US: IRS releases 2025 dirty dozen tax scams list
The US Internal Revenue Service (IRS), in a release IR-2025-26 on 27 February 2025, announced its annual Dirty Dozen list of tax scams for 2025 with a warning for taxpayers, businesses and tax professionals to watch out for common schemes that
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Brazil initiates pilot program for rewarding compliant taxpayers
Brazil has introduced the Receita Sintonia pilot program, established by RFB Ordinance No 511 of 19 February 2025, to encourage corporations and nonprofits to improve their tax compliance, reduce disputes, and improve transparency. The program
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Iceland issues guidance digital platform reporting rules
Iceland’s Revenue and Customs has released guidance on the country’s new reporting requirements for digital platforms. Effective 1 January 2025, these regulations mandate platforms to report income distributed to sellers. The first
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Malaysia announces new deadlines for e-invoicing compliance
The Inland Revenue Board of Malaysia (IRBM) has released updates regarding electronic invoicing (e-invoicing) guidelines on 21 February 2025. These include revised versions of the e-invoice guideline (version 4.2) and the e-invoice specific
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US: IRS announces tax relief for Kentucky taxpayers impacted by severe weather
The US Internal Revenue Service (IRS), in a release - KY-2025-02 on 24 February 2025, announced tax relief for individuals and businesses in the entire state of Kentucky affected by severe storms, straight-line winds, flooding, and landslides that
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US: Maine District Court upholds beneficial ownership reporting rule
The US District Court of Maine issued an order on 14 February 2025 on whether the beneficial ownership reporting rule under the Corporate Transparency Act (CTA) is constitutional. This case concerns the constitutionality of the Corporate
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Chile releases 9th edition of tax schemes catalogue
Chile's tax authority (SII) has released the ninth version of the Catalogue of Tax Schemes on 22 January 2025. The Catalogue aims to provide clarity to taxpayers on tax compliance for various issues and business models that may impact the Chilean
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US: Beneficial ownership reporting resumes with extended deadline
The US Treasury's Financial Crimes Enforcement Network (FinCEN) issued an alert on its BOI webpage with an update on beneficial ownership reporting requirements on 19 February 2025, announcing the reinstatement of BOI reporting requirements
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Jamaica: Tax administration announces arrears settlement plan
Jamaica’s Tax Administration has announced the Special Arrears Settlement Programme on 29 January 2025, designed to waive/remit Interest, Penalty and Surcharge (IPS) accrued once outstanding principal taxes are paid by 31 March 2025. This
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Saudi Arabia extends deadline for new zakat rules
Saudi Arabia’s Zakat, Tax, and Customs Authority (ZATCA) has extended the deadline for Zakat payers to apply new regulations for fiscal periods starting before 1 January 2024 to 30 April 2025. The extension was issued in Ministerial Resolution
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Panama revises tax compliance deadlines and rules
Panama’s Ministry of Economy and Finance and tax authorities have recently announced tax developments, which include new regulatory obligations for resident agents and legal entities and deadline extensions for compliance requirements. Updated
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Greece issues form, instructions for 2024 corporate tax return
The Greek Public Revenue Authority (AADE) issued Decision No. A. 1020 on 11 February 2025, introducing the form and defining content of the corporate income tax return for the 2024 tax year, along with relevant instructions. The Decision applies
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Costa Rica extends deadline for e-invoicing changes
Costa Rica’s Ministry of Finance has announced in bulletin CP-08-2025 of 11 February 2025, that the deadline to implement amendments to electronic invoices (e-invoices) version 4.4 under resolution MH-DGT-RES-0027-2024 has been extended to 1
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Cyprus further extends deadlines for 2022 tax returns, transaction reports
The Cyprus Tax Department announced, on 12 February 2025, that it has further extended deadlines for submitting the annual company income tax return and the summary information table (SIT) on controlled transactions for the 2022 tax year. The
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Colombia issues new reporting rules for digital platform operators
Colombia’s Directorate of Taxes and Customs (DIAN) has introduced Resolution 199 of 2024 on 19 December 2024, mandating digital platform operators to submit information. Reports must be submitted electronically every year by the last business
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US: FinCEN updates beneficial ownership information reporting rules
The US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an update on beneficial ownership information (BOI) reporting requirements on its BOI webpage. The alert states that the Justice Department, on behalf of the
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US: North Carolina extends corporate tax deadline to 7 months starting 2025
The North Carolina Department of Revenue (NCDOR) released a notice on 29 January 2025, announcing that it has revised the filing deadline for franchise and corporate income tax returns. As per the notice, for tax years beginning on or after 1
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Spain announces new requirement to maintain accounting records for manufacturing excise goods
Spain’s Ministry of Finance has issued Order HAC/1505/2024 on 26 December 2024, which mandates accounting records for products with manufacturing excise duties. The Order was published on 31 December 2024 and took effect on 1 January
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