act
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