Taiwan: Ministry of Finance issues guidelines for businesses changing to a special fiscal year
Taiwan's Ministry of Finance has released a notice outlining the requirements for businesses transitioning from a calendar year to a special fiscal year, including stipulations for tax returns and retained earnings on 12 November 2024. The
See More
Costa Rica announces new rules for e-invoicing
Costa Rica has published the ‘Executive Decree No. 44739-H—Regulation of Electronic Receipts for Tax Purposes’ in the Official Gazette on 8 November 2024. The key points of the decree are as follows: New definitions, including
See More
US: IRS to host free webinar for businesses on beneficial ownership reporting deadline of 1 January 2024
The US Internal Revenue Service (IRS), in the release IR-2024-288 on 12 November 2024, announced a free one-hour webinar scheduled for 19 November 2024 aimed at assisting businesses that must report beneficial ownership information to the Treasury
See More
UAE: FTA publishes new corporate tax guide
The UAE Federal Tax Authority (FTA) released a new Corporate Tax Guide on Tax Returns—CTGTXR1—on 12 November 2024, providing general guidance on filing and completing a return. This guide should be read by anyone required to file a tax return
See More
Turkey updates electronic ledger rules, filing deadlines
The Turkish Ministry of Treasury and Finance, alongside the Ministry of Trade, has issued a revised General Communiqué on Electronic Ledger (No. 5) on 8 November 2024, updating the previous regulations to enhance tax compliance. The new rules,
See More
Greece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025 on 5 November 2024. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and
See More
Netherlands submits third bill to amend Tax Plan 2025, updates funds for joint account regulations
The Netherlands government has presented the third amending bill to the Tax Plan 2025 to the lower house of parliament on 6 November 2024. This bill aims to eliminate an unintended, temporary tax liability for funds held in joint accounts
See More
Italy updates tax credit form for special economic zone investments
Italy’s tax authorities issued Protocol No. 406943/2024 on 6 November 2024, updating the model form for the supplementary communication required by qualifying taxpayers to receive tax credit benefits for investments made in single special economic
See More
Hungary announces reporting obligations for taxpayers under global minimum tax
Hungary announced the autumn tax package proposal on 29 October 2024, which includes the reporting obligations for taxpayers under the Global Minimum Tax Act. The latest proposal has no amendments compared to the previous version released for public
See More
Poland publishes final consultation on mandatory use of e-invoicing
Poland's Ministry of Finance announced the commencement of final consultations regarding the mandatory implementation of the National e-Invoicing System (Krajowy System e-Faktur - KSeF). The National e-Invoicing System was initially scheduled to
See More
UAE urges Resident Juridical Persons to register for corporate tax before end of November
The Federal Tax Authority (FTA) has urged Resident Juridical Persons with Licences issued in October and November, irrespective of the year of issuance, to promptly submit their Corporate Tax registration application no later than 30 November
See More
US Representatives urge delay in reporting rules for beneficial ownership
US Representative Lisa McClain (R-MI) announced that she and 43 other Representatives sent a letter to Treasury Secretary Janet Yellen, on 5 November 2024, regarding beneficial ownership information, requesting a postponement in the implementation
See More
Hong Kong announces 2023/24 tax return block extension for tax representatives
Hong Kong’s Inland Revenue Department (IRD) issued the Circular Letter To Tax Representatives Block Extension Scheme For Lodgement of 2023/24 Tax Returns on 4 November 2024, extending the due date for ‘M’ code tax filing
See More
Italy publishes updated guidance on amended tax residence rules for individuals, companies
Italy’s Revenue Agency released the Circular No. 20/E, offering guidance on tax residency for individuals, companies, and other entities on 4 November 2024. The guidance follows the revisions introduced by Legislative Decree No. 209 of 27
See More
Latvia: Parliament passes mandatory e-invoicing law
Latvia’s parliament (Saeima) passed the Law on Amendments to the Accounting Law on 31 October 2024 mandating businesses in the country use mandatory electronic invoicing (e-invoicing) for all B2B transactions from 1 January 2026. Detailed
See More
Australia: ATO releases 2022-23 corporate tax transparency report
The Australian Taxation Office (ATO) has published its Corporate Tax Transparency Report for 2022-2023, featuring data on the specified population on 1 November 2024. This year's Corporate tax transparency report analyses aggregated data from the
See More
Mexico updates list of taxpayers linked to suspected fake transactions
Mexico’s Tax Administration (Servicio de Administración Tributaria, SAT) has revised the final lists of taxpayers suspected of engaging in non-existent transactions under Article 69-B of the Federal Fiscal Code. The tax administration
See More
US: IRS extends temporary relief for foreign financial institutions required to report US TINs
The US Internal Revenue Service (IRS) issued Notice 2024-78 on 28 October 2024, in which it extended the temporary relief provided in Notice 2023-11, subject to the procedures and requirements of this notice, for certain foreign financial
See More