Botswana: Government proposes taxing digital services from non-residents
Botswana introduces VAT amendment bill to tax digital services, apply reverse charge, and modernise compliance. The Government of Botswana has introduced Value Added Tax (VAT) Amendment Bill (Bill No. 22 of 2025) on 12 August 2025, proposing
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Canada consults draft tax legislation, includes several previously announced measures including amendments to global minimum tax Act
The government invites all interested Canadians and stakeholders to provide feedback on these draft legislative proposals by emailing their comments to consultation-legislation@fin.gc.ca by 12 September 2025. Canada’s Department of Finance
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Chile: SII clarifies thin capitalisation exemption for financial entities
The tax administration clarified that to be exempt from thin capitalisation rules, an entity must engage solely in financial activities (with limited complementary activities), certain assets are excluded from the 90% threshold, and the commercial
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Italy: Revenue agency clarifies eligibility for two VAT groups within a multinational group
The tax authorities clarified that a single EU holding company can indirectly include Italian entities in two separate VAT Groups when expanding in Italy through acquisitions and establishing a permanent presence. Italy’s tax authorities
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Chile: SII clarifies that tax treaty with US allows digital content creators to claim foreign tax credit
Ruling No. 1617-2025 permits digital content creators in Chile to claim a tax credit for US taxes paid, provided the US holds taxing rights over the income. Chile’s Tax Administration (SII) has published Ruling No. 1617-2025 of 14 August 2025
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Poland: MoF to increase corporate tax rate for banks
The changes are set to take effect on 1 January 2026. Poland’s Ministry of Finance has announced plans on 21 August 2025 to adjust the corporate income tax rate for banks, with a target rate of 23% starting in 2028, up from the current
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OECD releases guidance on ring-fencing mining income
The practice note explains the concept of ring-fencing in mining, its benefits, design options, and implementation challenges, drawing on international experiences to guide effective tax policy and administration. The OECD has released a new
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US: IRS announces unchanged interest rates, tax underpayments and overpayments for Q4 2025
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. The US Internal Revenue Service (IRS) released IR-2025-87 on 25 August 2025, in which it announced that interest rates will remain the same for the calendar
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Denmark: Transfer Pricing documentation submission deadline set for FY 2025
 Danish companies must submit comprehensive transfer pricing documentation, including master and local files and intercompany agreements, within 60 days of their corporate tax return to comply with section 39 of the Danish Tax Control
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Germany publishes prescribed data set for Pillar Two GloBE information returns
Germany has issued the official XML data set and schema for filing minimum tax reports under Pillar Two from fiscal years starting after 30 December 2023. Germany’s Ministry of Finance has released the officially prescribed data set and schema
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Turkey sets real estate tax construction costs for 2026
Turkey has set standard construction costs to calculate real estate tax for 2026. Turkey has published General Communiqué No. 87 on Real Estate Tax Law in the Official Gazette on 9 August 2025, setting standard construction costs per square
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Australia: Treasurer outlines tax reforms centred on equity, growth, and sustainability
The tax reforms prioritised ensuring fairness and intergenerational equity for workers, incentivising business investment to address economic productivity challenges, and simplifying the system to fund essential services amid societal shifts like
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Turkey issues draft on R&D tax exemptions
Turkey has clarified the new rules for income tax on R&D wage exemptions and related incentives. Turkey released a draft Communiqué on Income Tax on 20 August 2025, clarifying amendments under Law No. 7555 to the Technology Development
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OECD expands qualified status central record with 16 new jurisdictions for global minimum tax compliance
The new 16 jurisdictions are Brazil, Gibraltar, Indonesia, Isle of Man, Japan, Jersey, Malaysia, New Zealand, North Macedonia, Poland, Portugal, Singapore, South Africa, Switzerland, Thailand, and the UAE. The OECD/G20 Inclusive Framework on
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Poland: MoF announces measures to combat aggressive transfer pricing strategies
The new measures assist the National Tax Administration in detecting and countering large corporations that evade or underreport their income tax. Poland’s Ministry of Finance has announced two new measures on 19 August 2025, to tackle
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Chile proposes bill to promote green hydrogen industry
The proposed tax incentives and special rules aim to boost Chile’s green hydrogen industry and strengthen its global leadership in clean fuel production. Chile’s Ministry of Finance has submitted a bill to the Chamber of Deputies to promote
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Romania: ANAF publishes draft VAT form to reflect updated rates
The updated VAT return form now includes sections for both old and new VAT rates, with a separate section for reporting dwellings eligible for the reduced 9% VAT rate. Romania’s National Agency for Fiscal Administration (ANAF) released a
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Pakistan issues income tax return notifications for 2025
FBR issues electronic income tax return forms for the 2025 tax year with filing deadlines set for individuals and companies. Pakistan’s Federal Board of Revenue (FBR) on 18 August 2025 issued Notification (Income Tax) S.R.O. 1561(I)/2025 and
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