Czech Republic gazettes new tax and penalty waiver rules
New rules allow tax authorities to waive penalties and obligations in cases of requests, legal irregularities, or emergencies like natural disasters. The Czech Republic has published Act No. 218/2025 in the Official Gazette on 30 June 2025,
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Argentina: ARCA introduces new facility for tax, customs, social security payments
Individuals and businesses can access the new payment facility with a 50% interest rate reduction. Argentina’s tax authority (ARCA) has announced a new payment facility on 12 June 2025 for outstanding tax and customs due up to 30 April 2025,
See MoreCzech Republic: Senate approves new tax and penalty waiver rules
The Czech Senate approved a bill on 11 June 2025, allowing tax authorities to waive penalties upon request and enabling the government to waive tax obligations during emergencies or legal irregularities. The Czech Republic’s Senate approved the
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Australia: ATO announces GIC, SIC rates for Q1 2025-26
From 1 July 2025, the GIC annual rate will be 10.78%, and the SIC annual rate will be 6.78%. The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the first quarter of
See MoreAustralia: ATO confirms interest on late payments and underpayments is non-deductible from July 2025
The ATO reminds taxpayers that from 1 July 2025, interest on late payments and underpayments will no longer be tax deductible. The Australian Taxation Office (ATO) announced on 10 June 202, reminding taxpayers that from 1 July 2025, interest
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Ireland: Revenue updates guidelines on interest charges for late tax payments
Irish Revenue has updated its guidelines on interest for late tax payments, now covering Capital Acquisitions Tax. The eBrief clarifies interest rules, removes mentions of Fixed Direct Debit and Balloon payments, and updates due dates for
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Poland: MoF lowers late payment interest rates
Ministry of Finance updated interest rates for tax arrears and late payments on 16 May 2025. Poland’s Ministry of Finance released the updated interest rates for tax arrears and late payments on 16 May 2025. The standard rate will decrease
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Czech Republic: Lower Chamber passes bill introducing complete waiver of tax penalties
The Czech Republic’s lower house of parliament passed a bill on 23 April 2025 amending the Tax Code. The bill introduces a provision under Article 259a that allows for the complete waiver of tax penalties. If passed, most proposed changes
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Chile waives penalties for late filings due to IT glitch
Chile’s tax administration (SII) has waived the fine for the late filing of tax return No. 1948 (DJ 1948) through Resolution Ex. SII 34-2025 was published in the Official Gazette on 19 March 2025. This return reports dividend distribution by
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Malaysia introduces new consolidated income tax and employer audit framework
The Inland Revenue Board of Malaysia (IRBM) has released a new Tax Audit Framework on Income Tax and Employer on 15 March 2025. The updated framework replaces several previous audit frameworks, including: Tax Audit Framework (2022); Tax
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Hong Kong notifies tax representatives of 2024-25 tax return filing block extension scheme
The Hong Kong Inland Revenue Department (IRD) has released a Circular Letter to Tax Representatives on the Block Extension Scheme for the Lodgement of 2024/25 Tax Returns. As in previous years, the letter confirms that the Block Extension Scheme
See MoreAustralia: ATO announces GIC, SIC rates for Q4 2024-25
The Australian Taxation Office (ATO) announced the general interest charge (GIC) rates and shortfall interest charge (SIC) rates for the fourth quarter of the 2024-25 income year on 12 March 2025. For the quarter commencing on 1 April 2025, the
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Italy: Council of Ministers approve tax reform adjustments, bans e-invoicing for healthcare professionals
Italy’s Council of Ministers have preliminarily approved a Legislative Decree with supplementary and corrective provisions to the recent tax reform on 13 March 2025. The provisions cover compliance, penalties, litigation, and the two-year
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Ukraine raises interest rate, increasing late payment penalties
The National Bank of Ukraine has announced it will raise the key policy rate from 14.5% to 15.5% per annum, effective 7 March 2025. For tax purposes, this impacts the late payment penalty interest, which is 120% of the National Bank rate. This
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US: IRS announces unchanged interest rates for Q2 2025
The US Internal Revenue Service (IRS), announced – on 6 March 2025 – that the interest rates will remain the same for the calendar quarter beginning 1 April 2025. For individuals, the rate for overpayments and underpayments will be 7% per
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US: Treasury suspends Corporate Transparency Act enforcement against citizens, domestic reporting companies
The US Department of the Treasury announced, on 2 March 2025, with respect to the Corporate Transparency Act, that it will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing
See MoreUS: FinCEN won’t impose fines or penalties for missing beneficial ownership information reporting deadlines
The US Treasury Financial Crimes Enforcement Network (FinCEN) has announced, on 27 February 2025, that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update
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Poland: Parliament passes tax law amendments
Poland’s lower house of Parliament (Sejm) has approved two legislative measures to amend the nation's tax laws during its 20-21 February 2025 session. The tax measures are as follows: Tax Code updates: Easier submissions and interest on
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