UAE: FTA issues guidance on tax group financial reporting, audit rules
Tax Groups are required to prepare Aggregated Financial Statements under Article 3 of Ministerial Decision No. 114 of 2023. This requirement applies to all Tax Periods commencing on or after 1 June 2023. The UAE Federal Tax Authority (FTA)
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Zambia: ZRA advocates compliance through trust-based approach
The ZRA hosted a cooperative compliance conference from 25 to 27 August to promote trust-based initiatives for improved trade facilitation and tax compliance. The Zambia Revenue Authority (ZRA) announced on 27 August 2025 that it is hosting a
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Singapore: IRAS updates GST guide for businesses
The guide provides an overview of the Goods and Services Tax (GST) in Singapore. It covers three broad categories: GST Concepts and Principles, GST Administration and GST Schemes. The Inland Revenue Authority of Singapore (IRAS) has released the
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UK: HMRC updates guidance on Pillar 2 top-up taxes reporting, registration
HMRC has refreshed its guidance on registering and reporting Pillar 2 Top-up Taxes, clarifying who can file, what information is needed, and when returns are due. UK HMRC updated their guidelines on “How to report Pillar 2 Top-up Taxes” and
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Qatar: General Tax Authority extends submission period for 100% Financial Penalty Exemption Initiative until end of 2025
The extension is in response to the growing interest in benefiting from the initiative, and in line with the Authority’s commitment to supporting taxpayers and enabling them to regularise their status. The General Tax Authority announced the
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EU: Commission consults CBAM methodology, certificate adjustments, third-country carbon price deductions
Stakeholders are encouraged to provide feedback on this initiative until 25 September 2025. The European Commission initiated a consultation on 28 August 2025 to gather the opinions of all stakeholders on the rules on the methodology for
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France updates shareholder interest deductibility rates
The New maximum deductible interest rates are published for fiscal years ending between 30 June and 29 September 2025. The French tax authority has published new interest rates for determining the deductibility of interest payments to
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Belgium extends deadline for thematic investment deduction certificate filing
The extension is limited to 30 June 2026, except for deadlines within three months of that date, with up to 40% deduction rates for sustainable transition investments. Belgium’s Federal Public Service for Finance has published the royal
See MoreEU moves to cut tariffs under trade deal with US
These steps contribute to restoring stability and predictability in EU-US trade and investment relations, to the benefit of business, workers and citizens. On 28 August 2025, the European Commission presented two proposals to advance the
See MoreEU urges stricter customs oversight on non-compliant goods
The EU Commission’s report highlighted that customs authorities have improved in intercepting non-compliant goods; however, e-commerce growth has outpaced enforcement, with 13 items per million refused entry in 2024 due to safety or compliance
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Poland: President approves law requiring nationwide e-invoicing system
The phased implementation begins with the largest taxpayers, requiring those with 2024 sales over PLN 200 million to comply by 1 February 2026. Poland’s President signed into law a mandate on 27 August 2025, for the national electronic
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Singapore: IRAS updates guidance on completing GST form F5
The update provides detailed, box-by-box guidance for filling out Form GST F5, the standard form used for reporting GST. The Inland Revenue Authority of Singapore (IRAS) has released revised instructions for completing GST returns. The update
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Chile: SII issues rules on VAT exemption for low-value imports purchased via remote sellers, online platforms
The new rules exempt low-value imports (CIF value under USD 500) from VAT at import when purchased from non-resident remote sellers or DPIs registered under the simplified VAT regime, ensuring VAT is only charged at the sale stage, not at the time
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Cyprus: DRCIP mandates submission of beneficial owner details in the registry by 31 December
Failure to comply with the deadline may result in financial penalties of up to EUR 5,000. The Cyprus Department of Registrar of Companies and Intellectual Property (DRCIP) mandated on 25 August 2025 that all companies established or registered
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Panama: DGI updates eligibility rules for free e-invoicing platform
Resolution 201-6299 enters into force on 1 January 2026. Panama’s tax authority (DGI) published Resolution 201-6299 of 29 July 2025 in the Official Gazette No. 30350 on 25 August 2025, updating the criteria for registered taxpayers to use the
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OECD publishes updated signatory list for GIR MCAA
The latest signatories now include the Netherlands, Austria, Belgium, Denmark, France, Ireland, Italy, Japan, Luxembourg, New Zealand, Portugal, the Slovak Republic, South Korea, Spain, and the UK. The OECD has released the list of 15 countries
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Australia: ATO consults Pillar Two filing exemptions for nil top-up tax cases
The deadline for submitting feedback is 24 September 2025. The Australian Taxation Office (ATO) has initiated a public consultation on a draft legislative instrument on 28 August 2025, aimed at easing compliance for multinational enterprise
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US: IRS issues guidance on elections, amended returns, accounting method changes for R&E costs under OBBBA
The guidance covers procedures for amortising domestic R&E costs, obtaining automatic consent for accounting changes, and extended deadlines for certain 2024 returns. The IRS released Revenue Procedure 2025-28, outlining rules for elections,
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